Download Market Research External

ENT4310
Business Economics and Marketing
Gathering Market Information
Arild Aspelund
1
Outline
• Environmental scanning – the responsibility of marketeers
• Marketing Information Systems (MIS)
• Environmental analysis
– Competitive forces – Porter’s five forces
– PESTEL
2
The responsibility of Marketeers
• Deliver information to top management of movements in the markets
that have implication for allocation of firm resources and firm strategy
• Provide information of market fads, trends, megatrends and
competitive moves that regard firm operations
• Emergence of demand for new products and services
• Deliver feasibility studies for new business proposals
• Status reports of ongoing marketing and sales activities
3
Marketing Information Systems (MIS)
a) An internal records system
•
•
•
Order-to-payment cycles (the logistics…)
Sales information and prognosis
Data mining
b) Marketing intelligence system
•
Procedures and sources for everyday development of marketing
environment
c) Marketing research system (ad hoc based)
•
4
Systematic design, collection, analysis, and reporting of data and findings
related to a specific situation or new business opportunity
Rockart’s Critical Success Factor Model
• The role of the MIS is to assess the manager’s information needs,
develop the needed information, and distribute that information in a
timely manner
• The MIS is designed to provide a continous flow of information on key
factors that regularly goes into everyday marketing decision-making
• The factors that goes into the MIS is determined by a study of
decision-making in management
• All information is stored for later analysis
5
Rockart’s Critical Success Factor Model
Designing a CSF – marketing MIS
• What decisions do you regularly make?
• What information do you need to make these decisions?
• What information do you regularly get?
• What special studies do you periodically request?
• What information would you want that you are not getting now?
6
Porter’s Competitive Forces
7
What is going on…?
Fad
Trend
Megatrend
8
Environmental Analysis
• P – Political
• E – Economical and demographical
• S – Social and cultural
• T - Technological
• E – Environmental and natural
• L – Legal
9
Environmental Analysis
P – Political
• Regulation and deregulation
• Tax policy
• Special Interest Groups
Economical and demographical
• Income and dept distribution and growth
• Population characteristics and growth
– Ethnicity, age, and educational mix
• Household patterns and non-traditional households
• Geographical patterns; urban versus rural
10
Environmental Analysis
S – Social and cultural
• Society shapes normes, values, and beliefs that largely defines tastes
and preferences
• People absorb a worldview
– Views about themselves, others, organizations, society, nature and the
universe
• Core beliefs versus secondary beliefs
• Subcultures
T - Technological
• ”Creative destruction”
• Pace of change
• IP management and dangers of imitation
11
Environmental Analysis
E – Environmental and natural
• Pollution
• Shortage of energy and other raw material such as water
• Green customer preferences and legislation
L – Legal
• Laws protecting competition, consumers and society
• Rights and powers of buyers in relation to sellers
• Labeling
• Product safety and liability
• Privacy, management of personal information and direct marketing
12
Summary and Conclusions
• It is the responsibility of the marketer to deliver information to top
management of movements in the markets that have implication for
allocation of firm resources and firm strategy
• It is important to be able to distinguish fads from trends and
megatrends. The latter two are predominantly profitable, the former
potentially risky…
• Environmental analysis might help you on your way
– Porters five competitive forces
– PESTEL
• Continuation
– A six-step model for market research
13