Collecting Information and Forecasting Demand

Collecting Information and
Forecasting Demand
Discussion Questions
1. What are the components of a modern
marketing information system?
2. What are useful internal records for such a
system?
3. What makes up a marketing intelligence system?
4. What are some influential macroeconomic
developments?
5. How can companies accurately measure and
forecast demand?
Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall
Slide 2 of 28
Collecting Information
Customers
Competitors
External Factors
Slide 3 of 28
Marketing Information System

People
Procedures
Equipment
Slide 4 of 28
What decisions do you regularly make?

What information do you need to make these decisions?
What information do you regularly get?
What special studies do you periodically request?
What information would you want that you are not getting now?
What information would you want daily? Weekly? Monthly? Yearly?
What online or offline newsletters, briefings, blogs, reports, or
magazines would you like to see on a regular basis?
What topics would you like to be kept informed of?
What data analysis and reporting programs would you want?
What are the four most helpful improvements that could be made in
the present marketing information system?
Slide 5 of 28
Marketing Information System

Internal Records
Marketing Research
Insight
Marketing Intelligence
Slide 6 of 28
Internal Records
Order-to-Payment Cycle
Databases / Data Mining
Sales Information Systems

Slide 7 of 28
Marketing Intelligence
News and Trade Publications
Meet with customers,

suppliers, distributors,
and other managers
Monitor social
media sites
Slide 8 of 28
Improving Marketing Intelligence

Sales Force
External Experts
Establish industry network
Customer Advisory Panel

Slide 9 of 28
Improving Marketing Intelligence: The More

Specific Way
Train and Motivate the Workforce to spot and report new
developments
Motivate distributors, retailers, and other intermediaries to
pass along important intelligence
Hire external experts to collect intelligence
Network internally and externally
Set up customer advisory panel
Take advantage of government related data resources
Purchase information from outside research firms and
vendors
Slide 10 of 28
Slide 11 of 28
Collecting Marketing Intelligence on the Internet

Independent Online Forums
Distributor or sales agents feedback sites

Customer review and expert opinion
sites
Customer complaint sites
Slide 12 of 28
Using Marketing Intelligence

Share Information
Quickly
Slide 13 of 28
Slide 14 of 28
Analyzing the Macroenvironment
Slide 15 of 28
Needs and Trends
Megatrend
Fad
Trend
Slide 16 of 28
Major Environmental Forces
Demographics
Economic
Technological
Natural
Political-Legal
Sociocultural
Slide 17 of 28
Demographic Environment
Worldwide population growth
Population age mix
Ethnic and other markets
Educational Groups
Household patterns
Slide 18 of 28
Economic Environment
Consumer
Psychology
Income
Distribution
Slide 19 of 28
Ourselves
Nature
Others
Sociocultural
Environment
Society
Universe
Organizations
Slide 20 of 28
Slide 21 of 28
Natural Environment
Environmental Regulations
Slide 22 of 28
Slide 23 of 28
Slide 24 of 28
Technological Environment
Accelerated pace of change
Unlimited opportunities
R&D Spending
Regulations in Use of
Technology
Slide 25 of 28
Political-Legal Environment
Government Agencies
Laws
Special Interest Groups

Slide 26 of 28
Forecasting and Demand Measurement

Market
- Size
- Growth
- Profit potential
Slide 27 of 28
Market Types
Potential Market
Available Market
Target Market
Penetrated Market
Slide 28 of 28
Ninety Types of Demand Measurement
Slide 29 of 28
Demand Measurement
Market Demand
Company Demand
Slide 30 of 28
Market Demand Functions
Slide 31 of 28
Estimating Current Demand

Area market potential
Total market potential

Potential
Buyers
Average
purchase
quantity
Average
price
Chain-ratio method
Average percentage of income spent on:
Demand
for new
light beer
X Population X
Food
Beverages
Alcoholic
beverages
Expected % of
X spending on
Light beer
Slide 32 of 28
Estimating Future Demand
Sales Force Opinions

Buyers Intentions
Past Sales Analysis

Forecasting
Expert Opinions
Slide 33 of 28

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Collecting Information and

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Marketing Information System

What decisions do you regularly make?

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Marketing Information System

Databases / Data Mining

Sales Information Systems

Meet with customers,

Improving Marketing Intelligence

Establish industry network

Customer Advisory Panel

Improving Marketing Intelligence: The More

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Collecting Marketing Intelligence on the Internet

Distributor or sales agents feedback sites

Customer complaint sites

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Using Marketing Intelligence

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Analyzing the Macroenvironment

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Needs and Trends

Major Environmental Forces

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Special Interest Groups

Forecasting and Demand Measurement

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Ninety Types of Demand Measurement

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Market Demand Functions

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Estimating Current Demand

Total market potential

Copyright 2012 Pearson Education, Inc. Publishing as Prentice Hall

Estimating Future Demand

Sales Force Opinions

Past Sales Analysis

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