The Philippine Market Environment and Marketing Information & Market Research

• The Philippine Market Environment

• Managing Information and Market Research

(GROUP 2)Amagan, CharnelAsedillo, Sharlyn JoyBelmonte, Sophia AllianaBersabe, John PhillipBodestyne, Jenica JoyBurro, Joanna Mae

THE PHILIPPINE MARKET

ENVIRONMENT

WHAT IS MARKET?

Market

Place

Economics

Marketing

As a PLACE…..

A public place where goods and services are offered for sale.

A public gathering held for buying and selling merchandise.

A store or shop that sells a particular type of merchandise.

WHAT IS MARKET?

In ECONOMICS…..

A market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange.

WHAT IS MARKET?

In MARKETING.....

In marketing, the term market refers to the group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product.

WHAT IS MARKET?

MARKET DEFINITION CONCEPTUAL DIAGRAM

FUNCTIONS OF MARKETING


FUNCTIONS OF

MARKETING

Research

Buying

Product Development

and Management

Production

Promotion

Standardization and GradingPricing

Distribution

Risk-bearing

Financing

After-sales

Service


RESEARCH FUNCTIONEnables you to generate adequate information regarding

your particular market of target.

BUYING FUNCTIONThe function of buying is performed in order to acquire

quality materials for production.


PRODUCTION FUNCTIONPerforms by the production department and is

interrelated to the marketing department.

PRODUCT DEVELOPMENT & MANAGEMENT

It is an essential function of marketing since it was the duties of the marketing department to identify what the market need or want and then design effective product based on the identified need and want of the market.

FUNCTIONS OF MARKETINGPROMOTION FUNCTION

One of the core functions of marketing, since your finish product must not remain in the place of production, hence, you as a marketer must design effective communication strategies to informing the availability of your product to your target market.

STANDARDIZATION & GRADINGThe function of standardization is to established

specified characteristics that your product must conform to.Grading comes in when you sort or classify your

product into different sizes or quantities.

FUNCTIONS OF MARKETINGPRICING FUNCTION

Designing effective pricing system based on your product stage and performance in the product life cycle.

DISTRIBUTION FUNCTIONEnsure that your product is easily and effectively

moved from the point of production to the target market.

RISK BEARING FUNCTIONProvide effective packaging system to support your

product, good warehouse for the storage of your product until they are needed, effective transportation system to speedily deliver your product on time.


FINANCING FUNCTIONDeals with the part of marketing to providing incomes

for your business.

AFTER SALES SERVICEMake provision in order to assist your customers after

they have purchased your product.

MACROENVIRONMENT

MACROENVIRONMENT

Major external and uncontrollable factors that influence an organization’s decision making, and affects its performance and strategies.

Totality of national and international institutional forces acting upon societies and organizations; dynamic of environmental interaction on a global scale.

Universe of sociological elements that affect a company’s ability to serve its customers or sell its goods and services.

MACROENVIRONMENT

MICROENVIRONMENT

MICROENVIRONMENT

Factors or elements in an organization’s immediate area of operations that affect its performance and decision-making freedom.

Nearby factors that affect a company’s ability to serve its customers, such as the company itself, suppliers, marketing intermediaries, customer markets and the public.

Factors close to a business that has a direct impact on its business operations and success.

MICROENVIRONMENT

MICRO ENVIRONMENT

Employees

Suppliers

Media

Partners or

Investors

Competitors

Customers

MICROENVIRONMENT

EMPLOYEESEmployees exert an influence on your small business’

quality, operations and profitability through their activities.

SUPPLIERSYour suppliers provide products or services you need to

add value to your own products or services.

MEDIAMedia can mean printed, televised or online media.

MICROENVIRONMENT

PARTNERS OR INVESTORSOne way you can improve your financial position is

through selling a partial interest of your company to outsiders. Both shareholders and equity partners are stakeholders in your business.

COMPETITORSYour competitors affect your business’ profit by trying

to take business away from you, just as you try to take away their business.

MICROENVIRONMENT

CUSTOMERSThe least controllable of the microenvironments

affecting your business is the one where customers live.

MACROENVIRONMENT vs MICROENVIRONMENT

MANAGING INFORMATION AND

MARKETING RESEARCH

MARKETING INFORMATION SYSTEMS


MkIS in short, are designed specifically for managing the marketing aspects of the business.

Intended to bring together disparate items of data into a coherent body of information.

A system in which marketing data is formally gathered, stored, analyzed and distributed to managers in accordance with their informational needs on a regular basis. (Jobber, 2007)

People, equipment and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. (Kotler, et al. 2006)



FEATURES OF MARKETING INFORMATION SYSTEM (MkIS)

1. Continuous system2. Basic objective3. Computer-based system4. Future-oriented5. Used by all levels6. Collects marketing information7. Helps in decision making

ASSESSING MARKETING

INFORMATION NEEDS

ASSESSING MARKETING INFORMATION NEEDS

The marketing information system primarily serves the company’s marketing and other managers. However, it may provide information to external partners, such as suppliers, resellers or marketing service agents.

A good marketing information system balances the information users would like to have against what they really need and what is feasible to offer.

The cost of obtaining, processing, storing and delivering information can mount quickly.

DEVELOPING MARKETING

INFORMATION

DEVELOPING MARKETING INFORMATION

Marketers can obtain the needed information from:

Internal data

Marketing intelligence

Marketing research


INTERNAL DATAMany companies build extensive internal databases,

electronic collections of information obtained from data sources within the company.

MARKETING INTELLIGENCEA systematic collection and analysis of publicly

available information about competitors and developments in the marketing environment.


MARKETING RESEARCHThe systematic design, collection, analysis and

reporting of data relevant to a specific marketing situation facing an organization.

MARKETING INTELLIGENCE


Is the everyday information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy and market development metrics.

It determines the intelligence needed, collects it by searching environment and delivers it to marketing managers who need it.

It can be the name of the department that performs both the market intelligence and competitor analysis roles.


Steps to be taken by a company to improve its marketing intelligence

TRAIN AND MOTIVATE SALES FORCEA company’s sales force can be an excellent source of

information about the current trends in the market.


MOTIVATE DISTRIBUTORS, RETAILERS AND OTHER INTERMEDIARIES TO PASS ALONG IMPORTANT INTELLIGENCE

Specialists are hired by companies to gather marketing intelligence.

NETWORK EXTERNALLYEvery firm must keep a tab on its competitors.


SET UP A CUSTOMER ADVISORY PANELCompanies can set up panels consisting of customers.

OPTIMAL USAGE OF GOVERNMENT DATA RESOURCES

Governments of almost all countries publish reports regarding the population trends, demographic characteristics, agricultural production and a lot of other such data.


INFORMATION BOUGHT FROM EXTERNAL SUPPLIERS

Certain agencies sell data that can be useful to other companies.

COLLECT COMPETITIVE INTELLIGENCE THROUGH ONLINE CUSTOMER FEEDBACK

Customer’s view about a product is most essential for any company.

MARKETING RESEARCH

MARKETING RESEARCH

The process or set of processes that links the consumers, customers and end users to the marketer through information---- information used to identify and define marketing opportunities and problems.

The Marketing Research Processes

1. Define the problem.2. Determine research design.3. Identify data types and sources.4. Design data collection forms and questionnaires.5. Determine sample plan and size.6. Collect the data.7. Analyze and interpret the data.8. Prepare the research report.

The Marketing Research ProcessesPROBLEM DEFINITION

The decision problem faced by management must be translated into a market research problem in the form of questions that define the information that is required to make the decision and how this information can be obtained.

RESEARCH DESIGNMarketing research can be classified in one of three

categories:• Exploratory research• Descriptive research• Casual research

The Marketing Research ProcessesDATA TYPES & SORUCES• SECONDARY DATA

Secondary data may be internal to the firm such as published data or commercially available data.

• PRIMARY DATAPrimary data can be obtained by communication or observation.

QUESTIONNAIRE DESIGNThe questionnaire is an important tool for gathering

primary data.


SAMPLING PLANThe sampling frame is the pool from which the

interviewees are chosen.

DATA COLLECTIONIn addition to the intrinsic sampling error, the actual

data collection process will introduce additional errors.

DATA ANALYSISBefore analysis can be performed, raw data must be

transformed into the right format.

The Marketing Research ProcessesMARKETING RESEARCH REPORT

The format of the marketing research report varies with the need of the organization. The report often contains the following sections: Authorization letter for the research Table of contents List of illustrations Executive summary Research objectives

Methodology Results

Limitations Conclusions and recommendations

Appendices containing copies of questionnaires, etc.


CONCLUDING THOUGHTSMarketing research by itself does not arrive at

marketing decisions, nor does it guarantee the organization will be successful in marketing its products.

THANK YOU!!!