Professional Documents
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Components of MIS
The role of the MIS is to assess the managers information needs, develop the
needed information and distribute the information in a timely fashion to the
marketing managers.
The following are the major components of MIS:
Internal marketing information/internal report system.
Marketing intelligence system.
Marketing research system.
Analysis and processing of information/analytical marketing system.
1. Internal Marketing Information: The most basic information system used by
marketing managers is the internal records system. They include detailed reports
on orders, sales, prices, inventory levels, receivables, payables and so on. By
analyzing this information, marketing managers can spot important opportunities
and problems.
Ex: The information that can be derived from sales invoices: Product type, size,
pack type, average value, volume of sale by territory, volume of sale by industry
and volume of sale by salespersons. By comparing orders received with invoices
an enterprise can establish the extent to which it is providing an acceptable level of
customer service.
2. Marketing Intelligence System: A marketing intelligence system is a set of
procedures and sources used by managers to obtain their everyday information
about relevant developments in the marketing environment. This scanning of the
economic and business environment can be undertaken in a variety of ways.
Unfocused scanning: The manager, by virtue of what he/she reads, hears
and watches expose him/herself to information that may prove useful.
Semi-focused scanning: The manager, is not in search of particular pieces
of information that he/she is actively searching but does narrow the range of
media that is scanned. Ex: The manager may focus more on economic and
business publications, broadcasts, etc., and pay less attention to political,
scientific or technological media.
Informal search: This describes the situation where a fairly limited and
unstructured attempt is made to obtain information for a specific purpose.
Ex: The marketing manager of a firm considering entering the business of
importing frozen fish from a neighboring country may make enquires in
ministries, international aid agencies, with trade associations,
importers/exporters, etc.
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Limitations of MIS
Installing the software is expensive.
Requires new set of skills.
Depends on database.
Not preferred.
MARKETING RESEARCH
Marketing research is defined as the systematic design, collection, analysis, and
reporting of data and findings relevant to a specific marketing situation facing the
company.
The Marketing Research Process: Effective marketing research follows the six
steps process as shown in the diagram:
Step 1: Defining The Problem And The Research Objectives:
Marketing managers must be careful not to define the problem too broadly
or too narrowly for the marketing researcher. A research problem refers to some
difficulty which a researcher experiences in the context of either a theoretical or
conceptual situation and wants a solution for it. A research problem exists when the
individual or the group having one or more desired outcomes are confronted with
two or more courses of action that have some but not equal efficiency for the
desired objectives and are in doubt about which course of action is best. Research
design is the conceptual structure within which research should be conducted.
Research designs can be grouped into three categories:
Exploratoryits goal is to shed light on the real nature of the problem and
to suggest possible solutions or new ideas.
Descriptiveit seeks to quantify demand.
Causalits purpose is to test a cause and effect relationship.
3. AV Birla Group: The AV Birla groups initiatives are channeled through the
Aditya Birla Center for Community Initiatives and Rural Development
spearheaded by Rajashree Birla (wife of Aditya Birla). The activities of the group
include innovative projects involving the development of rural youth and
employment generation, education and training and health care projects, helping
the disable people, social causes like widow remarriages, dowry-less marriages and
women empowerment programs. The Birla Academy of Art and Culture set-up in
1962 in Kolkata treasures art works and exquisite exhibits had has evolved into one
of Indias premier institutions for art and culture. The AV Birla group also offers
scholarships to students from IITs, IIMs and BITS (Pilani) to nature tomorrow's
leader. Only the best are selected for the coveted award and are called The Aditya
Birla Scholars.
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ETHICS IN MARKETING
Ethics: Ethics is the art and science of determining good and bad or right and
wrong moral behavior of a single or group of people.
MARKETING: Marketing is the science and art of exploring, creating, and
delivering value to satisfy the needs of a target market at a profit.
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Marketing Ethics: Marketing ethics is an area that deals with the moral principles
behind marketing. Ethics in marketing applies to different spheres such as in
product, pricing, Placing (Distribution), promotion & advertising etc...
Why we need Ethics in Marketing?
There are many reasons but will notify some:
When an organization behaves ethically, customers develop more positive
attitudes about the firm, its products, and its services.
To create Values or trust with key stakeholders
To build good image about the organization in the minds of customer,
employees, shareholders and the society.
Ethical Issues in Marketing:
We discuss Marketing issues by using 4PS OF MARKETING:
Product
Consumer safety
Product liability and reliability
Designing for special needs
Packaging
Label information
Packaging graphics
Packaging safety
Environmental implication of packaging
Price: Second P of Marketing
Bid rigging: Bid rigging is a form of fraud in which a commercial contract
is promised to one party even though for the sake of appearance several
other parties also present a bid. This form of collusion is illegal in most
countries.
Supra competitive pricing: supra competitive pricing is pricing above what
can be sustained in a competitive market. This may be indicative of a
business that has a unique legal or competitive advantage or of anticompetitive behavior that has driven competition from the market.
Price fixing: Price fixing is an agreement between participants on the same
side in a market to buy or sell a product, service, or commodity only at a
fixed price, or maintain the market conditions such that the price is
maintained at a given level by controlling supply and demand.
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favorite web links. It is in the context that products and brands are sometimes
discussed. It is here where companies can endeavor to further enhance the equity
of their brands and perhaps even to generate additional business. Much of appeal
of bogs is that a company can communicate directly with prospective customers,
who in turn can become active communicators through their own posted
comments.
Article Marketing: Article Marketing has been used by professionals for nearly as
long as mass print has been available. In proper paper-print form (as opposed to
online forms), article marketing is utilized commonly by business owners as a
means of obtaining free press space. Article Marketing is a type of advertising in
which businesses write short articles related to their respective industry. These
articles are made available for distribution has the potential of increasing the
authoring business credibility within its market as well as attracting new clients.
Buzz Marketing: Marketing Buzz or simply buzz a term used in word of mouth
marketing is the interaction of consumers and users of a product or service which
serves to simplify the original marketing message, a vague but positive association,
excitement, or anticipation about a product or service. Examples of products with
strong marketing buzz upon introduction were Harry Potter, the Volkswagen, New
beetle, Pokemon, Beanie Babies and the Blair Witch Project. Buzz marketing is a
marketing technique consisting, as its name suggests, of making a noise around a
new product or offer. Similar to virtual marketing, it differs from it in the control of
the content of the advertising message. Buzz marketing activities are designed to
get consumers talking about a product or service. Buzz fosters mystery, stimulates
questions, surprises audiences and exploits consumption contexts to generate the
desired behavior.
Viral Marketing: Viral Marketing and buzz Marketing are similar concepts, the
latter focusing particularly on the creation of an atmosphere of excitement or buzz
about a new product, often within a specific social group. Viral Marketing is
another form of word of mouth that encourages consumers to pass along company
developed products and services or audio, video, or written information to other
online. It can be word of mouth delivered or enhanced by the network effects of the
internet. Viral promotions may take the form of video clips, interactive flash
games, advergames, eBooks, brandable software, images, or even text messages.
Display or Banner Ads: The most popular advertising format in the internets
short advertising history has been the static advertisement known as a display or
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We know that Google has been placing additional emphasis on how mobilefriendly sites are; in fact, theyve stated that mobile usability is now relevant for
optimal search results. This emphasis is apparent in the recent launch of a new
feature in Google Webmaster Tools called Mobile Usability. We see many
businesses finally incorporating mobile into all areas of their digital marketing: a
fully responsive website, mobile ads, and separate content specifically for mobile
website users. Businesses will also begin to realize the necessity of having a
mobile social media strategy that considers how mobile users consume and interact
with social media posts.
Advantages of Online Marketing:
1. Global reach
2. Convenience
3. Opportunity for constraints Free Growth
4. Scope for enhancing customer value and customer services
5. Building relationships with customers
6. Helps reduces costs
7. Enhances productivity of sales people
8. Enhance the marketer adjust to market conditions quickly
9. Flexibility in marketing communications
10.Search advantage and wide options
Disadvantages of Online Marketing:
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