collecting information and forecasting demand
TRANSCRIPT
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Collecting Information and
Forecasting Demand
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Discussion Questions
1. What are the components of a modernmarketing 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?
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Collecting Information
Customers
CompetitorsExternal Factors
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Marketing Information System
People
Equipment
Procedures
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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?
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Insight
Marketing Information System
Marketing Research
Marketing Intelligence
Internal Records
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Internal Records
Order-to-Payment Cycle
Databases / Data Mining
Sales Information Systems
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Marketing Intelligence
News and Trade Publications
Meet with customers,
suppliers, distributors,
and other managers
Monitor social
media sites
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Improving Marketing Intelligence
Sales Force
External Experts
Establish industry network
Customer Advisory Panel
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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 andvendors
Improving Marketing Intelligence: The More
Specific Way
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Collecting Marketing Intelligence on the Internet
Independent Online Forums
Distributor or sales agents feedback sites
Customer review and expert opinion
sites
Customer complaint sites
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Using Marketing Intelligence
Share Information
Quickly
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Analyzing the Macroenvironment
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Needs and Trends
FadMegatrend
Trend
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Major Environmental Forces
Economic
Sociocultural
Natural
Technological
Political-Legal
Demographics
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Demographic Environment
Worldwide population growth
Population age mix
Ethnic and other markets
Educational Groups
Household patterns
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Economic Environment
Consumer
Psychology
Income
Distribution
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Ourselves
Others
Universe
Organizations
Society
Nature
Sociocultural
Environment
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Natural Environment
Environmental Regulations
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Technological Environment
Accelerated pace of change
Unlimited opportunities
R&D Spending
Regulations in Use of
Technology
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Political-Legal Environment
Special Interest Groups
Government Agencies
Laws
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Forecasting and Demand Measurement
Market
- Size
- Growth
- Profit potential
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Market Types
Potential Market
Available Market
Target Market
Penetrated Market
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Ninety Types of Demand Measurement
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Demand Measurement
Market Demand
Company Demand
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Market Demand Functions
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Estimating Current Demand
Area market potentialTotal market potential
Potential
Buyers
Average
purchase
quantity
Average
priceX X
Chain-ratio method
Demand
for newlight beer
Population
Average percentage of income spent on:
X X Food X Beverages XAlcoholic
beverages X
Expected % of
spending onLight beer
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Estimating Future Demand
Sales Force OpinionsForecasting
Past Sales Analysis
Buyers Intentions
Expert Opinions