1 / 14

Marketing Decision-Making and Marketing Decisions

Marketing Decision-Making and Marketing Decisions. Presentation for Marketing Research Module. The Knowledge Age. Huge volumes of information now available Managers need to be selective and systematic

jameslrodriguez
Download Presentation

Marketing Decision-Making and Marketing Decisions

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Marketing Decision-Making and Marketing Decisions Presentation for Marketing Research Module

  2. The Knowledge Age • Huge volumes of information now available • Managers need to be selective and systematic • As data is drawn from multiple sources, needs to be combined and analysed for it to be of value

  3. Decision levels in organisations Business direction Market decisions Investment decisions New product development Positioning Strategic Marketing mix decisions Operational Customer service levels Competitive responses Campaigns Tactical

  4. Information processing Input Output/input Output DATA INFORMATION INTELLIGENCE Value added Value added Uninformed Minimum cost Total uncertainty Informed Maximum cost Less uncertainty

  5. Typical applications for marketing research • Market analysis • New product/service development • Selection of brand names and packaging • Pricing decisions • Advertising and promotion decisions • Sales decisions • Service support and complaint handling decisions

  6. Typical data requirements:Market analysis • Market size • Market profitability • Market growth trends • Main products in the market • Customer attitudes and buying behaviours • Major competitors and market shares • Distribution patterns • Marketing strategies used in the market

  7. Typical data requirements:Product research Long range economic studies Satisfaction levels and trends with current products Gap between current products & perception New products Consumer research Competitor research Research from international markets Source: Hines

  8. Typical data requirements:Pricing decisions • Competitor product prices • Consumer attitudes to price • what would they expect to pay? • what would they be prepared to pay • Cost/price/volume - what quantities are likely to sell at different price levels?

  9. Typical data requirements:Advertising and promotion • Size of potential market • Demographic characteristics of users • Demographic profiles of segments • Behaviours and attitudes of different segments • Language used by customers in talking about product • Share of mind compared with competitors

  10. Typical data requirements:Sales decisions • Sales territories • Sales personnel efficiency • Sales statistics • Sales forecasts • Sales incentives • Distributor policy

  11. PGDM Summary • Marketing Research generates data and analysis for • Marketing Decisions • Four types of decision area:: • - Market Research • - Product Policy Research • - Pricing Research • - Communications Research

  12. Summary Primary objective of researcher is to provide: • Timely • Accurate • Relevant Data and analysis to Marketing Management Key word is ‘Robust”

More Related