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Marketing
Research and
Forecasting
Demand
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Outline: Conducting Marketing
Research and Forecasting
Demand
1. Defining Marketing Research
2. Developing the research plan
Metrics for measuring good marketing
3.
productivity
Assessing ROI of marketing
4.
expenditures
5. Measuring and Forecasting Demand
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Marketing research is…
important because it…
Why?
Can lead to the success of a brand or a
–
product.
How?
By producing insight into the customer’s
–
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Marketing Research is the…
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Marketing Research Process
involves…
1.Defining the
problem 2.Developing the 3.Collecting 4.Analyzing
& objectives research plan information the information
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Developing the Research Plan
Data Sources
1.
Research instruments
2.
Research approach
3.
Sampling plan
4.
Contact methods
5.
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Developing the Research Plan
Researchers can gather:
Primary Data
–Data freshly gathered for a specific purpose or for a
specific research project
Secondary Data
– Collected for another purpose and
already exist somewhere
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Developing the Research Plan
Marketing Research can be approached in many ways:
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Developing
The the Research
following research Plan
instruments are used
to collect data:
Questionnaires
Qualitative Measures
Technological Devices
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Step 2:
Some popular Qualitative Research approaches are…
Developing the Research Plan
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Developing the Research
Sampling Plan decisions:
Plan
1)Sampling plan unit: Who should we survey?
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Step 2:
Developing
Probability and Nonthe Research
probability Samples:Plan
Probability Sample
1)Simple random sample
2)Stratified random sample
3)Cluster Sample
3)Quota sample
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Developing the Research Plan
Contact Methods:
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Measuring Marketing
Productivity
-Marketing
External
Metrics
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Marketing Dashboards to
improve effectiveness and
efficiency
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Forecasting Demand and
Measurement
Purpose:
– Identify market opportunities
How:
Measure and forecast size, growth
–
Who:
Marketers are responsible for preparing sales forecast
–
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Major Concepts in Demand
Measurement
1. Market Demand
1. Company Demand
•
Demand function
•
Sales forecast
•
Potential
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The Measures of Market
Demand
Ways to break down the market:
1.Potential Market
1. Available Market
1. Target Market
1. Penetrated market
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Market Forecast and Market
Potential
Market Forecast
Market demand corresponding to the level of Industry
–
marketing expenditure.
Market Potential
–
Is the limit approached by the market demand as an
industry marketing expenditures approach infinity for a
given marketing environment.
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Market Demand and Company
Demand
Market Demand
–
total volume that would be bought ….
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Estimating Current Demand
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Estimating Current Demand
during a given
maximum available to all the
period
amount of sales firms in an
industry
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Estimating Current Demand
during a given
maximum period
in an area (city, state or nation)
amount of sales
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Estimating Current Demand
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Estimating Current Demand
–
Derive data from: industry trade association
–
Buy reports from marketing research (E.g. Nielsen)
–
Industry Data, Competitors Data
–
Over-all or Brand by Brand
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Estimating Future Demand
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Estimating Future Demand
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Estimating Future Demand
Expert Opinion
dealers, distributors, suppliers, marketing consultants
–
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Summary:
1.Defining the
problem
& objectives
2.Developing the
research plan
3.Collecting
information Sales Force, Experts, History and Market Sales
Market and company Demand
4.Analyzing
Total and Area Market Potential, industry sales & the information
market share
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