Unit II

Unit II : 

krishna prasad Unit II Marketing information systems Marketing Research Consumer Behavior Market Segmentation &Targeting Buying Decision process Organization Buyer Behavior

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krishna prasad Marketing Information System A marketing information system consists of people, equipment and procedures to gather sort analyze and distribute needed timely and accurate information to marketing decision makers

Marketing Research : 

krishna prasad Systematic gathering recording and analyzing of data about problems relating to the marketing of goods and services Marketing Research

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krishna prasad Marketing information Internal Records The order to payment cycle Sales information Systems, database Marketing Intelligence By news papers Marketing decision support analysis Marketing Research

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krishna prasad Marketing Research Process Define The problem &Research objectives Develop Research plan Collecting The inform- action Presenting The findings Make the decision Characteristics of marketing research 1.Scientilfic method 2.Resarch creativity 3.Multiple method 4.Interdependence of models & data 5.Value and cost information 6.Healthy skepticism 7.Ethical marketing

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krishna prasad Steps in marketing research 1,Define the problem Industry elements Competitive elements Market elements Company elements 2.Specify the value of information 3.Select the data collection approach Secondary data – internal, external Survey data Experimental data (laboratory experiments, field experiments) 4.Select the measurement technique Questionnaire, attitude scale-rating scale, composite scale,multi dimensional scales, conjoint analysis 5.Select the sample Population ,sample frame, sample unit, sampling methods, simple size, sample plan, execution 6.Select the analytical method 7.Prepare the research report

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krishna prasad Applications of marketing research Product research Research of markets Research on consumers Research on advertising &promotion Research on sales methods Research on competition Advantages Risk reduction Opportunity discovery types In-house marketing research External research

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krishna prasad Consumer behavior Consumer behavior is the process whereby individuals decide whether what when how and from whom to purchase goods and services factors cutuitural economic social personal Psychological Culture Subculture Social class Income income Expectations Consumer Credit liquid assets Reference groups Family Opinion leaders Roles & status Age lifecycle Occupation Economic Circumstances Life style personality Motivation Perception Learning Personaliytraits Attitudes Belief&attitudes Types: Complex buying behavior, Habitual buying, Variety seeking buying, Reducing Buying behaviors

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krishna prasad Market Segmentation Market segmentation is referred to as the process of subdividing market Target marketing is a selection of a distinct market segment at which to direct market strategy Positioning is the act of designing the company’s product to fit a place in the consumer mind segmentation geographical demographical psychographic Behavioral Region Climate Density of population Age, gender Status Family Size occupation Social class Rich Poor middleclass Lifestyle Characteristic Personality Occasions Beliefs Status loyalty

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krishna prasad Benefits of market segmentation 1.Increase in sales volume 2.Consumer behavior analysis 3.Maximum utilization of resources 4.Sound marketing program Effective segmentation: key criteria Measurable, substantial, accessible, differentiable, actionable

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krishna prasad Target market unaware aware Not tried tried Negative opinion neutral favorable rejecter Not yet repeated repeated Loyal to Other brand switcher Loyal to brand Light user regular user Heavy user

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krishna prasad buy Buying decision process Problem recognition in Information search Evolution of alternatives Purchase decision Post purchase behavior

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krishna prasad Organizational buying characteristics Fewer, larger buyers, close supplier, customer relationship, professional purchasing Several buying influences, multiple sales calls, derived demand, inelastic demand, fluctating demand, geographically concentrated buyers, direct purchasing