Marketing 1.05 – Marketing Information Management – Flashcards
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what are the three types of information used in marketing decision making?
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customer, Marketing mix, business environment
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what are the four marketing segments?
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Demographics, Geographics, Psychographics, Behavioral
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what is marketing mix?
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Product, Price , Place, Promotion
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why does a business use the SWOT Analysis?
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type of competition, competitors' Strengths , competitors' strategies, economic conditions, government regulations, new technology, ethical issues , tax policies, proposed laws , international markets, customer protection
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Define SWOT:
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Strengths, Weaknesses, Opportunities, Threats
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what can be identified using the Marketing Information?
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potential customers, potential products, marketing opportunities, solve marketing problems, implement marketing plans, and monitor marketing performance
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what are the impacts of Marketing information on marketers?
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solve problems, helps answer questions about their product and promotion, future plans , understand markets.
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what are the two ways marketers use marketing information?
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analyze, track
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define ANALYZE
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summarizing, combining, or comparing information so that decisions can be made.
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explain TRACK
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track what is happening in current markets- determine major competitors, what major competitors are offering, which products consumers prefer, customer satisfaction with product.
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Sales and Expense reports monitored for marketing data
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Market Share Analysis Sales Volume Analysis
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Market Share Analysis
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the percentage of all sales within a market that is held by one brand/ product or company.
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Sales Volume Analysis
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a detailed study of an organization's sales, in terms of units or revenue, for a specific period.
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Information provided by salespeople
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request&complaint reports, lost sales reports, call reports, activity reports, retail audit, product info reports
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request& complaint reports
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products customers requested and problems customers reported
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lost sales reports
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cancelled orders or under stocked items
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call reports
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what happened in each sales call
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activity reports
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all travel, phone calls and in person sales calls for a give period of time
