• 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
FUNCTIONS OF
MARKETING
Research
Buying
Product Development
and Management
Production
Promotion
Standardization and GradingPricing
Distribution
Risk-bearing
Financing
After-sales
Service
FUNCTIONS OF MARKETING
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.
FUNCTIONS OF MARKETING
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.
FUNCTIONS OF MARKETING
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
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)
MARKETING INFORMATION SYSTEMS
MARKETING INFORMATION SYSTEMS
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
DEVELOPING MARKETING INFORMATION
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.
DEVELOPING MARKETING INFORMATION
MARKETING RESEARCHThe systematic design, collection, analysis and
reporting of data relevant to a specific marketing situation facing an organization.
MARKETING INTELLIGENCE
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.
MARKETING INTELLIGENCE
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.
Steps to be taken by a company to improve its marketing intelligence
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.
Steps to be taken by a company to improve its marketing intelligence
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.
Steps to be taken by a company to improve its marketing intelligence
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.
The Marketing Research Processes
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.
The Marketing Research Processes
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!!!