Ill Internal Records and Marketing Intelligence

Marketing managers rely on internal reports on orders, sales, prices, casts, inventory levels, receivables, payables, find so on, ^analyzing tliis information, they can spot important opportunities and problems.

The Order-to-Payment Cycle

Thi heart of tile iniertsal records system is the order-m-payment cycle. Sales représentâmes* dealers, and customers send orders to the firm. The sales department prepares invoices and transmits copies to various departments. Out-of-stock items are back ordered, Shi:*]Items are iiccoinpanied by shipping ami frilling documents that are sent to various departments.

Today's companies need (o perform these steps quickly and accurately. Customers favor [Iritis th;it cart promise timely delivery. Customers and sales representatives fax or e-mail their orders. Computerized warehouses tjuickly fill these orders. The Lilting department spends out invoices as quickly as possible. An increasing number of tympanies [ire using, (he Internet and extriiitets to improve the speed, accuracy,, and efficiency of the order- to-pay ment cycle.

Sales Information Systems

Marketing managers tieed timely ami accurate reports on current Sales. Wal-Mart, for miqple, knows the sales of each product by store and total each evening. This enables it to transmit nightly orders to suppliers for new shipments of replacement stock. Wal-Mart shares its sales data with ils larger'suppliers such as P&G and expects i'SiCî to re-supply Wal-Mart stores in a timely manner. Wal-Mart litis entrusted P&G with the man peinent of its Inventory*

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Capturing marketing insights

Companies inn si carefully interpret the sales data so as not 10 get (lit wrong sign ills. Michael Dell gave this illustration: "Tfyott have three yellow- Mus tangs sitting on a dealer's lot and a cifiHorner waqffia n-tl one. the salesniiUl may he really good at figuring out how I o sell the yellow Mustang. So the yellow Mustang gets sold, and a signal gets sent back to the factory that, hey, people want yellow Mustangs."

Technological gadgets are revolutionising sales inform at ion systems and allowing representatives to have up-lO'ilie-second information. In visiting one of the 1-0,000 golf shops around the country, sales reps For TaylorMade used to spend up to two hours counting golf clubs in stock before filling new orders by hand. Since the company gave its reps handheld devices with bar-code readers and internet connections, the reps now simply point their handheld» at the bar codes and automatically tally inventory, liy using the two hours they save to focus on boosting sales to retail custodiers, sales reps improved productivity by üü percent/'

Databases, Data Warehousing, arid Pats Mining

Today companies organize their information in databases—customer databases, product databases, salesperson databases and then combine data from the different databases, I-or example, the customer database will contain every customer's name, address, past transactions, and even demographics arid psyehographics (Activities, interests, and opinions) in some instances. Instead of a company sending a mass "carpel bombing" mailing of a new offer to every customer in iis database, ii will score the different customers according to purchase recency, frequency, and monetary value. H will send the offer only to the highest scoring customers. Resides saving on mailing expenses, this will often achieve a duuble-digil response rate.

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Salehoo Secrets and Tips

As with any web site, SaleHoo has a number of features that will help you in buying products from around the world. Once you have an account on SaleHoo, which only costs a one-time fee, you can establish up to twenty named searches for products. After that, any time those items become available, you’ll be alerted.

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