1. Acquire foundational knowledge of marketing-information management to understand its nature and scope
Marketing
Indicator 1.05

2. REVIEW
Marketing Information Management (MIM) – the process and methods used to gather information, analyze it, and report findings related to marketing goods and services.

3. WHY IS MARKETING RESEARCH IMPORTANT?
Businesses that do not pay attention to what consumers are buying and why are likely to make costly marketing mistakes.
Information obtained from research helps businesses increase sales and profits.

4. MARKETING INFORMATION SYSTEMS
Marketing Information Systems (MIS) – a set of procedures and methods that regularly generates, stores, analyzes and distributes information for use in making marketing and other business decisions.
Most MIS rely heavily on:
Data about current customers
Overall product sales reports
Inventory levels

5. MARKETING INFORMATION SYSTEMS
Marketers use MIS to:
Design advertising campaigns
Develop promotional plans
Sell directly to customers

6. MARKETING INFORMATION SYSTEMS
Data that should be included in MIS:
Customer profile data, such as:
Previous marketing studies regarding buying behavior
Shopping patterns
Customer demographics
Lifestyles research
Company records, such as:
Sales results
Expenses
Supplier data
Production schedules

7. MARKETING INFORMATION SYSTEMS
Data that should be included in MIS (cont’d):
Government data, such as:
Price trends
New regulations and laws
Future projections for the economy
Marketing research reports that are produced and sold by research firms.

8. Three types of information used in marketing decision making
Customer
Marketing mix
Business Environment

9. Customer Information Age How money is spent Brand preferences Gender
Attitudes
Information needs
Income
Primary needs
Education
Media preferences
Family size
Product purchases
Home ownership
Shopping behavior
Purchase frequency
Address
Occupation

10. Marketing Mix Basic Products Product Features Services
Product packaging
Guarantees
Repairs
Credit Choice
Discounts
Promotion Methods

11. Business Environment Type of competition New technology
Competitors’ strengths
Consumer protection
Ethical issues
Competitors’ strategies
Tax policies
Proposed laws
Economic conditions
International markets
Government regulations

12. Why is Marketing Information Needed?
To identify:
1. potential customers
2. potential products
3. marketing opportunities
4. solve marketing problems
5. implement marketing plans
6. monitor marketing performance.

13. MARKETING RESEARCH ANSWERS THESE QUESTIONS:
What products to produce
At what price to sell the products
Who will buy the products
How the products will be promoted
Helps businesses solve marketing problems
Gauge the potential of new ideas
Keep track of current trends in the marketplace

14. The Impact of Marketing Information on Marketers
Marketing research is used when a business needs to solve problems.
Helps answer questions about what to produce, at what price to sell the products, who will buy the products, and how to promote the products
Helps businesses plan their future operations to increase sales and profits.
Understand markets.
Companies keep track of what happening in current markets.

15. Ways Marketers Use Marketing Information
Analysis----the process of summarizing, combining, or comparing information so that decisions can be made.
Analysis example:
Planning a promotional budget
Analyzing the effectiveness of one retailer in a channel of distribution
Analyzing the costs of marketing activities for national and international activities
Product Example: Stouffer’s Lean Cuisine—13 years of market research
Develop product
Test package design
Hold pilot sales in large cities to test market first
Track what is happening in current markets
Determine major competitors
What major competitors are offering
Which products consumers prefer
Customer satisfaction with product

16. Information contained in sales and expense reports that is monitored for marketing decision-making.
Market Share Analysis — the percentage of all sales within a market that is held by one brand / product or company. Normally measured by sales revenue or sales volume (the number of units sold)
Sales Volume Analysis — A detailed study of an organization's sales, in terms of units or revenue, for a specified period .
Accounting Information
Spending
Profitability
Sales
Discount on sale?
What expenses went into each sale?
Cost
Inventory
Payroll
Commission on sale?

17. Information in reports provided by salespeople that is monitored for use in marketing decision-making.
Request & Complaint reports/products customers requested and problems customers reported
Lost sales reports/ cancelled orders or under stocked items
Call reports/what happened in each sales call
Activity reports/ all travel, phone calls and in person sales calls for a given period of time
Retail audits to measure market sales, competitor’s sales, market share, prices, special offers, stock levels by week or day
Product information reports– types of products that sell best at various times of year; colors or sizes of products customers prefer

18. Information about customers that is monitored for marketing decision-making.
Demographic data (age, gender, ethnicity)
Buying habits (time of day, repeat products, amount spent—full price or on sale, types of products)
Ex: Diapers and beer purchased by men on Thursdays and Saturdays
Ex: Saturday is day most people do major grocery shopping
Credit record
Job
Income level
Marital status
Customer requests (what products or varieties are requested that you don’t carry)
Receipts (is a certain neighborhood or ZIP code frequenting your establishment more than others)

19. MARKETING RESEARCH DETERMINES COMPETITION:
Who are the company’s major competitors?
What its competitors are offering. (not just product: Promotions/Financing/Service etc)
Which products its competitors are offering.
How satisfied customers are with its competitors products.

20. Explain information about competitors that is monitored for marketing decision-making.
USP’s (unique selling points) of our product vs. competition to find our advantage. Is that advantage sustainable?
Financial records for public companies (GE, Ford, Apple)
Insight into company’s strengths, weaknesses, and future plans (new products, marketing campaigns)
Market share analysis
Sales volume data

21. MARKETING RESEARCH IS MOST OFTEN USED BY COMPANIES TO:
Determine consumers’ attitudes and preferences
Test product features
Determine market size and growth potential
Learn about competitive products
Determine buying cycles
Understand how the company is perceived by the public

22. Procedures for identifying information to monitor for marketing decision-making.
Identify needed data
Create a plan for collecting, storing and analyzing data
Compile a list of secondary sources providing needed data
Retrieve needed data
Analyze/use data