Skip to main content

The Krauskopf Memorial Library will be closed until further notice. Please contact via email for additional assistance. Additional information here

GB 6040 - Marketing Management (Babik)

Overview of Prof. Babik's Marketing Management course.

Try Using Intellect

Intellect ​ can help in examining industries and companies. You might want to view a company's/industry's finances, what challenges they are facing, critical issues that are present, or key trends. Great for SWOT analysis.

1. Click on ​Intellect, below.

​2. Making sure "Company" is selected, use the search bar in the middle of the screen to find your company. Suggestions will appear as you begin to type. Hit enter.

3. Numerous records might show up. Locate the company for which you're searching and click on it.

4. Now you can see the company details.

*Some tabs might not be available, such as "Financial Details," "Executive Details," or "Family Tree." This is especially true for small, private companies (like Sara Lee​, the food company). Companies do not have to include all of this information. 

*To learn about the industry of which your company is a part of, click the tab "Industry Details," and then click on a "first Research Industry Report." 

​Image from: http://www.nclive.org/sites/default/files/mergent_intellect_logo.jpg  

Example:

Here is an example from Inc.com:

An interior design company could choose to market to homeowners between the ages of 35-65 with incomes of $150,000+ in the Baton Rouge, Louisiana, market.

To define the market even further, the company could choose to target only those interested in kitchen and bath remodeling and traditional styles.

This market could be broken down into two niches: parents on the go and retiring baby boomers.

Marketing Plan Template

Be sure to read about plan concepts again in Kotler & Keller. The following is a condensed list of Contents of a Marketing Plan. If you are developing any Marketing Plan, it should be aligned with the Company’s Strategic Business Plan, including its vision, mission, goals, objectives and strategies.

Before writing the Marketing Plan, the Marketing Manager will prepare by completing the following analysis and research steps (these points will be used as you develop the plan, so I don’t need to see this outline alongside the actual Plan):

  1. If start-up, develop product or service concept realistically; if existing product, clearly identify the need.
  2. Conduct a Situation Analysis (This information will be used in a SWOT Analysis and DIagram in your plan)
  1. Macro environmental Forces
  2. Competitive Environment
  3. Internal Environment

Learning Customer Needs

RefUSA can help you learn about the consumers and their lifestyles. Follow these steps to get a better understanding as to how to search:

1. Click on ​RefUSA​, below.

2. Select the database: "U.S. Consumers / Lifestyles."

3. Select "Advanced Search" on the next screen.

4. Now, conduct a consumer search using the tools on the left-side bar. Select whatever you'd like to refine your search. This will allow you to learn more about the population and demographics of an area to understand the customer needs and wants.

Image from: https://www.ebscohost.com/prod-mastheads/ReferenceUSA_Masthead_Web.png

Examining Psychographic Factors

Psychographics are things more commonly referred to as "culture." Popular psychographic groups would include Baby Boomers or Millenials. Psychographics data is helpful to develop a clearer profile of your consumer.

  • attitude
  • behavior
  • interests/hobbies
  • lifestyle
  • personality
  • values

What This Means

Getting specific about your target market allows you to decide how you want to focus your marketing efforts. It does not exclude potential customers. In order to define your target market, you want to consider demographic and psycho-graphic factors.

With this in mind, try to narrow down which potential consumers would be most interested in your product or service.

Choosing Demographics to Target

Demographics are facts about certain groups. This data is useful to develop a basic profile of your consumer.

  • age
  • ethnicity
  • education level
  • gender
  • income
  • location
  • marital/family status
  • occupation