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Chapter 3 - Collecting information and forecasting demand. After studying this chapter you will be able to understand: 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?
Phillip Kevin Lane Kotler • Keller Marketing Management • 14e a h C r e t p 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? What are some influential macroeconomic developments? How can companies accurately measure and Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide of 28 Collecting Information Customers Competitors Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall External Factors Slide of 28 Marketing Information System People Procedures Equipment Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide of 28 Marketing Information System Internal Records Marketing Research Insight Marketing Intelligence Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide of 28 Internal Records Order-to-Payment Cycle Databases / Data Mining Sales Information Systems Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide of 28 Marketing Intelligence News and Trade Publications Meet with customers, suppliers, distributors, and other managers Monitor social media sites Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide of 28 Improving Marketing Intelligence Sales Force External Experts Establish industry network Customer Advisory Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide of 28 Marketing Intelligence & the Internet Independent Online Forums Distributor or sales agents feedback sites Customer review and expert opinion sites Customer complaint sites Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 10 of 28 Major Environmental Forces Demographics Economic Technological Natural Political-Legal Sociocultural Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 14 of 28 Demographic Environment Worldwide population growth Population age mix Ethnic and other markets Educational Groups Household patterns Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 15 of 28 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, nd ed (Tonawanda, NY: Kids Can Press, 2002) Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 16 of 28 Economic Environment Consumer Psychology Income Distribution Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 17 of 28 Sociocultural Environment Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 18 of 28 Natural Environment Environmental Regulations Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 19 of 28 Technological Environment Accelerated pace of change Unlimited opportunities R&D Spending Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 20 of 28 Political-Legal Environment Government Agencies Law s Special Interest Groups Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 21 of 28 Forecasting and Demand Measurement Market - Size - Growth - Profit potential Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 22 of 28 Market Types Potential Market Available Market Target Market Penetrated Market Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 23 of 28 g i F e r u Ninety Types of Demand Measurement Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 24 of 28 Demand Measurement Market Demand Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Company Demand Slide 25 of 28 g i F e r u Market Demand Functions Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide 26 of 28 Estimating Current Demand Area market potential Total market potential Potential Buyers X Average purchase quantity X Average price Chain-ratio method Average percentage of income spent on: Demand for new X Populatio X light beer n Food X Beverages X Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Alcoholic beverages Expected % X of spending on Light beer Slide 27 of 28 Estimating Future Demand Sales Force Opinions Past Sales Analysis Forecasting Buyer’s Intentions Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Expert Slide 28 of 28 ... 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... Records Marketing Research Insight Marketing Intelligence Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide of 28 Internal Records Order-to-Payment Cycle Databases / Data... of 28 Marketing Information System People Procedures Equipment Copyright © 2012 Pearson Education, Inc Publishing as Prentice Hall Slide of 28 Marketing Information System Internal Records Marketing