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ENT4310 Business Economics and Marketing. Gathering Market Information Arild Aspelund. Outline. Environmental scanning – the responsibility of marketers Marketing Information Systems (MIS) Environmental analysis Competitive forces – Porter’s five forces PESTEL.

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ent4310 business economics and marketing

ENT4310Business Economics and Marketing

Gathering Market Information

Arild Aspelund

outline
Outline
  • Environmentalscanning – theresponsibilityofmarketers
  • Marketing Information Systems (MIS)
  • Environmentalanalysis
    • Competitiveforces – Porter’sfiveforces
    • PESTEL
the responsibility of marketeers
The responsibilityofMarketeers
  • Deliverinformation to topmanagementofmovements in the markets that have implication for allocationoffirmresources and firmstrategy
  • Provideinformationof market fads, trends, megatrends and competitivemovesthatregardfirmoperations
  • Emergenceofdemand for newproducts and services
  • Deliverfeasibility studies for new business proposals
  • Status reportsofongoing marketing and sales activities
marketing information systems mis
Marketing Information Systems (MIS)
  • An internalrecords system
    • Order-to-paymentcycles (thelogistics…)
    • Sales information and prognosis
    • Data mining
  • Marketing intelligence system
    • Procedures and sources for everydaydevelopmentof marketing environment
  • Marketing research system (ad hoc based)
    • Systematic design, collection, analysis, and reportingof data and findings related to a specificsituation or new business opportunity
rockart s critical success factor model
Rockart’sCriticalSuccessFactorModel
  • The roleofthe MIS is to assessthemanager’sinformationneeds, developtheneededinformation, and distributethatinformation in a timely manner
  • The MIS is designed to provide a continousflowofinformationonkeyfactorsthatregularlygoesintoeveryday marketing decision-making
  • The factorsthatgoesintothe MIS is determined by a studyofdecision-making in management
  • All information is stored for later analysis
rockart s critical success factor model1
Rockart’sCriticalSuccessFactorModel

Designing a CSF – marketing MIS

  • What decisions do you regularly make?
  • What information do you need to make these decisions?
  • What information do you regularly get?
  • What special studies do you periodically request?
  • What information would you want that you are not getting now?
what is going on
What is going on…?

Fad

Trend

Megatrend

environmental analysis
EnvironmentalAnalysis
  • P – Political
  • E – Economical and demographical
  • S – Social and cultural
  • T - Technological
  • E – Environmental and natural
  • L – Legal
environmental analysis1
EnvironmentalAnalysis

P – Political

  • Regulation and deregulation
  • Tax policy
  • Special Interest Groups

Economical and demographical

  • Income and dept distribution and growth
  • Populationcharacteristics and growth
    • Ethnicity, age, and educationalmix
  • Householdpatterns and non-traditionalhouseholds
  • Geographicalpatterns; urban versus rural
environmental analysis2
EnvironmentalAnalysis

S – Social and cultural

  • Society shapesnormes, values, and beliefsthatlargelydefines tastes and preferences
  • Peopleabsorb a worldview
    • Viewsaboutthemselves, others, organizations, society, nature and theuniverse
  • Corebeliefs versus secondarybeliefs
  • Subcultures

T - Technological

  • ”Creativedestruction”
  • Pace ofchange
  • IP management and dangersofimitation
environmental analysis3
EnvironmentalAnalysis

E – Environmental and natural

  • Pollution
  • Shortageofenergy and otherraw material such as water
  • Green customerpreferences and legislation

L – Legal

  • Lawsprotectingcompetition, consumers and society
  • Rights and powersofbuyers in relation to sellers
  • Labeling
  • Productsafety and liability
  • Privacy, managementof personal information and direct marketing
summary and conclusions
Summary and Conclusions
  • It is theresponsibilityofthemarketer to deliverinformation to topmanagementofmovements in the markets that have implication for allocationoffirmresources and firmstrategy
  • It is important to be able to distinguishfads from trends and megatrends. The latter twoarepredominantly profitable, the former potentiallyrisky…
  • Environmentalanalysismighthelpyouonyourway
    • Porters fivecompetitiveforces
    • PESTEL
  • Continuation
    • Market analysis
      • Customervalue and needs
      • Quality and satisfaction
      • Loyalty