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Marketing C2-4 Notes.docx

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Department
Marketing
Course
MKC1200
Professor
David Toleman
Semester
Spring

Description
Chapter Two A marketing environment involves the actors and forces outside marketing that affect marketing management’s ability to develop and maintain successful transactions with its customers. The microenvironment is the forces close to the organisation that affect its ability to serve customers. E.g Competitors, publics and marketing channel firms etc. The macroenvironment is the larger societal forces that affect the whole microenvironment. There are six major forces: Economic, technological, demographic, natural, political and cultural. Marketing intermediaries help an organisation to promote, sell and distribute its goods to final buyers. Resellers are the distribution channel firms that help the organisation to find customers or make sales to them. Physical distribution firms help the organisation to stock and move goods from their points of origin to their destinations. Warehouse firms store and protect goods before they move. Marketing services agencies are the facilitating agencies – marketing research companies, advertising agencies, media firms and export consulting agencies – that help the organisation to target and promote its products to the right markets. Financial intermediaries include banks, credit organisations, insurance organisations and other businesses that help to finance transactions or insure against the risks associated with buying and selling goods. An organisation can operate in five different types of customer markets: 1. Consumer markets – Individuals and households that buy goods and services for personal or household consumption. 2. Business markets – Organisations that buy goods and services for further processing or for use in their production process. 3. Reseller markets – Organisations that buy goods and services in order to resell them at a profit. 4. Government markets – Government agencies that buy goods and services in order to produce public services or transfer these goods and services to others who need them. 5. International markets – Overseas buyers including customers, producers, resellers and governments. A public is any group that has an actual or a potential interest in, or impact on, an organisation’s ability to achieve its objectives. Chapter Three A marketing information system consists of people, equipment and procedures to gather, sort, analyse and distribute information to marketing decision makers. A good MIS balances the information managers would like to have against what they really need and what is feasible to acquire. Internal records are the information gathered from sources within the company to evaluate marketing performance and to detect marketing problems and opportunities. Marketing intelligence is the systematic collection and analysis of publicly available information about competitor and developments in the marketplace. Marketing research is the function that links the consumer, customer and public to the marketer through information. It is used to identify and define marketing opportunities and problems; to generate and refine marketing actions, to monitor marketing performance and to improve understanding of the marketing process. Market research is the systematic gathering, recording and analysing of data relevant to a particular market. Distributed marketing information systems involve entering information into databases and making it available in a user-friendly and timely way. The marketing research process comprises of four steps: 1. Define the problem and research objectives 2. Develop the research plan 3. Implement the research plan 4. Interpret and report the findings There are three types of research objectives: 1. Exploratory Research – Marketing research to gather preliminary information that will help to define problems better and suggest hypotheses. 2. Descriptive Research – Marketing research to describe marketing problems, situations or markets better such as the market potential for a product. 3. Causal Research – Marketing research to test hypotheses about cause-and-effect relationships. Observational research is the gathering of primary data by observing relevant people, actions and situations. (Best suited for gathering exploratory information) Survey research is the gathering of primary data by asking p
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