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Module: Strategic MarketingInstructor: Bilal Ahmad

LECTURE: Capabilities for Learning about Customer and

Markets

Introduction

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• Market-driven strategy, market sensing and

learning processes

• Marketing information and knowledge

resources

• Marketing intelligence and knowledge

management

• Ethical issues in collecting and using

information

Learning outcomes

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• Open-minded inquiry processes

• Analyzing competitors’ actions

• Listening to front-line employees

• Searching for latent (Un-served) customer

needs

• Scanning the peripherary (new opportunity) of

the market

• Encouraging experimentation

Market sensing processes

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• Objective Inquiry

• Synergistic Information Distribution

• Mutually Informed Interpretations

• Accessible memory

Learning About Markets

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• Managers reject new insights/information

• Rigid organizational structures and

inflexible information systems

• Politics favour the status quo

• Pressure of existing business operations

Barriers to market learning

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• Strategy ; treats customers as individual, develops

solutions for needs and engages employees to

serve them

• New ideas from listening more closely to customers

and employees

• Knowledge shared with manufacturers and product

developers

• Core innovation competency is gathering and

synthesizing customer intelligence

Best Buy’s customer knowledge strategy

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• Scanning processes

• Specific marketing research studies

• Internal and external marketing information

resources– Relationships with external marketing research

providers.

Marketing information and knowledge resources

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A Framework for Market Sensing

Probability of the Event Occurring

Effect of the Event on the Company

High LowMedium

1

2

3

4

5

6

7

*

1=Disaster, 2=Very bad, 3=Bad, 4=Neutral, 5=Good, 6=Very good, 7=Ideal

Utopia Field ofDreams

Things toWatch

Danger FutureRisks

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• Defining the problem

• Understanding the limitations of the

research

• Quality of the research

• Costs

• Evaluating and selecting suppliers

• Research methods

Marketing research project

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•

Problem definition to guide marketing research studies

ResearchProject and Scope

ResearchObjectives

ResearchQuestions

PlannedOutcomes

Describe the topicfor the study andthe background.

Set specific goals forthe study - why is itbeing undertaken?

Identify the specificpieces of informationrequired and thequestions that needto be asked to obtainthat informationWhen completed howshould the results bepresented for managementuse?

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• Marketing information systems

• Management information systems

• Marketing decision support systems

Marketing and management information systems

Database

AnalysisCapabilities

Display

Models

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• Marketing intelligence

• Knowledge management

• Role of the chief knowledge officer

• Leveraging customer knowledge

Marketing intelligence and knowledge management

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• Invasion of customer privacy

• Information and ethics– Information collection

– Research subjects

– Information sharing

Ethical issues in collecting and using information

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• Anticipating the future

– Boundaries and composition of Product market

– End-user customer base

– Market and industry transformation

– Potential threats

– Value chain composition and structure

– Product life cycle phase?

Strategic vision about future