1 3 Collecting Information and Forecasting Demand Chapter

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1 3 Collecting Information and Forecasting Demand

1 3 Collecting Information and Forecasting Demand

Chapter Questions § § § What are the components of a modern marketing information

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? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -2

What is a Marketing Information System? A marketing information system consists of people, equipment,

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. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -3

Case Study: MEDC Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3

Case Study: MEDC Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -4

Table 3. 2 Information Needs Probes § § § What decisions do you regularly

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? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -5

Internal Records and Marketing Intelligence § § Order-to-payment cycle Sales information system Databases, warehousing,

Internal Records and Marketing Intelligence § § Order-to-payment cycle Sales information system Databases, warehousing, data mining Marketing intelligence system Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -6

Database Management Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -7

Database Management Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -7

What is a Marketing Intelligence System? A marketing intelligence system is a set of

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. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -8

Steps to Quality Marketing Intelligence § § § § Train sales force to scan

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 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -9

Sources of Competitive Information § § § Independent customer goods and service review forums

Sources of Competitive Information § § § 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 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -10

Needs and Trends Fad Trend Megatrend Copyright © 2011 Pearson Education, Inc. Publishing as

Needs and Trends Fad Trend Megatrend Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -11

Major Forces in the Environment Demographic Political-legal Economic Technological Socio-cultural Natural Copyright © 2011

Major Forces in the Environment Demographic Political-legal Economic Technological Socio-cultural Natural Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -12

Population and Demographics § § § Population growth Population age mix Ethnic markets Educational

Population and Demographics § § § Population growth Population age mix Ethnic markets Educational groups Household patterns Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -13

Perspective on the Global Demographic Environment Copyright © 2011 Pearson Education, Inc. Publishing as

Perspective on the Global Demographic Environment Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -14

Economic Environment Consumer Psychology Income Distribution Income, Savings, Debt, Credit Copyright © 2011 Pearson

Economic Environment Consumer Psychology Income Distribution Income, Savings, Debt, Credit Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -15

Economic Environment and Consumer Psychology Copyright © 2011 Pearson Education, Inc. Publishing as Prentice

Economic Environment and Consumer Psychology Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -16

Income Distribution § § Subsistence economies Raw-material-exporting economies Industrializing economies Industrial economies Copyright ©

Income Distribution § § Subsistence economies Raw-material-exporting economies Industrializing economies Industrial economies Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -17

Social-Cultural Environment § § § Views of themselves Views of others Views of organizations

Social-Cultural Environment § § § Views of themselves Views of others Views of organizations Views of society Views of nature Views of the universe Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -18

Table 3. 4 Most Popular American Leisure Activities § § § Reading TV Watching

Table 3. 4 Most Popular American Leisure Activities § § § Reading TV Watching Spending time with family Going to movies Fishing § § § Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Computer activities Gardening Renting movies Walking Exercise 3 -19

Socio-Cultural Influences Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -20

Socio-Cultural Influences Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -20

Natural Environment § § Shortage of raw materials Increased energy costs Anti-pollution pressures Governmental

Natural Environment § § Shortage of raw materials Increased energy costs Anti-pollution pressures Governmental protections Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -21

Keys to Avoiding Green Marketing Myopia § § § Consumer Value Positioning Calibration of

Keys to Avoiding Green Marketing Myopia § § § Consumer Value Positioning Calibration of Consumer Knowledge Credibility of Product Claims Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -22

Consumer Environmental Segments § § § Genuine Greens Not Me Greens Go-with-the-Flow Greens Dream

Consumer Environmental Segments § § § Genuine Greens Not Me Greens Go-with-the-Flow Greens Dream Greens Business First Greens Mean Greens Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -23

Technological Environment § § Pace of change Opportunities for innovation Varying R&D budgets Increased

Technological Environment § § Pace of change Opportunities for innovation Varying R&D budgets Increased regulation of change Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -24

The Political-Legal Environment Business Legislation Growth of Special Interest Groups Copyright © 2011 Pearson

The Political-Legal Environment Business Legislation Growth of Special Interest Groups Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -25

Forecasting and Demand Measurement § How can we measure market demand? § Potential market

Forecasting and Demand Measurement § How can we measure market demand? § Potential market § Available market § Target market § Penetrated market Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -26

A Vocabulary for Demand Measurement Market Demand Market Forecast Market Potential Company Demand Company

A Vocabulary for Demand Measurement Market Demand Market Forecast Market Potential Company Demand Company Sales Forecast Company Sales Potential Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -27

Market Demand Functions Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3

Market Demand Functions Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -28

Estimating Current Demand: Total Market Potential § Calculations § § Multiple potential number of

Estimating Current Demand: Total Market Potential § Calculations § § Multiple potential number of buyers by average quantity each purchases times price Chain-ratio method Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -29

Estimating Current Demand: Area Market Potential Market-Buildup Copyright © 2011 Pearson Education, Inc. Publishing

Estimating Current Demand: Area Market Potential Market-Buildup Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -30

Estimating Current Demand: Area Market Potential Multiple-Factor Index Copyright © 2011 Pearson Education, Inc.

Estimating Current Demand: Area Market Potential Multiple-Factor Index Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -31

Estimating Future Demand § § § Survey of Buyers’ Intentions Composite of Sales Force

Estimating Future Demand § § § Survey of Buyers’ Intentions Composite of Sales Force Opinions Expert Opinion Past-Sales Analysis Market-Test Method Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -32

For Review § § § What are the components of a modern marketing information

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? Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 3 -33

DEMAND FORECASTING DEMAND FORECASTING Demand forecasting means estimationDEMAND FORECASTING DEMAND FORECASTING Demand forecasting means estimation
Forecasting Replenishment Forecasting Replenishment Forecasting Forecasting Replenishment ForecastingForecasting Replenishment Forecasting Replenishment Forecasting Forecasting Replenishment Forecasting
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Chapter 3 Collecting Information and Forecasting Demand CopyrightChapter 3 Collecting Information and Forecasting Demand Copyright
CHAPTER 3 Collecting Information and Forecasting Demand CopyrightCHAPTER 3 Collecting Information and Forecasting Demand Copyright
1 3 Collecting Information and Forecasting Demand Chapter1 3 Collecting Information and Forecasting Demand Chapter
Group III Demand Forecasting Demand forecasting n ObjectivesGroup III Demand Forecasting Demand forecasting n Objectives
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Demand Forecasting Demand forecasting means expectation about theDemand Forecasting Demand forecasting means expectation about the
Demand Forecasting SO WHAT IS DEMAND FORECASTING 2152022Demand Forecasting SO WHAT IS DEMAND FORECASTING 2152022
Forecasting Demand Characteristics Dependent demand Independent demand 100Forecasting Demand Characteristics Dependent demand Independent demand 100
Demand Supply Analysis Demand Demand effective desire DemandDemand Supply Analysis Demand Demand effective desire Demand
Business and Economic Forecasting Chapter 5 Demand ForecastingBusiness and Economic Forecasting Chapter 5 Demand Forecasting
Forecasting Forecasting Problems and Methods New product forecastingForecasting Forecasting Problems and Methods New product forecasting
CHAPTER 5 DEMAND FORECASTING COLLABORATIVE PLANNING FORECASTING REPLENISHMENTCHAPTER 5 DEMAND FORECASTING COLLABORATIVE PLANNING FORECASTING REPLENISHMENT
Introduction Definition Forecasting Technology Technological Forecasting Process ForecastingIntroduction Definition Forecasting Technology Technological Forecasting Process Forecasting
Forecasting Forecasting A Basis of Forecasting In businessForecasting Forecasting A Basis of Forecasting In business
Forecasting Forecasting A Basis of Forecasting In businessForecasting Forecasting A Basis of Forecasting In business
Forecasting Models FORECASTING Forecasting is attempting to predictForecasting Models FORECASTING Forecasting is attempting to predict
Session 2 Forecasting and the SOP Demand ForecastingSession 2 Forecasting and the SOP Demand Forecasting
Forecasting Demand Forecasting Methods Qualitative Judgmental Executive OpinionForecasting Demand Forecasting Methods Qualitative Judgmental Executive Opinion
Demand Forecasting What is Forecasting n Process ofDemand Forecasting What is Forecasting n Process of