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Marketing > Collecting Information > Flashcards

Collecting Information Flashcards

1
Q

Components of a modern marketing information system (MIS)

A
  • Internal company records
  • Marketing intelligence activities
  • Marketing research
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2
Q

Different internal records

A
  • Internal reports of orders
  • Sales
  • Prices
  • Costs
  • Inventory levels
  • Receivables
  • Payables
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3
Q

What is a Markteting Intelligence System

A

A set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment

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4
Q

How to improve marketing intelligence

A
  • Motivate sales force to report new developments
  • Motivate intermediaries to pass along intelligence
  • Hire external experts to collect intelligence
  • Network internally and externally
  • Set up a customer advisory panel
  • Take advantage of government-related data
  • Purchase information from outside research vendors
  • Collect marketing intelligence on Internet
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5
Q

Markting intelligence on the internet

A
  • Independent customer review forums
  • Distributor/sales agent feedback sites
  • Customer complaint sites
  • Public blogs
  • Combo sites offering customer reviews and expert opinions
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6
Q

Communicating & Acting on MI

A

The competitive intelligence function works best when it is closely coordinated with the decision-making process

Given the speed of the Internet, it is important to act quickly on info gleaned online

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7
Q

Analysing your macro environment

A

Needs and Trends:
• Fad
• Trend
• Megatrend

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8
Q

Identifying major forces - PESTEL-Analysis

A
  • Political
  • Economic
  • Socio-cultural/Demographic
  • Technological
  • Environmental/Ecological
  • Legal
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9
Q

The demographic environment

A
  • Worldwide population growth
  • Population age mix
  • Ethnic and other markets
  • Educational groups
  • Household patterns
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10
Q

The economic environment

A
  • Consumer psychology
  • Income distribution
  • Income, savings, debt, credit
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11
Q

What are educational groups?

A

A group of people sharing the same view, the same habits and way of thinking according to the way they were educated.

e.g. Germans reading the instructions on medication leaflets, because they were teached to do so

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12
Q

What is the GINI-Coefficient?

A

It shows us how the income is distributed.

Ideal would be a Gini-coefficient of 0 (total equality), but unfortunately, the income distribution becomes even more unequal.

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13
Q

In which economies is income distributed?

A
  • Subsistence economies
  • Raw-material-exporting economies
  • Industrializing economies
  • Industrial Economies
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14
Q

How can income be distributed?

A
  • Very low incomes
  • Mostly low incomes
  • Very low, very high incomes
  • Low, medium, high incomes
  • Mostly medium incomes
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15
Q

The sociocultural environment

A
  • Views of ourselves
  • Views of society
  • Views of nature
  • Views of the universe
  • Views of organization
  • Views of others
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16
Q

The views of ourselves

A

One view: “I want …” “I like …” > an individual with own choices

Other view: “My father did …” “I am the husband of …” > we define ourselves through our family > less choice > individual defined by family members

17
Q

The views of society

A

o Societies are there to help, to support the weak (dignity), “we are all in the same boat”

o You don’t owe anything to society and society doesn’t owe anything to you., “me, myself and I”

18
Q

The views of nature

A

o No fear of nature: nature is pleasent and to our pleasure. it is there to provide us with food, etc.

o Fear of nature: nature is a threat to human life (e.g.: floods, earthquakes, …)

19
Q

The views of the universe

A

o Religious believes (Do they even believe that somebody created the universe?)

o People who believe in evolution, people are not religious

20
Q

The views of organization

A

o Marketplace: An organization, in which people feel freer (this is UK, e.g.: they even change their church quite often and on their free will)

o Pyramid: An organization very hierarchical (this are France, Japan),

o Machine: Does the organization function (this is Germany: it is not about friendliness, it is about if it functions or not, you need to fulfill your purpose)

21
Q

The views of others

A

The idea of placing everybody between two extremes.

E.g.: They’re not friends, thus, they are enemies (in the US, there were so many mass shootings that the people believe: “if enough good people have guns, nothing similar will happen anymore”)

22
Q

Core Cultural Values

A

o Values are passed from parents to children and reinforced by social institutions

o They do not change that often

23
Q

Transitory Values

A

Values that change over time, values that were common for a certain period

24
Q

Subcultures

A

o Groups with shared values, beliefs, preferences, and behaviours emerging from their special life experiences or circumstances

e.g.: The Bio-Vegan-Subcultures in Western Europe

25
Q

The natural environment

A

Corporate environmentalism

  • Opportunities await those who can reconcile prosperity with environmental protection
  • Companies are rewarded for protecting the environment during production
26
Q

The technological environment

A

• Accelerating pace of change
(Smartphones are a very recent invention; however, billions of people own one today)

• Unlimited opportunities for innovation
(e.g.: innovate to zero (produce energy to the cost of zero)

• Varying R&D budgets
(The money on new technology mostly goes to military)

• Increased regulation of technological change
(Every technological change needs certain regulations (they are new, so new rules need to be introduced))

27
Q

The politival-legal environment

A
  • Laws
  • Government agencies
  • Pressure groups

Marketing (13 decks)

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