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Collecting Information and Forecasting Demand

Chapter 3. Collecting Information and Forecasting Demand. Discussion Questions. What are the components of a modern marketing information system? What are useful internal records for such a system? What makes up a marketing intelligence system?

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Collecting Information and Forecasting Demand

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  1. Chapter 3 Collecting Information and Forecasting Demand

  2. Discussion Questions • What are the components of a modern marketing information system? • What are useful internal records for such a system? • What makes up a marketing intelligence system? • What are some influential macroeconomic developments? • How can companies accurately measure and forecast demand?

  3. Collecting Information Customers External Factors Competitors

  4. Marketing Information System People Procedures Equipment

  5. Marketing Information System Internal Records Marketing Research Insight Marketing Intelligence

  6. Internal Records Order-to-Payment Cycle Databases / Data Mining Sales Information Systems

  7. Marketing Intelligence News and Trade Publications Meet with customers, suppliers, distributors, and other managers Monitor social media sites

  8. Improving Marketing Intelligence Establish industry network Sales Force External Experts Customer Advisory Panel

  9. Marketing Intelligence & the Internet Independent Online Forums Distributor or sales agents feedback sites Customer review and expert opinion sites Customer complaint sites

  10. Using Marketing Intelligence Share Information Quickly

  11. Analyzing the Macroenvironment

  12. Needs and Trends Megatrend Fad Trend

  13. Major Environmental Forces Demographics Economic Technological Natural Political-Legal Sociocultural

  14. Demographic Environment Worldwide population growth Population age mix Ethnic and other markets Educational Groups Household patterns

  15. The World as a Village If the world were a village of 100 people: 61 – Asian (20 Chinese, 17 Indian) 18 – Unable to read (33 have cell phones) 18 – Under 10 years of age (11 over 60 years old) 18 – Cars in the village 63 – Inadequate sanitation 67 – Non-Christian 30 – Unemployed or underemployed 53 – Live on less than $2 a day 26 – Smoke 14 – Obese 01 – Have AIDS Source: David J. Smith and Shelagh Armstrong, If the World Were a Village: A Book About the World’s People, 2nd ed. (Tonawanda, NY: Kids Can Press, 2002)

  16. Economic Environment Consumer Psychology Income Distribution

  17. Sociocultural Environment

  18. Natural Environment Environmental Regulations

  19. Technological Environment Accelerated pace of change Unlimited opportunities R&D Spending

  20. Political-Legal Environment Government Agencies Laws Special Interest Groups

  21. Forecasting and Demand Measurement • Market • Size • Growth • Profit potential

  22. Market Types Potential Market Available Market Target Market Penetrated Market

  23. Figure 3.2 Ninety Types of Demand Measurement

  24. Demand Measurement Market Demand Company Demand

  25. Figure 3.3 Market Demand Functions

  26. Estimating Current Demand Area market potential Total market potential Average purchase quantity Potential Buyers Average price X X Chain-ratio method Average percentage of income spent on: Demand for new light beer Expected % of spending on Light beer Alcoholic beverages X Population X Food X Beverages X X

  27. Estimating Future Demand Sales Force Opinions Buyer’s Intentions Forecasting Past Sales Analysis Expert Opinions

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