v47 ch4 market research & demand zarah adea

CONDUCTING MARKETING RESEARCH AND FORECASTING DEMAND

Zarah Katrina C. AdeaAteneo Graduate School of Business

1

Top 10 Concepts

Outline: Conducting Marketing Research and Forecasting Demand

1. Marketing research defined2. Characteristics of a good marketing research3. Market research process involves 6 steps4. Data sources – Primary or

Secondary? 5. Research approaches &

instruments

Outline: Conducting Marketing Research and Forecasting Demand

6. Sampling plan & contact methods7. Measures of market productivity8. Two types of demands9. Productive way to breakdown

the market10. Estimating current &

future demand

Concept 1:Marketing research is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.

Insights to help interpret past performance and plan future activities

Companies can conduct their own marketing research or hire other companies to do it for them.

Concept 2:

7 Characteristics of a good marketing research

Concept 3:

Marketing Research Process – 6 Steps

Concept 4:

Decision 1: Data Sources – Primary or Secondary?

Secondary DataPrimary Data

Concept 5:

Decision 2: Research Approaches & Instruments

Research Approaches: Marketers collect primary data in five main ways

Concept 5:

Decision 2: Research Approaches & Instruments

Research Instruments: Marketing researchers have a choice of three main research instruments in collecting primary data

Concept 6:

Decision 3: Sampling Plan and Contact methods

Concept 6:

Decision 3: Sampling Plan and Contact methods

Concept 7:

Two complementary approaches to measuring Marketing Productivity

Used to assess marketing effects

Used to estimate causal relationships & measure how marketing activity affects outcomes

Concept 7:

Two complementary approaches to measuring Marketing Productivity

Customer- Performance scorecard

Stakeholder- Performance scorecard

Concept 8:

Marketing is responsible for preparing sales forecasts based on estimates of demand

Market Demand 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

Company Demand The company’s

estimated share of market demand at alternative levels of company marketing effort in a given time period.

Concept 9:

Marketers break down the market into segments to help them with market planning

Concept 10:

Estimating Current & Future Demand

Summary: Conducting Marketing Research and Forecasting Demand

1. Marketing research defined2. 7 Characteristics of a good marketing research3. Market research process involves 6 steps4. Data sources – Primary or

Secondary? 5. Research approaches &

instruments

Summary: Conducting Marketing Research and Forecasting Demand

6. Sampling plan & contact methods7. Complementary measures of market

productivity8. Two types of demands9. Productive way to breakdown

the market10. Estimating current &

future demand

My Conclusion: Conducting Marketing Research and Forecasting Demand

The success of a brand or a product often depends on discovering market opportunities through marketing research and having timely, accurate, and actionable information about consumers and competition in order to make good business decisions.

CONDUCTING MARKETING RESEARCH AND FORECASTING DEMAND

Zarah Katrina C. AdeaAteneo Graduate School of Business

20

Top 10 Concepts