1. Marketing 1.05 MIM
Acquire foundational knowledge of MIM to understand it’s nature and scope

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

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

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

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

6. 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.

7. 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.

8. Ways Marketers Use Marketing Information
Analysis
the process of summarizing, combining, or comparing information so that decisions can be made.
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

9. With a partner Identify a current problem in marketing.
From your notes, describe types of marketing information that could be obtained to resolve the problem.
You are the Marketer, How would you solve the problem.
Present to Class.

10. Marketing 1.05 MIM
Acquire foundational knowledge of MIM to understand it’s nature and scope

11. 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

12. Information about customers that is monitored for marketing decision-making.
Demographic data (age, gender, ethnicity, job, income, marital status)
Buying habits (time of day, repeat products purchased, amount spent on each transaction—full price or on sale, types of products)
Ex: Saturday is when most people do major grocery shopping
Credit record: do customers pay their bills on time
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)

14. Neighbor Talk
Would you mind be spied on by your favorite store if it benefited you??

15. 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, (long lasting)?
Financial records for public companies that you compete with (i.e. annual reports)
Insight into competitors’ strengths, weaknesses, and future plans (new products, marketing campaigns)
Market share analysis
Sales volume data

16. How Companies Learn Your Secrets
Read on Wiki:
How Companies Learn Your Secrets
Write a one page summary of the article including your arguments for or against companies knowing your secrets.