Medium Sized Company, Sportzshoo Plc Makes a Essay

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medium sized company, Sportzshoo plc makes a range shoes sports. The company founded privately owned Steve Scott, entrepreneur Olympic gold medalist.

Marketing information

Types of marketing information needed by Sportzshoo

There are various types of marketing information that Sportzshoo PLC will need in order to succeed. It is important for the company to understand the procedures that are needed to gather, sort, evaluate, analyze and distribute the marketing information in order to ensure that marketers have accurate and timely information for their decision making. There are three major types of marketing information that the company needs in order to succeed. These are recurrent information, monitoring information and research or requested information Shepherd, Food, & Agriculture Organization of the United Nations, 1997()

Recurrent information

This refers to information that is collected on a regular basis regarding the performance of the organization such as market share, sales volumes, product awareness, brand awareness, and consumer feedback. Others may include margin reports, purchase reports, customer service expense reports and costing analyses. These are usually routine data that the company collects in order to keep track of the trends and may be collected weekly, monthly or yearly depending on the organization. This is also referred to as internal company information since it analyses the strengths, weaknesses and capability of the organization to grow and expand.

Monitoring information

This is data that is collected at a particular time from an identified source.

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It helps in regular scanning of the organization, its competitors and the industry in general. Generally, these are market and competitor analyses. This helps the organization to be aware of industry trends and to identify potential problems that may be coming up. These may also be referred to as marketing intelligence. It gives the marketing officers a general view of the business environment. This includes the overall demand in the market, market potential, competitors and their strategies. These are often gathered from internal sources such as consumers, distributors and suppliers and they help the marketers to understand the day-to-day happenings in the organization and the market in general.

Research or requested information

This is also referred to as market research. It may be primary data that is often collected through surveys or research in response to a particular request made by the organization. This may also be secondary information if the marketing department uses information collected by a research organization in response to their request for this data. It helps to evaluate the anticipated or expected trends against the actual market trends Ferrell & Hartline, 2010.

They are usually expensive to collect but when the survey is well developed, they are completely worth it. They also help to predict how the market responds to changes in the marketing plan and to gather knowledge on how to proceed......

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