Capturing Marketing Insights W. Rofianto Marketing Information System A MIS consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. Internal Records Marketing Intelligence A marketing intelligence system is a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment. Sources of Competitive Information • • • • • Independent customer goods and service review forums Distributor or sales agent feedback sites Combination sites offering customer reviews and expert opinions Customer complaint sites Public blogs Steps to Quality Marketing Intelligence • • • • • • • Train sales force to scan for new developments Motivate channel members to share intelligence Hire external experts to collect intelligence Network externally Utilize a customer advisory panel Utilize government data sources Purchase information Estimating Future Demand • Survey of Buyers’ Intentions • Composite of Sales Force Opinions • Expert Opinion • Past-Sales Analysis • Market-Test Method Marketing Research The American Marketing Association (AMA) redefined Marketing Research as: The function that links the consumer, the customer, and public to the marketer through Information Types of Research Research Design Conclusive Research Design Exploratory Research Design Descriptive Research Cross-Sectional Design Causal Research Longitudinal Design Marketing Metrics External Internal • Awareness • Awareness of goals • Market share • Commitment to goals • Relative price • Active support • Number of complaints • Resource adequacy • Customer satisfaction • Desire to learn • Distribution • Willingness to change • Total number of customers • Freedom to fail • Loyalty • Autonomy Marketing metrics are the set of measures that helps marketers quantify, compare, and interpret marketing performance. Sample Customer-Performance Measures • • • • • • • % of new customers to average # % of lost customers to average # % of win-back customers to average # % of customers in various levels of satisfaction % of customers who would repurchase % of target market members with brand recall % of customers who say brand is most preferred rofianto@gmail.com