Marketing: Helping Buyers Buy Chapter 5 PDF

Marketing: Helping Buyers Buy (Research, environment scanning and segmentation) Chapter 5 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Thirteen...

Marketing: Helping Buyers Buy (Research, environment scanning and segmentation) Chapter 5 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Thirteen LEARNING GOALS 1. Summarize the marketing research process 2. Scanning the environment 3. Marketing segmentation 13-2 Providing Marketers with Information SEARCHING for INFORMATION LG3 Marketing Research -- Analyzing markets to determine challenges and opportunities, and finding the information needed to make good decisions. Research is used to identify products consumers have used in the past and what they want in the future. Research uncovers market trends and attitudes held by company insiders and stakeholders. 13-3 The Marketing Research Process FOUR STEPS in the MARKETING LG3 RESEARCH PROCESS 1. Defining the problem or opportunity and determining the present situation. 2. Collecting research data. 3. Analyzing the data. 4. Choosing the best solution and implementing it. 13-4 The Marketing Research Process DEFINING the PROBLEM or LG3 OPPORTUNITY What’s the present situation? What are the alternatives? What information is needed? How should the information be gathered? 13-5 The Marketing Research Process COLLECTING SECONDARY LG3 RESEARCH DATA Secondary Data -- Existing data that has previously been collected by sources like the government. Secondary data incurs no expense and is usually easily accessible. Secondary data doesn’t always provide all the needed information for marketers. 13-6 The Marketing Research Process COLLECTING PRIMARY LG3 RESEARCH DATA Primary Data -- In-depth information gathered by marketers from their own research. Telephone, online and mail surveys, personal interviews, and focus groups are ways to collect primary data. 13-7 The Marketing Research Process FOCUS GROUPS LG3 Focus Group -- A group of people who meet under the direction of a discussion leader to communicate opinions. 13-8 The Marketing Research Process ANALYZING the DATA and LG3 IMPLEMENTING the DECISION Marketers must turn data into useful information. Must use their analysis to plan strategies and make recommendations. Finally, marketers must evaluate their actions and determine if further research is needed. 13-9 The Marketing Research Process KEY BENEFITS of MARKETING LG3 RESEARCH Analyze customer needs and satisfaction. Analyze current markets and opportunities. Analyze the effectiveness of marketing strategies. Analyze marketing process and tactics currently used. Analyze the reasons for goal achievement or failure. 13-10 The Marketing Environment SCANNING the MARKETING LG4 ENVIRONMENT Environmental Scanning -- The process of identifying factors that affect marketing success. Factors involved in the environmental scan include: - Global factors - Technological factors - Sociocultural factors - Competitive factors - Economic factors 13-11 The Marketing Environment The MARKETING ENVIRONMENT LG4 13-12 The Marketing Environment The ABC’s of MARKETING LG4 Always be customer-focused. Benchmark against the best firms. Continuously improve performance. Develop the best value package. Empower your employees. Focus on relationship building. Goal achievement is the reward. 13-13 Two Different Markets: Consumer and The CONSUMER and B2B LG4 B2B MARKET Consumer Market -- All the individuals or households that want goods and services for personal use and have the resources to buy them. Business-to-Business (B2B) -- Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others. 13-14 The Business-to-Busi ness Market BUSINESS-to-BUSINESS LG6 MARKET (B2B) B2B marketers include: - Manufacturers - Wholesalers and retailers - Hospitals, schools and charities - Government Products are often sold and resold several times before reaching final consumers. 13-15 The Business-to-Busi ness Market B2B MARKET DIFFERENCES LG6 1) There are relatively few customers. 2) Customers tend to be large buyers. 3) Markets are geographically concentrated. 4) Buyers are more rational than emotional. 5) Sales are direct. 6) Promotions focus heavily on personal selling. 13-16 The Consumer Market MARKETING to CONSUMERS LG5 The size and diversity of the consumer market forces marketers to decide which groups they want to serve. Market Segmentation -- Divides the total market into groups with similar characteristics. Target Marketing -- Selecting which segments an organization can serve profitably. 13-17 Segmenting the Consumer Market SEGMENTING the CONSUMER LG5 MARKET Geographic Segmentation -- Dividing the market by cities, counties, states, or regions. Demographic Segmentation -- Dividing the market by age, income, education, and other demographic variables. Psychographic Segmentation -- Dividing the market by group values, attitudes, and interests. (continued) 13-18 Segmenting the Consumer Market SEGMENTING the CONSUMER LG5 MARKET (continued) Benefit Segmentation -- Dividing the market according to product benefits the customer prefers. Volume (Usage) Segmentation -- Dividing the market by the volume of product use. 13-19 Reaching Smaller Market Segments MARKETING to LG5 SMALL SEGMENTS Niche Marketing -- Identifies small but profitable market segments and designs or finds products for them. One-to-One Marketing-- Developing a unique mix of goods and services for each individual consumer. 13-20 Moving Toward Relationship Marketing MASS MARKETING vs. LG5 RELATIONSHIP MARKETING Mass Marketing -- Developing products and promotions to please large groups of people. Relationship Marketing-- Rejects the idea of mass production and focuses toward custom-made goods and services for customers. 13-21