MARKETING MANAGEMENT

Marketing Management

Marketing Management

1. What are the various steps a company can take to improve the quality of its marketing intelligence function?

Marketing Intelligence is defined as those credible sources, surveillance and speculative technique, which tend to yield valuable information to managers, researchers and forecasters involved in highlighting the trends involved in the realm of marketing known to us today. The code of marketing intelligence comprises of a defined set of iteratively practiced tools, techniques, methods and methodologies that need to be undertaken in order to decipher daily developments and progress that has been made by the marketing industry. To begin with the description, there are almost several factors and parameters which managers use to grab, gain and obtain maximum, valuable information for their own and their product's benefit (Abernathy, 1990).

A number of avenues that have been utilized and undertaken include newspapers, magazines, financial statements (balance sheet, income statement, cash flows, profit and loss, etc.), press conferences held by company managers, regional heads and directors involved towards the marketing and promotion of their own campaign, market prices, ancillary market, economic and financial data, questionnaire and surveys, direct observations, directly questioning different current and potential customers and clients regarding the current attempts made, talking to vendors, associates, suppliers and distributors. In addition to all the above, people involved in the area of market intelligence tend to screen online user interfaces such as blogs, notes, updates on corporate websites, online discussion groups, emailing lists and many other avenues that would help these managers gain maximum benefit at the minimalist of costs. Although each one of them has a separate benefit and a disadvantage, there are certain measure of quality that need to be undertaken for gaining valuable notes and data regarding all marketing activities occurring in the environment. One major issue that tends to stem in this context is that of ethics; something that is being done legally even may not be ethical, since at majority of occasions, individuals tend to cut down on one another in the face of cut-throat competition. Certain measures that could be undertaken include: (Abernathy, 1996).

1.Training current and freshmen marketers to hunt down, identify, screen and spot new and novel developments in the environment and surrounding of marketing; (Abernathy, 1996)

2.Motivate all stakeholders to involve jointly as a team to bring in the best and most valuable piece of work that has been done;

3.Keeping a strong a close contact with the people residing and functioning in the external atmosphere;

4.Creating an advisory panel of judge, who shall inspect and question each one involved in the process of market intelligence in order to highlight the most important asset to the company; and the most important

5.Developing and establishing online portals and forms of blogs, opinions and suggestions emailed at different websites and user interfaces that would help us understand and comprehend exactly what goes on in the mind of the customer.

2. Identify the five factors affecting partner interdependency and environmental uncertainty that influence the development of a relationship between business ...