MARKETING

PROCESS ANTICIPATING, IDENTIFYING & SATISFYING CUSTOMER NEEDS & WANTS MUTUALLY BENEFICIAL EXCHANGE 

RESEARCH MARKETING - APPROACH MARKETING BUSINESS AIMS BUILD LONG TERM RELATIONSHP BY PROVIDING 

MARKET ANALYSIS - EXAMINING PARTICULAR CHARACTERSITICS OF MARKET

BUYERS & SELLERS COME TOGETHER

MANAGER MUST UNDERSTAND NATURE

MARKET SIZE - TOTAL VOLUME SALES PERIOD OF TIME

MARKET GROWTH - & CHANGE MARKET SIZE

DIFFERENT / ORIGINAL PRICE X 100

ONLINE

REGIONAL / NATIONAL / INTERNATIONAL 

FINAL CUSTOMER THROUGH INTERMEDIARY 

STRATEGY - E.G. GROWTH - TARGET LEVEL SALES HIGHER MANTAIN SIZE

AMBITIONS - HIGH DEMAND - PUSH BUSINESS FORWARD

EXISTING POSITON - REALISTIC INCREASE

PRODUCTION - CAPACITY 200,000 UNITS CANT HIGHER

FINANCE - PROMOTIONAL ACTIVITY MAKE CUSTOMER AWARE PRODUCT BENEFITS

EMPLOYEES - AFFECT QUALITY DESIGN CUSTOMER SERVICE, RANGE SERVICES PROVIDED

POLITICAL / LEGAL: DETERMINE ALLOWED BY LAW E.G. RESTRICTIONS CIGARETTE PACKAGING

ECONOMIC: AFFECTS AFFORADIBLITY - 2008 RECESSION SWITCH WAITROSE - LIDL GLOBALISATION - GROWTH ECONOMY MIDDLE EAST - NEW MARKETS TARGET

SOCIAL CHANGE: AFFECT WHAT ACCEPTABLE: ETHICS: HOW EMPLOYEES TREATED

COMPETITION: RANGE OF OPTIONS - INTERNET FASTER ALTERNATIVE - REDUCES COSTS / WIDER AUDIANCE GLOBALLY

SMART

SPECIFIC: ACHIEVING SALES X PROVIDES CLARITY - CAN SEE SUCCESS / FAIL

COMMON PURPORSE: ADOPT TEAM APPROACH / UNITED

TIME: IMPROVE EFFICENCY EXAMINING REASON FAILURE & SUCCESS 

REALISITC: SIGNIFICANT EFFORT: EMPLOYEES MOTIVATED SUCCESS IMPROVE PERFORMANCE

DEPARTMENT CLEAR INIDCATION RELATIVE IMPORTANCE ENABLE EMPLOYEES RECOGNISE PRIORITIES

EXTERNAL CHANGE: NOT ALWAYS PREDICTABLE - BASED INCORRECT ASSUMPTIONS - NEW COMPETITOR

INTERNAL CHANGE: FORESEEABLE - E.G. IMPROVE LOYALTY HAMPERED REPUTATION UNRELIABLE OR CUTS ADVERITISING 

UNCLEAR PRIORITIES: EMPLOYEES DECISIONS SUIT THEIR NEEDS NOT BUSINESS

INSUFFIEICENT RESOURCES: TOO SMALL BUDGET

RELUCTANT: MAKE REALISITC OBJECTIVES E.G. -5% REVENUE

TOO AMBITIOUS

OWNERSHIP: IMPOSED EMPLOYEES NOT FEEL OWNERSHIP 

PRIMARY - COLLECTING DATA FIRST HAND SPECIFIC PURPOSE

SECONDARY - SEARCHING DATA ALREADY THERE - ACCESIBLE NOT COLLECTED SAME PURPOSE

EXPERIMENT

OBSERVATION

FOCUS GROUPS

PERSONAL INTERVIEWS

POSTAL SURVEY 

TELEPHONE SURVEY 

INTERVIEW SURVEY

ORGANISATION PARTICULAR APPORACH CERTAIN ARE CERTAIN AMOUNT TIME

SUCCESFUL LONG TERM / NATIONAL BASIS

PRO:

• CHEAP 
• CONSIDER CUSTOMER BEHAVIOUR RATHER QUESTOINNAIRE 

CONS:

• BEHAVIOUR NOT SAME OVER COUNTRY
• DELAY INTO POTENTIALLY SUCCESSFUL STRATEGY

WATCH CUSTOMERS SHOPPING & GATHER INFO REACTION & THOUGH PROCESSES - ENABLE STORE USEFUL DATA

PRO

• DETAIL - SHOW CUSTOMOER THOUGHT
• LAYOUT DISPLAY OBSERVED - REVEAL PROBLEMS E.G. HEIGHT

CONS

• EXPENSIVE - PSYCHOLOGIST NEEDED
• SHOWS WHAT INSTEAD WHY

GROUP CONSUMERS DISCUSS FEELINGS ABOUT MARKET 

PROS

• DETAILED INFO WHY CUSTOMERS REACT 
• UNCOVER NEW IDEAS

CONS

• BIAS - INTEREST WANT PLEASE 
• EXPENISVE COST £400 - £5000

FACE TO FACE

PRO

• WIDE RANGE INFO OBTAINED 
• CAN EXPLAIN UNCERTANTIES

CONS

• TIME CONSUMING
• FALSE ANSWERS - BIAS

CUSTOMER RETURN ENVELOPE

PRO

• CHEAP
• TIME AVALIABLE - MORE DETAIL

CONS

• RESPONSE LOW - 2% NO REWARD
• NOT REPRESENTITIVE

PHONES PUBLIC 

PROS

• CHEAP
• TARGET KNOWN CUSTOMERS

CONS

• DETAIL DIFFICULT - PEOPLE DONT WNAT PHONE
• INCREASE TELE SALES - CUSTOMER RESISTANT NOT ENGAGE

CUSTOMERS EXPRESS VIEWS

PROS

• CHEAP
• UPDATED FREQUANTLY

CONS

• BIASED PEOPLE INTEREST 
• LESS RELEVANT - NOT EVERYONE USES INTERNET

GOVERNMENT PUBLCATIONS: NATIONAL STATISTICS PROVIDES INFO ECONOMIC SOCIAL TRENDS - INVESTIGATE IMPLICATIONS BUSINESS 

NEWSPAPERS: SPECIFIC ATIRCLES SPECIFIC INDUSTRIES

MAGAZINE: THE ECONOMIST PROVIDE DATA FORMS ARTICLES

COMPANY RECORDS: SALES FIGURES PREVIOUS SURVEYS

COMPETITORS: BROCHURES / REPORTS/ INVESTOR INFO

MARKET RESEARCH ORGANISATION: PRODUCE DETAIL SURVEY AVALIABLE BUY 

LOYALTY CARDS: IDENTIFY SPENDING PATTERN

INFO AVALIABLE - QUICK DECISION

CHEAPER PRIMARY 

CONDUCTED REGULARLY INFO HELPFUL TRENDS OVERTIME

UNLIKELY ADVANTAGE COMPETITORS

NOT EXACTLY RELEVANT 

LEVEL ACCURACY QUESTIONABLE 

DEALS "WHY" & "HOW"

USE INFO PLAN STRATEGY

E.G. SKY ATTRACT ADVERTISISERS MORE PEOPLE WATCH SKY

CETAIN WAY - GREATER INSIGHT REQUIRED - MODIFY PRODUCT ACCORDINGLY

HIGHLIGHT ISSUES UNAWARE / OPPPURTUNITIES NOT CONSIDERED

DETAIL INSIGHT CUSTOMER THINKING BUYING - MODIFY HAPPIER

EXPENISVE - SKILLED PERSONAL INTEPRET

HARD COMPARE - UNSTRUCTURED TOO STRUCTUED INHIBIT INDEPENDANCE

"WHO"& "HOW OFTEN"

SELL ADVERITSING SPACE SPONSORSHIP DURING EMMERDALE

SUMMARISE DATA MEANINGFUL E.G. 8/10 PREFER WHISKAS

NUMERICAL DATA EASIER COMPARE RESULTS COMPETITORS 

IDENTIFY TRENDS & PROJECT FUTURE TRENDS 

ONLY SHOW 'WHAT' THAN WHY - LESS UESFUL 

LACK RELIABILITY & VALIDITY & BIAS IF SAMPLE SMALL

ENTAILS REVIEWING BUSINESS PRODUCT PERCIEVED RELATIVE COMPETITORS

CARRIED OUT CUSTOMERS RATE PRODUCTS ON TWO CHARACTERISTCS E.G QUALITY & PRICE

SEE WHERE GAP MARKET

IDEFNTIFY FIRM CLOSEST RIVAL - STRATEGY COMPETE

IDENTIFY GAPS / NICHES FIRM FILL

UNDERSTAND PUBLICS PERCEPTION OF ORGANISATION / BRAND 

RELIABLE?

APPLY EVERYONE?

VIEW PEOPLE TARGET POPULATION - SELECT REPRESENTITIVE GROUP

SHORTENS TIME MONEY SPENT RESEARCH

INCENTIVE COSTS MONEY

NOT REPRESENTITIVE 

HARD LOCATE RESPONDANTS

DEPENDS UPON: HOW PEOPLE / ITEMS SELECTED. HOW CONDUCTED / SAMPLE SIZ

CONFIDENCE INTERVALS

INDICATION CERTAIN RESEARCHERS ARE OF DATA

E..G 97% RELIABLE & REPRESENTITIVE 

MARGIN OF ERROS IS RANGE OF POSSIBLE OUTCOMES

MORE CONFIDENT BROADER RANGE DEPENDS SIZE SAMPLE

QUALIFIED CONCLUSION ABOUT DATA

BETTER UNDERSTANDING REUSLTS

APPARANT RELATIONSHIP BETWEEN 2 FACTORS

HELPS IDENTIFY CORRELATION DIFFERENT FACOTRS

DEMAND PRODUCT ANTICIPATE SALES

TELLS US WHAT NOT WHY

TRACK WHAT HAPPENED SALES PAST ESTIMATE SALES FUTURE

VALID WAY FORECASTING SALES ASSUMNIG CONDITIONS REMAIN CONSTANT

DISRPUTIVE CHANGE - SIGNIFCANTLY ALTERS MARKET CONDITIONS - LIMIT VALUE

SUPERMARKET TRACK BUY LINK TO ADRESS UNDERSTAND CUSTOMER 

MORE DATA DOESNT GUARANTEE SUCESS

RIGHT QUESTIONS & DECISIONS MADE 

BIG DATA MORE FEASIBLE

DIFFICULT ANALYSE PAST IMPORVEMENTS EASIER

CHANGES MARKET: INFO MANAGERS GATHERED OUT DATE / IRELLEVANT NEW BUSINESS

INFO GATHERED: SECONDARY DATE USED - WRONG FORMAT - SAMPLES DONT REFLECT

LACK INFO: KEEN DECISION NOT SPEND MONEY RESEARCH

EXTENT CUSTOMERS PERMISSION BEFORE DATA

ACCEPTABLE FILM CONSUMERS WITHOUT PERMISSION

ACCEPTABLE TRACK PURCHASES 

SETTING MARKET OBJECTIVES - UNDERSTAND:

CUSTOMERS WANT / AFFORD

CONDITIONS MARKET

CAPABILITIES / STRENGTHS BUSINESS RELATIVE COMPETITORS

BEST DELIEVER BENEFITS CUSTOMER WILLING PAY

IMPLEMENT DECISIONS

REVIEWNIG

TARGETS SET MARKETING ACTIVITIES

SPECIFIC TERMS RELATES TO 

MEASURABLE TERMS NUMERICAL TARGET & TIME SPECIFIC

COULD INCLUDE:

SALES VALUE - VALUE SALES MEASURED TERMS HOW MUCH SEPND PRODUCT

SALES VOLUME - VOLUME SLAES MEASURED TERMS NUMBER UNITS SOLD

MANAGERS WANT MEASURE INCREASING

DEPEND FACTORS GROWTH OVERAL MARKETS

GROWING FAST - HIGH SALES TARGET

SLOW - DIFFICULT INCREASE GROWTH

DEPEND ACTUAL LEVEL SALES

STARTING UP EASY - LOW NUMBERS

SALES HIGH START - DIFFICULT GROW

PRODUCT MEASURES AMOUNT SELLS AS % OF TOTAL SALES MARKET

SALES OF PRODUCT / TOTAL MARKET SHARES X 100

HIGH MARKET SHARE

SUGGEST HIGH SALES - POSSIBLE PROFIT

HIGH OUTPUTS = POWER SUPPLIERS - NEGOTIATE BETTER DEALS - REDUCE COST / INCREASE QUALITY

HIGH PROMINENCE - RAISE PROFILE - STRENGTHEN BRAN - LAUNCH EASIER

RETAINING CUSTOMERS IMPORTANT ASPECT

KEEPING CUSTOMER - CHEAPER & EASIER ATRACTING NEW ONES

IMPORTANT MEASURE MANAGERS - TRYING BUILD RELATIONSHIP

VALUABLE SOLD LATER - STRONGER LOYALTY POSSIBLE GAIN MORE SALE