CHAPTER 3 Collecting Information and Forecasting Demand Copyright

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CHAPTER 3 Collecting Information and Forecasting Demand Copyright © 2016 Pearson Education, Inc. 3

CHAPTER 3 Collecting Information and Forecasting Demand Copyright © 2016 Pearson Education, Inc. 3 -

COMPONENTS OF A MODERN MARKETING INFORMATION SYSTEM (MIS) ü Internal company records ü Marketing

COMPONENTS OF A MODERN MARKETING INFORMATION SYSTEM (MIS) ü Internal company records ü Marketing intelligence activities ü Marketing research Copyright © 2016 Pearson Education, Inc. 3 -2

INTERNAL RECORDS • Internal reports of orders • Sales • Prices • Costs •

INTERNAL RECORDS • Internal reports of orders • Sales • Prices • Costs • Inventory levels • Receivables • Payables Copyright © 2016 Pearson Education, Inc. 3 -3

MARKETING INTELLIGENCE • Marketing intelligence system: a set of procedures and sources that managers

MARKETING INTELLIGENCE • Marketing intelligence system: a set of procedures and sources that managers use to obtain everyday information about developments in the marketing environment Copyright © 2016 Pearson Education, Inc. 3 -4

ANALYZING THE MACROENVIRONMENT • Needs and Trends – Fad – Trend – Megatrend Copyright

ANALYZING THE MACROENVIRONMENT • Needs and Trends – Fad – Trend – Megatrend Copyright © 2016 Pearson Education, Inc. 3 -5

EXTERNAL MARKETING ENVIRONMENT MAJOR FORCES IN THE ENVIRONMENT Demographic Natural Economic Technological Socio-cultural Political-legal

EXTERNAL MARKETING ENVIRONMENT MAJOR FORCES IN THE ENVIRONMENT Demographic Natural Economic Technological Socio-cultural Political-legal Copyright © 2016 Pearson Education, Inc. 3 -6

THE DEMOGRAPHIC ENVIRONMENT • Worldwide population growth • Population age mix • Ethnic and

THE DEMOGRAPHIC ENVIRONMENT • Worldwide population growth • Population age mix • Ethnic and other markets • Educational groups • Household patterns Copyright © 2016 Pearson Education, Inc. 3 -7

THE ECONOMIC ENVIRONMENT CONSUMER PSYCHOLOGY INCOME DISTRIBUTION INCOME, SAVINGS, DEBT, CREDIT Copyright © 2016

THE ECONOMIC ENVIRONMENT CONSUMER PSYCHOLOGY INCOME DISTRIBUTION INCOME, SAVINGS, DEBT, CREDIT Copyright © 2016 Pearson Education, Inc. 3 -8

THE SOCIOCULTURAL ENVIRONMENT Views of ourselves Views of society Views of nature Views of

THE SOCIOCULTURAL ENVIRONMENT Views of ourselves Views of society Views of nature Views of others Views of organizations Views of the universe Copyright © 2016 Pearson Education, Inc. 3 -9

THE SOCIOCULTURAL ENVIRONMENT • Core cultural values – Values are passed from parents to

THE SOCIOCULTURAL ENVIRONMENT • Core cultural values – Values are passed from parents to children and reinforced by social institutions • Subcultures – Groups with shared values, beliefs, preferences, and behaviors emerging from their special life experiences or circumstances Copyright © 2016 Pearson Education, Inc. 3 -10

THE NATURAL ENVIRONMENT • Corporate environmentalism – Opportunities await those who can reconcile prosperity

THE NATURAL ENVIRONMENT • Corporate environmentalism – Opportunities await those who can reconcile prosperity with environmental protection Copyright © 2016 Pearson Education, Inc. 3 -11

THE TECHNOLOGICAL ENVIRONMENT Accelerating pace of change Unlimited opportunities for innovation Varying R&D budgets

THE TECHNOLOGICAL ENVIRONMENT Accelerating pace of change Unlimited opportunities for innovation Varying R&D budgets Increased regulation of technological change Copyright © 2016 Pearson Education, Inc. 3 -12

THE POLITICAL-LEGAL ENVIRONMENT LAWS GOVERNMENT AGENCIES PRESSURE GROUPS Copyright © 2016 Pearson Education, Inc.

THE POLITICAL-LEGAL ENVIRONMENT LAWS GOVERNMENT AGENCIES PRESSURE GROUPS Copyright © 2016 Pearson Education, Inc. 3 -13

FORECASTING AND DEMAND MEASUREMENT • Market demand measures – Potential market – Available market

FORECASTING AND DEMAND MEASUREMENT • Market demand measures – Potential market – Available market – Target market – Penetrated market Copyright © 2016 Pearson Education, Inc. 3 -14

ESTIMATING CURRENT DEMAND • Total market potential – Chain-ratio method Copyright © 2016 Pearson

ESTIMATING CURRENT DEMAND • Total market potential – Chain-ratio method Copyright © 2016 Pearson Education, Inc. 3 -15

ESTIMATING FUTURE DEMAND • Survey of buyers’ intentions – Forecasting and purchase probability scale

ESTIMATING FUTURE DEMAND • Survey of buyers’ intentions – Forecasting and purchase probability scale • • Composite of sales force opinions Expert opinion Past-sales analysis Market-test method Copyright © 2016 Pearson Education, Inc. 3 -16

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