The Philippine Market Environment and Marketing Information & Market Research
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This document discusses market research and marketing information systems. It begins by defining key marketing concepts like markets, place, economics and marketing. It then outlines the main functions of marketing including research, buying, product development, promotion, pricing, distribution, financing and after-sales service. The document also differentiates between micro and macro environments and their influence on organizations. It defines a marketing information system as a way to gather and analyze marketing data for decision making. Finally, it outlines the process of conducting market research from defining the problem to analyzing data and preparing a report.
The Philippine Market Environment and Marketing Information & Market Research
- 1. • The Philippine Market Environment • Managing Information and Market Research (GROUP 2) Amagan, Charnel Asedillo, Sharlyn Joy Belmonte, Sophia Alliana Bersabe, John Phillip Bodestyne, Jenica Joy Burro, Joanna Mae
- 4. As a PLACE….. A public place where goods and services are offered for sale. A public gathering held for buying and selling merchandise. A store or shop that sells a particular type of merchandise.
- 5. In ECONOMICS….. A market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange.
- 6. In MARKETING..... In marketing, the term market refers to the group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product.
- 10. RESEARCH FUNCTION Enables you to generate adequate information regarding your particular market of target. BUYING FUNCTION The function of buying is performed in order to acquire quality materials for production.
- 11. PRODUCTION FUNCTION Performs by the production department and is interrelated to the marketing department. PRODUCT DEVELOPMENT & MANAGEMENT It is an essential function of marketing since it was the duties of the marketing department to identify what the market need or want and then design effective product based on the identified need and want of the market.
- 12. PROMOTION FUNCTION One of the core functions of marketing, since your finish product must not remain in the place of production, hence, you as a marketer must design effective communication strategies to informing the availability of your product to your target market. STANDARDIZATION & GRADING The function of standardization is to established specified characteristics that your product must conform to. Grading comes in when you sort or classify your product into different sizes or quantities.
- 13. PRICING FUNCTION Designing effective pricing system based on your product stage and performance in the product life cycle. DISTRIBUTION FUNCTION Ensure that your product is easily and effectively moved from the point of production to the target market. RISK BEARING FUNCTION Provide effective packaging system to support your product, good warehouse for the storage of your product until they are needed, effective transportation system to speedily deliver your product on time.
- 14. FINANCING FUNCTION Deals with the part of marketing to providing incomes for your business. AFTER SALES SERVICE Make provision in order to assist your customers after they have purchased your product.
- 16. Major external and uncontrollable factors that influence an organization’s decision making, and affects its performance and strategies. Totality of national and international institutional forces acting upon societies and organizations; dynamic of environmental interaction on a global scale. Universe of sociological elements that affect a company’s ability to serve its customers or sell its goods and services.
- 19. Factors or elements in an organization’s immediate area of operations that affect its performance and decision- making freedom. Nearby factors that affect a company’s ability to serve its customers, such as the company itself, suppliers, marketing intermediaries, customer markets and the public. Factors close to a business that has a direct impact on its business operations and success.
- 21. EMPLOYEES Employees exert an influence on your small business’ quality, operations and profitability through their activities. SUPPLIERS Your suppliers provide products or services you need to add value to your own products or services. MEDIA Media can mean printed, televised or online media.
- 22. PARTNERS OR INVESTORS One way you can improve your financial position is through selling a partial interest of your company to outsiders. Both shareholders and equity partners are stakeholders in your business. COMPETITORS Your competitors affect your business’ profit by trying to take business away from you, just as you try to take away their business.
- 23. CUSTOMERS The least controllable of the microenvironments affecting your business is the one where customers live.
- 27. MkIS in short, are designed specifically for managing the marketing aspects of the business. Intended to bring together disparate items of data into a coherent body of information. A system in which marketing data is formally gathered, stored, analyzed and distributed to managers in accordance with their informational needs on a regular basis. (Jobber, 2007)
- 28. People, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. (Kotler, et al. 2006)
- 29. FEATURES OF MARKETING INFORMATION SYSTEM (MkIS) 1. Continuous system 2. Basic objective 3. Computer-based system 4. Future-oriented 5. Used by all levels 6. Collects marketing information 7. Helps in decision making
- 31. The marketing information system primarily serves the company’s marketing and other managers. However, it may provide information to external partners, such as suppliers, resellers or marketing service agents. A good marketing information system balances the information users would like to have against what they really need and what is feasible to offer. The cost of obtaining, processing, storing and delivering information can mount quickly.
- 33. Marketers can obtain the needed information from: Internal data Marketing intelligence Marketing research
- 34. INTERNAL DATA Many companies build extensive internal databases, electronic collections of information obtained from data sources within the company. MARKETING INTELLIGENCE A systematic collection and analysis of publicly available information about competitors and developments in the marketing environment.
- 35. MARKETING RESEARCH The systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization.
- 37. Is the everyday information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy and market development metrics. It determines the intelligence needed, collects it by searching environment and delivers it to marketing managers who need it. It can be the name of the department that performs both the market intelligence and competitor analysis roles.
- 38. TRAIN AND MOTIVATE SALES FORCE A company’s sales force can be an excellent source of information about the current trends in the market.
- 39. MOTIVATE DISTRIBUTORS, RETAILERS AND OTHER INTERMEDIARIES TO PASS ALONG IMPORTANT INTELLIGENCE Specialists are hired by companies to gather marketing intelligence. NETWORK EXTERNALLY Every firm must keep a tab on its competitors.
- 40. SET UPA CUSTOMER ADVISORY PANEL Companies can set up panels consisting of customers. OPTIMAL USAGE OF GOVERNMENT DATA RESOURCES Governments of almost all countries publish reports regarding the population trends, demographic characteristics, agricultural production and a lot of other such data.
- 41. INFORMATION BOUGHT FROM EXTERNAL SUPPLIERS Certain agencies sell data that can be useful to other companies. COLLECT COMPETITIVE INTELLIGENCE THROUGH ONLINE CUSTOMER FEEDBACK Customer’s view about a product is most essential for any company.
- 43. The process or set of processes that links the consumers, customers and end users to the marketer through information---- information used to identify and define marketing opportunities and problems.
- 44. 1. Define the problem. 2. Determine research design. 3. Identify data types and sources. 4. Design data collection forms and questionnaires. 5. Determine sample plan and size. 6. Collect the data. 7. Analyze and interpret the data. 8. Prepare the research report.
- 45. PROBLEM DEFINITION The decision problem faced by management must be translated into a market research problem in the form of questions that define the information that is required to make the decision and how this information can be obtained. RESEARCH DESIGN Marketing research can be classified in one of three categories: • Exploratory research • Descriptive research • Casual research
- 46. DATA TYPES & SORUCES • SECONDARY DATA Secondary data may be internal to the firm such as published data or commercially available data. • PRIMARY DATA Primary data can be obtained by communication or observation. QUESTIONNAIRE DESIGN The questionnaire is an important tool for gathering primary data.
- 47. SAMPLING PLAN The sampling frame is the pool from which the interviewees are chosen. DATA COLLECTION In addition to the intrinsic sampling error, the actual data collection process will introduce additional errors. DATAANALYSIS Before analysis can be performed, raw data must be transformed into the right format.
- 48. MARKETING RESEARCH REPORT The format of the marketing research report varies with the need of the organization. The report often contains the following sections: Authorization letter for the research Table of contents List of illustrations Executive summary Research objectives Methodology Results Limitations Conclusions and recommendations Appendices containing copies of questionnaires, etc.
- 49. CONCLUDING THOUGHTS Marketing research by itself does not arrive at marketing decisions, nor does it guarantee the organization will be successful in marketing its products.