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UNO MKT4300_Chapter 3

Kotler and Keller
by

Michael Breazeale

on 11 February 2014

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Transcript of UNO MKT4300_Chapter 3

Dr. Mike Breazeale
MKT 4300
Marketing Management

3
Collecting Information and
Forecasting Demand

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.
What is a
Marketing Information System?

Internal Company Records
Marketing Intelligence
Marketing Research
Order-to-payment cycle
Sales information system
Databases, warehousing, data mining
Marketing intelligence system
Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.
Define the problem
Develop research plan
Collect information
Analyze information
Present findings
Make decision
The Marketing Research Process

What is it we want to know?
Specify decision alternatives
State research objectives
Step 1: Define the Problem
Causal
Descriptive
Exploratory
Types of Research
Books
Newspapers
Trade publications
Networking with suppliers and customers
Monitoring social media
Paid sources
Internet cookies
Data sources
Research approach
Research instruments
Sampling plan
Contact methods
Step 2: Develop the Research Plan

Primary
vs.
Secondary
Observational and ethnographic
Focus group
Survey
Behavioral
Experimental
Research Approaches
Questionnaires
Qualitative Measures
Technological Devices
Research Instruments
Laddering
Projective Techniques
Visualization
Word Associations
Qualitative Techniques
Sampling unit: Who is to be surveyed?
Sample size: How many people should be surveyed?
Sampling procedure: How should the respondents be chosen?
Sampling Plan
Mail
Telephone
In Person
Online
The Different Ways We Can Define "Market"
Potential market
Available market
Target market
Penetrated market

Forecasting and
Demand Measurement

Company Sales Potential
Company Sales Forecast
Company Demand
Market Potential
Market Forecast
Market Demand
A Vocabulary for
Demand Measurement
The total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program
Expected demand
The limit approached by market demand as industry marketing expenditures approach infinity for a given environment
The company's estimated share of market demand at alternate levels of company marketing effort in a given time period
The expected level of company sales based on a chosen marketing plan and an assumed marketing environment
The sales limit approached by company demand as company marketing effort increases relative to that of competitors
Market Demand Functions
Two of the Possible Calculations
Multiply potential number of buyers by average quantity each purchases times price
Chain-ratio method
Estimating Current Demand:
Total Market Potential
Market-Buildup
Estimating Current Demand:
Area Market Potential
Multiple-Factor Index
Estimating Current Demand:
Area Market Potential
Survey of Buyers’ Intentions
Composite of Sales Force Opinions
Expert Opinion
Past-Sales Analysis
Market-Test Method
Estimating Future Demand
Forecasting
The art of anticipating what buyers are likely to do under a given set of conditions
Political-legal
Technological
Natural
Sociocultural
Economic
Demographic
Major Forces in the Environment
Population growth
Population age mix
Ethnic markets
Educational groups
Household patterns
Population and Demographics
Perspective on the Global Demographic Environment
Income, Savings, Debt, Credit
Income Distribution
Consumer Psychology
Economic Environment
Subsistence economies
Raw-material-exporting economies
Industrializing economies
Industrial economies
Income Distribution
Views of themselves
Views of others
Views of organizations
Views of society
Views of nature
Views of the universe
Sociocultural Environment
Core Beliefs and Secondary Beliefs
Subcultures
Values passed from parents and
reinforced by social institutions
Values that are more subject
to change
Groups with shared beliefs, values, preferences, and behaviors emerging from specific life experiences or circumstances
Shortage of raw materials
Increased energy costs
Anti-pollution pressures
Governmental protections
Natural Environment
Pace of change
Opportunities for innovation
Varying R&D budgets
Increased regulation of change
Technological Environment
Growth of Special Interest Groups
Business Legislation
The Political-Legal Environment
Sufficient level of interest in a market offering
Consumers with interest, income, and access
The part of the qualified market we are pursuing
The set of customers who are buying our product
Potential Mkt
Available Mkt
Target Mkt
Penetrated Mkt
Market Share
Our company's demand relative to that of our competitors
What about the market for Brand You?
Full transcript