Marketing practices

The marketing and sales departments are the eyes and ears of the company in the marketplace. They are part of the market intelligence system that keeps company officials informed about the rapidly changing conditions in the micro and macro environment. The gathering of this information is usually casual, depending on the individual’s own interest. This may consist of market gossip, newspaper and trade reports, clues from the field force and information from outside sources. The information is often random and sketchy. The company may learn too late about a dealer’s need or a customer’s changing aspirations or a competitor’s aggressive move, to respond effectively. Stars are able to excel due to their practice of the following: • Training sales staff in the process and systems of collecting information • Using the internet, media and contacts to gather all available information • Buying information from specialized market research companies