Assignment 2 marketing management

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MM_Chpt3_Final.ppt

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3
Collecting Information and
Forecasting Demand

Chapter Questions

What are the components of a modern marketing information system?
What are useful internal records?
What makes up a marketing intelligence system?
What are some influential macro environment developments?
How can companies accurately measure and forecast demand?

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What is a
Marketing Information System?

A marketing information system consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.

Marketing Information and Customer Insights

Ch 4 -*

Table 3.2 Information Needs Probes

What decisions do you regularly make?
What information do you need to make these decisions?
What information do you regularly get?
What studies do you periodically request?
What information would you want that you are not getting now?
What are the four most helpful improvements that could be made in the present marketing information system?

Internal Records and
Marketing Intelligence

Order-to-payment cycle
Sales information system
Databases, warehousing, data mining
Marketing intelligence system

How do you gather information from customers?

Database Management

What is a
Marketing Intelligence System?

A marketing intelligence system is a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment.

Steps to Quality Marketing Intelligence

Train sales force to scan for new developments
Motivate channel members to share intelligence
Hire external experts to collect intelligence
Network externally
Utilize a customer advisory panel
Utilize government data sources
Purchase information

Sources of Competitive Information Online

Independent customer goods and service review forums
Distributor or sales agent feedback sites
Combination sites offering customer reviews and expert opinions
Customer complaint sites
Public blogs

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Needs and Trends

Fad

Trend

Megatrend

Major Forces in the Environment

Demographic

Economic

Socio-cultural

Natural

Technological

Political-legal

Population and Demographics

Population growth
Population age mix
Ethnic markets
Educational groups
Household patterns

Perspective on the Global Demographic Environment

Economic Environment

Consumer Psychology

Income Distribution

Income, Savings, Debt, Credit

Economic Environment and Consumer Psychology

Income Distribution

Subsistence economies
Raw-material-exporting economies
Industrializing economies
Industrial economies

Social-Cultural Environment

Views of themselves
Views of others
Views of organizations
Views of society
Views of nature
Views of the universe

Table 3.4 Most Popular
American Leisure Activities

Reading
TV Watching
Spending time with family
Going to movies
Fishing

What big activity are we missing from this list?

Computer activities
Gardening
Renting movies
Walking
Exercise

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Socio-Cultural Influences

Guns in America – A core belief

Natural Environment

Shortage of raw materials
Increased energy costs
Anti-pollution pressures
Governmental protections

Keys to Avoiding
Green Marketing Myopia

Consumer Value Positioning
Calibration of Consumer Knowledge
Credibility of Product Claims

Consumer Environmental Segments

Genuine Greens
Not Me Greens
Go-with-the-Flow Greens
Dream Greens
Business First Greens
Mean Greens

Technological Environment

Pace of change
Opportunities for innovation
Varying R&D budgets
Increased regulation of change

The Political-Legal Environment

Business Legislation

Growth of Special Interest Groups

Forecasting and
Demand Measurement

How can we measure market demand?
Potential market
Available market
Target market
Penetrated market

A Vocabulary for
Demand Measurement

Market Demand

Market Forecast

Market Potential

Company Demand

Company Sales Forecast

Company Sales Potential

Market Demand Functions

Estimating Current Demand:
Total Market Potential

Calculations
Multiple potential number of buyers by average quantity each purchases times price
Chain-ratio method

Estimating Current Demand:
Area Market Potential

Market-Buildup

Estimating Current Demand:
Area Market Potential

Multiple-Factor Index

Estimating Future Demand

Survey of Buyers’ Intentions
Composite of Sales Force Opinions
Expert Opinion
Past-Sales Analysis
Market-Test Method

For Review

What are the components of a modern marketing information system?
What are useful internal records?
What makes up a marketing intelligence system?
What are some influential macroenvironment developments?
How can companies accurately measure and forecast demand?