New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Weeks 3 and 4

by: Michaela Fisher

Weeks 3 and 4 24745

Michaela Fisher
View Full Document for 0 Karma

View Full Document


Unlock These Notes for FREE

Enter your email below and we will instantly email you these Notes for Integrated Marketing

(Limited time offer)

Unlock Notes

Already have a StudySoup account? Login here

Unlock FREE Class Notes

Enter your email below to receive Integrated Marketing notes

Everyone needs better class notes. Enter your email and we will send you notes for this class for free.

Unlock FREE notes

About this Document

Marketing Management Chapters 4-7
Integrated Marketing
Monique Carswell
Class Notes




Popular in Integrated Marketing

Popular in SPS

This 11 page Class Notes was uploaded by Michaela Fisher on Sunday October 9, 2016. The Class Notes belongs to 24745 at NYU School of Professional Studies taught by Monique Carswell in Fall 2016. Since its upload, it has received 23 views. For similar materials see Integrated Marketing in SPS at NYU School of Professional Studies.

Similar to 24745 at NYU School of Professional Studies


Reviews for Weeks 3 and 4


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 10/09/16
Chapters 4-7 Sunday, September 18, 2016 12:30 PM Chapter 4: Collecting information and Forecasting Demand Marketing Information System  Consists of people, equipment, and procedures to gather, sort, analyze, evaluate and distribute needed, timely and accurate information to marketing decision makers. o Internal company records o Marketing intelligence activities o Marketing research Internal records  Reports of orders  Sales  Costs  Inventory levels  Costs  Inventory levels  Receivables  Payables Databases, Data warehousing and data mining (Big Data) Marketing Intelligence system: a set of procedures and sources that manager use to obtain everyday info about developments in the marketing environment Improving marketing intelligence  Train and motivate the sales force to spot and report new developments  Motivate distributors, retailers and the other intermediaries to pass along important intel.  Hire external experts to collect intelligence  Network internally and externally  Set up a customer advisory panel  Take advantage of government-related data resources  Purchase info from outside research firms and vendors Marketing intel on the internet  Independent customer goods and service review forums  Distributor or sales agent feedback sites  Combo sites offering customer reviews and expert opinions  Customer complaint sites  Public blogs Communicating & Acting on Marketing intel  The competitive intelligence function works best when it is closely coordinated with the decision-making process (Given the speed of the internet, it is important to act quickly on the info gleaned online Identifying the major forces  Six major forces In the broad environment Demographic  Pop. Growth  Pop. Age mix  Ethnic and other markets  Educational groups  Household patterns Economical  Consumer Psychology  Income Distribution  Income, Savings, Debt, Credit Sociocultural  Views of all  Core cultural values  subcultures Natural  Corporate environmentalism Technological  Accelerating pace of change  Unlimited opportunities for innovation  Varying R&D budgets  Increased regulation of technological change Political-legal  Laws  Government agencies  Pressure groups Forecasting and Demand Measurement  Market demand measures o Potential Market o Available market o Target market o Penetrated market Demand Measurement Market demand is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.  Market share  Market penetration index  Share-penetration index Market forecast -> corresponding market demand Market potential -> the limit approached by market demand as industry as marketing expenditures approach infinity for a give marketing environment Company Demand -> the company's estimated share of the market demand Company sales forecast -> the expected level of company sales bases on a chosen marketing plan.  Sales budget Company Sales potential -> the sales limit approached by the company demand as marketing effort increases. Estimating Current Demand  Total market potential  Area market potential o Market-build up method o Multiple-factor index method  Industry shares and market shares. Estimating Future Demand  Survey of buyers' intention o Forecasting (purchase probability scale)  Composite of sales force opinions  Expert opinion  Past-sales analysis  Market-test method Chapter 5: Conducting Marketing Research The scope of Marketing Research Market research; the function that links the consumer, customer and public to the marketer through information. Importance of marketing insights Marketing Insight provides diagnostic info about how and why we observe certain effects in the marketplace and what that means to marketers. Good marketing insights form the basis of successful marketing programs. Who does marketing research? Most large corporations have their own marketing research departments. Plays a crucial role in the organization Creative market research in smaller companies: 1 Engaging students or professors to design and carry out projects a Crowdcasting 1 Using the internet 2 Checking out rivals 3 Tap into marketing partner exercise 4 Tap into employee creativity and widom Market Research Firms Syndicated-service Consumer and trade info research firms Custom marketing Hired to carry out specific projects research firms Specialty-line marketing Sells field interviewing to firm, research firms specialized research services The marketing research process Step 1: Define the problem, the decision alternatives and the research objectives Step 2: Develop the research plan  Data sources: Primary data, fresh data gathered for project. Secondary data, data collected for another purpose or project.  Research approaches o Observational o Ethnographic o Focus Group o Survey Research o Behavioral o Experimental  Research Instruments o Questionnaires o Qualitative (consumer opinion)  Word association  Projective techniques  Visualization  Brand personification  Laddering o Technological devices o Sampling Plan  Sampling Unit: Who do we survey?  Sample size: How many?  Sample Procedure: How do we choose the group? o Contact methods  Mail  Phone  Personal contacts  Online contacts  Inexpensive  Expansive  Fast  Versatile  Honest and thoughtfulcustomer response Step 3: Collect the info Step 4: Analyze the info Step 5: Present the Findings Step 6: Make the Decision Measuring Marketing Productivity Seven characteristics of good marketing research Scientific Method Careful observation, formulation of hypotheses, prediction and testing Research Established a creative way to reach customers (ex. Creativity Chester Cheetah costume, Cheetos) Multiple Methods Marketers cannot simply over-rely on any one method. They see the value of using two/three methods to increase confidence in the results Interdependence Recognizes that data us interpreted from underlying of models and models that guide the type of information sought data Value and Cost of Showing concern for estimating the value of information info vs. its cost (research not free, is it worth it?) Healthy Toward glib assumptions made by managers about how Skepticism the market works (marketing myths) Ethical Marketing Misuse of marketing research could potentially harm and annoy customer, increase resentment at what consumers regard as an invasion of privacy or a disguised sales pitch. Keys to measuring market productivity are (1) marketing metrics to assess marketing effects and (2) marketing mix model to estimate the casual relationship and measure how marketing activity affects outcomes. Marketing dashboards are used to disseminate the insights of these two approaches. Marketing Metrics  Set of measures that helps marketers quantify, compare and interpret their performance Marketing-mix Model  Analyzes data from a variety of sources to understand precisely the effects of specific marketing activities. o Retailer scanner data o Company shipment data o Pricing o Media o Promotion spending data Marketing dashboards  A concise set of interconnected performances drivers to be viewed in common throughout the org. o Customer performance scorecard o Stakeholder-performance scorecard Chapter 6: Analyzing Consumer Markets What influences consumer behavior? Consumer Behavior -> the study of how individuals, groups and organizations select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants.  Influenced by cultural, social and personal factors. Cultural Factors  Culture  Sub-cultures  Social Classes Social Factors  Reference groups o Membership group (primary vs. secondary) o Aspirational group o Dissociative group o Opinion leader  Cliques  Family  Role and status Personal Factors  Age and stage in the life cycle  Occupation and economic circumstances  Personality and self-concept  Lifestyle and values Key Psychological processes - a set of psychological processes combine with certain consumer characteristics to result in decision processes and purchase decisions.  Motivation (need with an intensity to drive us to act) o Freud's theory - guided by subconscious motivation o Maslow's Hierarchy of Needs - driven by the lowest, unmet need o Herzberg's Two Factor - driven by dissatisfiers and satisfiers  Perception o Selective attention o Selective Distortion o Selective Retention o Subliminal Perception  Learning  Emotions o Many emotions linked to brands  Memory Consumer Buying Decision Process: The 5 Stage Model 1 Problem Recognition 2 Information Search a Sources (Personal, Commercial, Public, Experimental) b Search Dynamics (Total set, awareness set, consideration set, choice set, final decision) 2 Evaluation of Alternatives a Beliefs and attitudes b Expectancy-Value Model (positive to negative according to importance) 2 Purchase Decision 3 Post-Purchase Behavior a Satisfaction b Actions c Uses and Disposal Types of perceived Risks Functional Physical Financial Social Psychological Time Moderating effects on Consumer Decision Making  Low involvement consumer decision making (product people overlook) o Link product to interesting issue o Link to personal situation o Design advertising that will trigger strong emotion o Add a feature  Variety seeking Buying Behavior (consumers looking for something new, Brand Switching) o Encourage habitual buying by dominating the shelves. o Avoid out of stock conditions o Sponsor frequent reminder Ads Behavioral Decision Theory and Behavioral Economics Sometimes the road to a consumer decision is not deliberate and rational sometimes due to the following factors: Decision Heuristics  Availability  Representativeness  Anchoring and Adjustment Framing  Mental Accounting  Prospect theory Chapter 7: Analyzing Business Markets Organizational Buying: the decision making process by which formal orgs establish the need for purchased products and services used in the production of the other products or services that are sold, rented or supplied to others. Business Market vs Consumer Market Business market-> organizations the buy goods and services used in the production of other products or services that are sold, rented, or supplied to others. (any firm that supplies components are in the business to business marketplace) Business to Business marketing 1 Building strong interfaces between marketing and sales 2 Engaging more deeply with customers and customers' customers 3 Extracting and leveraging more granular customer and market knowledge B-2-B marketplace  Fewer, larger buyers  Close supplier-customer relationships  Professional purchasing  Multiple buying influences  Multiple sales calls  Derived demand  Inelastic demand  Fluctuating demand  Geographically concentrated buyers  Direct purchasing Buying situations How B-2-B consumers make decisions  Straight rebuy  Modified rebuy  New task Participants on the Business Buying Process The Buying Center usually includes people with Different interests to serve both the customers and the organization. Members 1 Initiators 2 Users 3 Influencers 4 Deciders 5 Approvers 6 Buyers 7 gatekeepers Targeting Firms and Buying Centers Knowing what type of companies to target  Who are the major decision participants?  What decisions do they make to their decisions? How influential?  Targeting Firms (who to sell products to)  Targeting within the business center (how best to sell products) Purchasing/Procurement Process  Assessing the perceived benefits and costs , best bang for your buck. Stages in the Buying Process (Buyphases, Patrick Robinson)  Problem Recognition  General need description and Product Specification  Supplier search o e-procurement o Lead generation  Catalog  Vertical markets  Auction  Barter  Proposal Solicitation (RFP's, Request for Proposals)  Supplier Selection o Overcoming price pressures o Number of Suppliers  Order Routine Specification  Performance review Developing Effective Business to Business marketing programs  Communication and branding activities  Systems Buying and Selling  Role of Services Managing B2B Customer relationships  Vertical Coordination  Types of B2B Relationships o Basic Buying and Selling o Bare Bones o Contractual Transaction o Customer Supply o Cooperative Systems o Collaborative o Mutually adaptive o Customer is King  Risk and Opportunism in Business Relationships Institutional Market: School, Hospitals, Nursing Homes, Prisons provides goods and services to people in their care. Government Markets: require suppliers to submit bids and award to the lowest bidder, buyers have to do a lot of paperwork and these markets have special needs and procedures.


Buy Material

Are you sure you want to buy this material for

0 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Amaris Trozzo George Washington University

"I made $350 in just two days after posting my first study guide."

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.