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Capabilities for Continuous
Learning about Markets
Chaudhry Muhammad Nadeem Faisal
Cell: 0305-7761061
Email: [email protected]
B-Email: [email protected]
Url: www.littlemichael.co.uk/faisal/index.htm
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Business Intelligence: www.ayaantraders.com/bi/index.php
Capabilities for Continuous
Learning about Markets
Marketing Research Information
The starting point in obtaining the marketing research
information is the problem to be studied, indicating the
specific objective and information need to help in
solving the problem. These types of information
gathered form research report, internal record, external
record and many other resources.
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
"Marketing research is the function that links the consumer,
customer, and public to the marketer through information information used to identify and define marketing opportunities
and problems; generate, refine, and evaluate marketing
actions; monitor marketing performance; and improve
understanding of marketing as a process. Marketing research
specifies the information required to address these issues,
designs the methods for collecting information, manages and
implements the data collection process, analyzes, and
communicates the findings and their implications."
Capabilities for Continuous
Learning about Markets
Marketing Research Information
Collecting Existing Information
The
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
internal information system help to find the existing
information, the scope and nature of information and
information system vary form firm to firm. May firm have
extensive information system and have capabilities for these
type of systems CRM. Using the Information system is
essential for strategic mission and it also need to manage.
These type of information not only have the information about
he product but also useful for future scanning and opportunity.
The product mix and the nature of the business operation
influence what type of internal marketing information system
is appropriate for a particular firm. Electronic information are
essential in all types of organization. Because the
manufacturing required the different information as supplier or
retailer (whole seller)
Capabilities for Continuous
Learning about Markets
Marketing Research Information
Standardized Information Services
A wide variety of marketing information is available for purchase in
special publication and on a subscription basis. In some
instances the information may be free for example in online
statistical databases. Sources Including government, public and
private research firm, universities, trade organization and
consultants. A key advantages of standardize information is that
the cost of collection and analysis are share by many users. The
major limitation is that the information may not correspond well
with the users individual needs
Limitation of the research
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng

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Access to information
Access to resources
Time management
Access to experts for editing, proofreading, and guidance
Support from organizations and participants
Capabilities for Continuous
Learning about Markets
Marketing Research Information
Special Research studies
Research studies are initiated in response to problems or special
information needs, example market segmentation, new product
concepts, product sue test, Brand name research.
Studies may range in scope form exploratory research based
primarily on analysis of published information to field survey,
involving personal phone or mail interview with respondent who
represents target populations. Considerable recent attention has
been given to qualitative research using focus group, rather
then boarder more representative survey.
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Research studies follow a step by step processes beginning with
defining the problem.
Capabilities for Continuous
Learning about Markets
Marketing Research Information
defining the problem.
Care must be exercised in formulating the research problem it is
essential to spell out exactly what information is needed to
solve the problem, It is useful to prepare a written statement of
the research problem, specify objective.
The management needs to clearly define the intended and many
choose the choose to involve the research suppler to solve the
problems
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Capabilities for Continuous
Learning about Markets
Marketing Research Information
Quality of the research
There are different challenges to obtain the accurate
results . The current studies show that some studies are
not well designed and implemented and may conation
misleading results. Factor that affect the quality of
studies
results
include
the
personal
research
experience, collection and evaluation of data, managing
the careful process for data collection, the size of
sample and wording of question and how to data are
analyzed.
Blekinge Institute of Technology
Evaluating and selecting supplier
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Typically the reach studies are not conducted by the uses.
When selecting a supplier it is important to talk with
two of three clients to determine their with research
firms.
Capabilities for Continuous
Learning about Markets
Marketing Research Information
It is also important to identify the consultant who are experienced
on conducting the particular type of research needed by the
users
experience and qualification are important is selecting s
supplier and also spending time to evaluate the suppliers.
Costs
Customized research are expensive. The factor that affect the
study cost sample, size the length of the questionnaire, and
how the information will be obtained. The complexity of the
study objective and analysis methods also increase the cost.
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Capabilities for Continuous
Learning about Markets
Marketing Research Information
Qualitative Research
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Qualitative research seeks out the ‘why’, not the ‘how’
of its topic through the analysis of unstructured
information – things like interview transcripts,
emails, notes, feedback forms, photos and videos. It
doesn’t just rely on statistics or numbers, which are
the domain of quantitative researchers. Qualitative
research is used to gain insight into people's
attitudes, behaviors, value systems, concerns,
motivations, aspirations, culture or lifestyles. It’s
used to inform business decisions, policy formation,
communication and research. Focus groups, indepth interviews, content analysis, ethnography,
evaluation and semiotics are among the many
formal approaches that are used, but qualitative
research also involves the analysis of any
unstructured material, including customer feedback
forms, reports or media clips
Capabilities for Continuous
Learning about Markets
Marketing Research Information
The marketing research Industry
The suppliers of qualitative & quantitative Reach are likely to be
Marketing reach forms. In 2003 the top 50 Us research firs had
revenue of $ 11.6 billion. Nearly half these where from outside
of the united sates
The
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
impact of
availability
internet
on
marketing
information
cost
and
Many traditional guidelines to the availability and the use of existing
information, standardize services and special studies re
challenged by the major impact of internet. The wed offer
greatly enhanced accessed to online information. It is also very
useful for speed online surveys, and questionnaire.
Capabilities for Continuous
Learning about Markets
Information system
The are many types of information system within the organization.
Manual system are also useful for crucial information. Here we
focus on computer based information system. Strategic system
are those that change the goals, product, services and
environmental relationship with an organization.
These information alter how a firms does business with competitors,
supplier or customers. These system also provide the
information to asst decision makers with strategic planning or
may actually prepare a plan or formulate decisions
Here very briefly discuss these type of information system,
management information system , Database system and
decision support system.
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Capabilities for Continuous
Learning about Markets
Information system
Management Information System
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
A management information system (MIS) is a system or
process that provides the information necessary to
manage an organization effectively. MIS and the
information it generates are generally considered
essential components of prudent and reasonable
business decisions. The importance of maintaining a
consistent approach to the development, use, and
review of MIS systems within the institution must be an
ongoing concern of both bank management and OCC
examiners. MIS should have a clearly defined
framework of guidelines, policies or practices,
standards, and procedures for the organization. These
should be followed throughout the institution in the
development, maintenance, and use of all MIS.
Capabilities for Continuous
Learning about Markets
Information system
Management Information System
MIS is viewed and used at many levels by management. It
should be supportive of the institution's longer term
strategic goals and objectives. To the other extreme it
is also those everyday financial accounting systems that
are used to ensure basic control is maintained over
financial recordkeeping activities.. Financial accounting
systems and subsystems are just one type of
institutional MIS.
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
An institution's MIS should be designed to achieve the
following goals:
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Enhance communication among employees.
Deliver complex material throughout the institution.
Provide an objective system for recording and
aggregating information.
Capabilities for Continuous
Learning about Markets
Information system
Management Information System


Reduce expenses related to labor-intensive manual
activities.
Support the organization's strategic goals and direction.
MIS is a critical component of the institution's overall risk
management strategy. MIS supports management's
ability to perform such reviews. MIS should be used to
recognize, monitor, measure, limit, and manage risks.
Risk management involves four main elements:
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
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Policies or practices.
Operational processes.
Staff and management.
Feedback devices.
Capabilities for Continuous
Learning about Markets
Information system
Database System
Data base system comprise an important information resources in
many companies. Like the Tesco use the database system
(loyalty club data ) to indicate demographic, income and
housing characterizes of the consumers.
Database are form of MIS. Some data base system offers
capabilities similar to decision support system. Computerized
database are indispensible for companies pursuing direct
marketing strategies.
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Capabilities for Continuous
Learning about Markets
Information system
Decision support System
Decision support system (DSS) assists in the decision-making
process using the information captured by MIS. A marketing
decision support system Integrate data that are not easily
found, assimilated, formatted or readily manipulated with
software and hardware into a decision marking processes that
provide a marketing decision maker with assistant when
needed. A MDSS can be used for various level of decision
making ranging form determining reorders points for inventory
to launching new product.
The components of MDSS
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng

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Database
Display
Models
Analysis
Capabilities for Continuous
Learning about Markets
Information system
Decision support System
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
 Database
Various kind of information are included in the database
 Display
Enable the user to communicate with database. Manager and other
staff need to interact with database
 Models
It provide the mathematical and computational representation of
variable and their interrelationship.
 Analysis
This capabilities consists on of various methods such as regression
analysis, factor analysis, time series, and preference mapping.
Software capabilities may be include in the system. Analysis
may be on data set to study relationship, identify trends
prepare forecast, and examine the impact of alternative decision
rules
Capabilities for Continuous
Learning about Markets
Market Intelligence system & Knowledge Management
Market Intelligence system
A
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Market Intelligence System (MkIS) is one that
systematically gathers and processes critical business
information,
transforming
it
into
actionable
management intelligence for marketing decisions.
Alternative term for marketing information system is
know as market intelligence system
Market intelligence is not just about market information,
but the whole gamut of external environment
information needed to support key strategic decisions about products, prices, investment priorities, entering
joint ventures etc. The system is not purely a
computer-based system. It is a total system that
incorporates human processes for interpreting and
processing information into intelligence. The processes
must be systematic, since only regular monitoring of
key external parameters and integration of disparate
snippets of information will give a viable long-term
intelligence base.
Capabilities for Continuous
Learning about Markets
Market Intelligence system & Knowledge Management
Market Intelligence system
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Market and customer orientation - implementing an
MkIS will encourage people throughout the organization
to focus externally.

Identification of new opportunities One company in a
component industry identified a new trend before the
'expert' industry analysts.
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Early warning of competitor moves - through good
intelligence, One chemical company thwarted the sitting
of a competitor's manufacturing plant in one of their
most profitable sales territories.

Minimizing investment risk - ongoing intelligence and
analysis is more likely to temper unbridled enthusiasm
to follow the bandwagon into those "mustn't miss the
window of opportunity" markets
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Capabilities for Continuous
Learning about Markets
Market Intelligence system & Knowledge Management
Market Intelligence system
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng

Better customer interaction - An insurance company
downloads into their salespeople's portables up to date
profiles, order history and relevant 'news bites', for the
clients they are about to visit.

Better market selection & positioning - good
understanding of customer needs and competitor
positioning will help a company better carve out its own
unique niche

Quicker, more efficient and cost-effective information establishment of a system will make information more
quickly and easily accessible. One company avoided the
need for an expensive piece of market research by
tapping into its existing MkIS.
Capabilities for Continuous
Learning about Markets
Market Intelligence system & Knowledge Management
Knowledge Management
Knowledge management is the management of the organization
towards the continuous renewal of the organizational knowledge
base - this means e.g. creation of supportive organizational
structures, facilitation of organizational members, putting ITinstruments with emphasis on teamwork and diffusion of
knowledge (as e.g. groupware) into place
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
KM comprises a range of strategies and practices used in
an organization to identify, create, represent, distribute,
and enable adoption of insights and experiences. Such
insights and experiences comprise knowledge, either
embodied in individuals or embedded in organizational
processes or practice. Many large companies and nonprofit organizations have resources dedicated to internal
KM efforts, often as a part of their 'business strategy',
'information
technology',
or
'human
resource
management' departments
Capabilities for Continuous
Learning about Markets
Market Intelligence system & Knowledge Management

Designing and installing techniques and processes to create,
protect, and use known knowledge.
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Designing and creating environments and activities to discover
and release knowledge that is not known, or tacit knowledge.

Articulating the purpose and nature of managing knowledge as
a resource and embodying it in other initiatives and programs
Knowledge Officer responsibility
The primary task of a first-generation CKO is to articulate a
knowledge management program. This task is twofold:

making employees aware of the nature and value potential of
knowledge;

and selling the concept of knowledge management to both
corporate and line local management.
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Capabilities for Continuous
Learning about Markets
Market Intelligence system & Knowledge Management
Knowledge Officer responsibility
CKOs spend a lot of time walking around the organization looking
for their knowledge champions:
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng

Must have knowledge partners

Must have ideas and projects

Must get people to commit to any major behavior change or to
a knowledge management project
Capabilities for Continuous
Learning about Markets
Ethical Issue in collecting and using the Information
Lastly the important privacy and ethical issues concerning the role
of information in the organization need to assessed by
managers and professionals
Invasion of customers Privacy
The dramatic increase in use of databases has generated about the
invasion if the privacy of individuals. Companies have
responded to the issues by asking customers to indicate their
preference concerning main list and other used of the
information.
Information and Ethics
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
Related to the issues of invasion and privacy is the issues of how
the companies and research supplier should respond to the
ethical issues. For example should a prospective client share a
suppliers detailed project proposal with other competing
suppliers
Capabilities for Continuous
Learning about Markets
Ethical Issue in collecting and using the Information
A central issues concerns which organization pays for the cost of
preparing the proposal if the proposal is prepared at the
expense of the suppliers the proposal is the property of
suppliers. Sharing the proposal with its completion would be an
issued of questionable ethics. Other issues relate to the ways in
which information is collect and from whom it is collected. There
are major professional restriction in collecting the information
form children's.
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
References
Blekinge Institute of Technology
SE-371 79 Karlskrona
+46 455 38 50 00
www.bth.se/eng
1.
Victoria L. Crittenden, “ Strategic Marketing management ” , McGraw-Hill, NY,2002.
2.
Philip R. Cateora, International Marketing, 9th edition 2000, alpha Sky Printer.
3.
http://www.briantracy.com/blog/sales-success/analyzing-your-competition/
4.
http://www.associatedcontent.com/article/259290/developing_a_strategic_vision.html
5.
D Cravens, N Piercy, Strategic Marketing, 8th edition, McGraw Hill, 2005
6.
V Rao, J steckel, Analysis for strategic Marketing, Addison Wesley Longmsn, Inc, 1998.
7.
Fred R. David, Strategic Management, 6th edition, Prentice-hall, Inc, 1997.