Page 108 - DMGT547_INTERNATIONAL_MARKETING

Unit 5: International Market Research

Databases, Data Warehouses and Data-mining Notes

Today companies organise their information in databases – customer databases, product databases,
salesperson databases and so forth – and then combine data from the different databases. For
example, the customer database will contain every customer’s name, address, past transactions,
and even demographics and psychographics (activities, interests, and opinions) in some instances.
Instead of a company sending a mass “carpet bombing” mailing of a new offer to every customer
in its database, it will score the different customers according to their purchase regency, frequency,
and monetary value. It will send the offer only to the highest scoring customers. Besides saving
on mailing expenses, this will often achieve a double-digit response rate.

The Marketing Intelligence System

Whereas the internal records system supplies results data, the marketing intelligence system
supplies happenings data. A marketing intelligence system is a set of procedures and sources
used by managers to obtain everyday information about developments in the marketing
environment. Marketing managers collect marketing intelligence by reading books, newspapers,
and trade publications; talking to customers, suppliers and distributors; and meeting with other
company managers. A company can take several steps to improve the quality of its marketing
intelligence.
First, it can train and motivate the sales force to spot and report new developments. Sales
representatives are positioned to pick up information missed by other means. Second, the
company can motivate distributors, retailers, and other intermediaries to pass on important
knowledge about products in stock.

Task Prepare a report on the problems face by researchers in conducting international
marketing research.

Self Assessment

Fill in the blanks:

15. The central point of the internal records system is the ………………..
16. .......................are the set of procedures and sources used by the marketers to get information
about the changing marketing environment.

Case Study Extension Impasse

rishnan Ranganathan, the vice-president incharge of sales and marketing at Angar
Ltd. (Angar), walked into his cabin in the morning and buzzed his secretary at
Kone. “Have Tahamane and Paranjpe arrived”? He asked. “They have, sir,” replied
Anita. “Shall I ask them to come in?” “Yes. Please call Malhotra at Product Pulse and
confirm our 11.30 appointments. Thanks,” said Ranganathan, pulling out of his top drawer
the market research firm’s spiral-bound report that had arrived on his desk two days
earlier. Removing his glasses, he rubbed his deep-set eyes. “Shah may have been right
after all,” he mumbled to himself.
Contd...

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