MARKET

& FORECAST
RESEARCH DEMAND
The ultimate goal of a business is
to sell a product/service.
I N V E R S E F U N N E L M O D E L
 WHY
“ To m a k e t h e b e s t p o s s i b l e
t a c t i c a l d e c i s i“oI nf s i n t h e s h o r t
y o ur uknn oawn dt hset r ea nt ee gmi yc a
dn ed c i s ki on no sw i yn o u r
self, you nee t hde nlootn fge a r ur nt h e r e s u l t o f
– M a r ak eht uen r sd rneede db ai tnt fl oe rsm. ”a t i o n ”
-Sun Tzu, Art of War
 MarketingWhat research
doesisitthe
do?systematic
design, collection, analysis, and reporting of
What
Marketdoes it mean to useexternal
Market context
Research?
data and findings relevant to a specific to
research provides
enable
Companiesexecutives
marketing that useto Market
situation make
facingsmarter decisions
Research have a
the company.
on howchance
better to allocate because–they
their resources
to succeed people,
are
aligned withmoney and time.
the external marketplace
  Enter a new market

 Launch a new product or service W H A T

M A R K E T
R E S E A R C H
 Promote brand awareness

 Optimize your marketing campaign

CAN
TELL
 Improve customer service
YOU
 Change messaging perception of your

product or service

 Adjust price points

 Change your product packaging or delivery

method
HOW TO CONDUCT A
MARKETING RESEARCH
 PROBLEM
DEFINITION

RESEARCH
PLAN

G AT H E R
I N F O R M AT I O N

AN ALYSIS

FINDINGS

DECISION
DEFINE THE
PROBLEM
PROBLEM
DEFINITION

1. Define
2. Alternatives
3. Objectives
PROBLEM
DEFINITION

1. Define
Find out everything you can about first class air travelers need

Find out whether enough passengers aboard a B777

flying directly between Chicago and Tokyo would pay
$25 for ultra highspeed Wifi service so we can break
even in one year on the cost of offering this service
PROBLEM
DEFINITION

2. Alternatives
1. Should they offer ultra highspeed wifi?
2. If so, should it offer it to firstclass only or include business
class and possibly economy class?
3. What prices should be charged?
4. On what types of planes and lenghts of trips should the
service be offered?
PROBLEM
DEFINITION

3. Objectives
1. What types of first-class passengers would respond most
to ultra high speed wifi service?
2. How many are likely to use it at different price levels?
3. How many might choose the airline because of the
service?
4. How much image long-term goodwill will this service add
to its image?
Step 2: Develop the Research Plan

Data Research
Sources Approach

Research Sampling
Instruments Plan

Contact
Methods
 Data Sources

PRIMARY Data freshly gathered for a specific purpose or project.

DATA (interviews, surveys, talking to customers and established businesses)

SECONDARY Data that were collected for another purpose and

DATA already exist somewhere.
Research Approaches

Observation Camella
Homes:
“Bulilit..sana
Ethnographic y sa masikip”
Research Approaches
Focus Group
Research Approaches

Observation

Ethnographic

Focus Group

Survey

Behavioral Data

Experimentation
Research Instruments

➢Questionnaires
➢Qualitative Measures
➢Technological Devices
 Craft your survey questions carefully.

Questionnaires Knowing how to ask a question is just as

important as what to ask.
Question Types - Closed End
Questions
Dichotomous: Multiple Choice:

In arranging this trip, did With whom are you traveling on

this trip?
you contact American
⬜ No one
Airlines?
⬜ Spouse
⬜ Yes ⬜ No
⬜ Spouse and children
⬜ Children only
⬜ Business associates/
⬜friends/relatives
⬜ An organized tour group
Question Types - Closed End
Questions
Likert Scale: Semantic Differential:
Question Types - Closed End
Questions
Importance Scale: Rating Scale:

The food’s serving size is

______________ to me when
deciding where to dine.
Question Types - Closed End
Questions
Intention to Buy Scale:

How likely are you to purchase tickets on American Airlines if in-flight

Internet access were available?
⬜ Definitely buy
⬜ Probably buy
⬜ Not sure
⬜ Probably not buy
⬜ Definitely not buy
Question Types - Open-End
Questions
Completely Unstructured:

What is your opinion of American Airlines?

Question Types - Open-End
Questions
Word Association: Sentence Completion:
What is the first word that comes to your
mind when you hear the following?
Airline ________________________
American _____________________
Travel ________________________
When I choose an airline, the
most important consideration in
my decision is:
__________________________
__________________________
__________________________
__________________________
__________________________
__________________________
__________________________
__________________________
__________________________
______.
Question Types - Open-End
Questions
Story Completion: Picture (Empty Balloons):
“I flew American a few days ago. I
noticed that the exterior and interior
of the plane had very bright colors.
This aroused in me the following
thoughts and feelings.” Now
complete the story.
____________________________
____________________________
____________________________
____________________________
____________________________
____________________________
____________________________
__________
Question Types - Open-End
Thematic Apperception Test (TAT)
Questions

Make up a story that reflects what you think is happening in this picture.
Questionnaire Do’s and Don’ts
● Ensure questions are free of bias ● Avoid negatives
● Keep your questions simple, specific ● Avoid hypotheticals
and direct ● Avoid words that could be
● Avoid jargon misheard
● Avoid sophisticated words ● Use response bands
● Avoid ambiguous words ● Use mutually exclusive
● Avoid leading questions categories
● Avoid sensitive questions that some ● Allow for “other” in fixed
respondents may find too personal response questions
or offensive
Qualitative Measures

Word Association

Projective Techniques

Visualization

Brand Personification

Laddering
Technological Devices
 Sampling Plan

Sampling
Sampling Unit Sample Size
Procedure

Who is to be How many How should

surveyed? people should the
be surveyed? respondents
be chosen?
Types of Samples

● Simple random
Probability
● Stratified random
Samples
● Cluster

● Convenience
Nonprobability
● Judgment
Samples
● Quota
 Contact Methods

Mail
Questionnaire
Telephone
Interview
Personal
Interview
Online
Interview
G AT H E R T H E
INFORMATION
GATHER
1. Data Collection
INFORMATION

2. Get Right Respondents

3. Improving data
Collection
4. Privacy
 SURVEY PROBLEMS
GATHER
INFORMATION
1. Respondents not home
2. Respondents refuse to cooperate
3. Respondents – biased/dishonest answers
4. Interviewers biased or dishonest
 4. Analyze the
ANALYZE
THE
INFORMATIO
Information
N

 Extract findings from collected data and

developing summary measures.
 Compute averages and measures of dispersion
 Advances statistical techniques & decision
models
 5. Present the
Findings
PRESENT
THE
FINDINGS The researcher
present findings
relevant to major
marketing
decisions facing
management
 6. Make the Decision
Armed with your market research data, you
can confidently make sound marketing
MAKE THE
decisions.
DECISION
 6. Make the Decision
Marketing-mix models analyze data
from a variety of sources, such as
MAKE THE
retailer scanner data, company
DECISION
shipment data, pricing, media, and
promotion spending data, to
understand more precisely the
effects
of specific marketing activities.
What are the two
approaches in
measuring
marketing
productivity?
1. Marketing Metrics

Marketing metrics is the

set of measures that helps
marketers quantify,
compare, and interpret

marketing performance.
2. Marketing Mix Modeling
Marketing-mix models analyze data from a variety of
sources, such as retailer scanner data, company
shipment data, pricing, media, and promotion spending
data, to understand more precisely the effects of
specific marketing activities.
Figure 4.5 Market Demand Functions
Figure 4.5 Market Demand Functions
 E S T I M AT I N G
CURRENT DEMAND
1. Actual industry sales in
market
2. Competitors & estimate
their sales
 E S T I M AT I N G
FUTURE DEMAND
 1. Buyer’s Intentions
2. Sales Force Opinions
3. Expert Opinions
4. Past Sale Analysis
 EXAMPLE&
A P P L I C AT I O N
Total Sales exPlant

Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18
PL DV 2,891,776 3,030,847 3,334,553 3,243,159 3,279,527 3,313,645 3,189,647 3,337,347 3,281,403 3,332,313 3,167,849 2,930,597
Excel 70,506 71,271 79,426 77,596 83,171 78,364 73,914 77,233 75,699 77,516 75,144 71,315
Wallright 3,579 3,439 3,911 3,600 3,984 3,639 3,648 3,693 3,645 3,748 3,570 3,380
Holcim 4X 41,586 46,525 50,046 48,531 44,026 50,543 50,024 52,569 51,912 52,028 47,999 42,530
Total 115,671 121,234 133,382 129,726 131,181 132,546 127,586 133,494 131,256 133,293 126,714 117,224

Blender(Excel/Slag Cement) - - - - - - - - - - - -
PL DV
Kiln 100,461 89,717 14,326 96,880 100,461 96,880 100,461 100,461 96,880 100,461 96,880 100,461
Mill 72,684 115,086 128,408 124,288 127,326 123,627 128,544 128,470 124,889 128,333 124,259 128,493
4X / OPC 36,266 31,903 55,729 52,679 47,157 53,064 55,585 55,222 47,108 47,191 41,645 37,709
Excel 32,927 79,853 69,060 68,180 76,460 67,180 69,460 69,713 74,180 77,460 79,180 87,460
Wallright 3,491 3,331 3,619 3,428 3,709 3,383 3,500 3,535 3,601 3,683 3,434 3,324
 Journal
Marketing Information
Systems: A New Dimension
for Marketing Research
RICHARD H. BRIEN and JAMES E. STAFFORD
Author

1
What is the Journal all about

2
3
Marketing Information System –
(MIS)

BUSINESS
DECISION

INFORMATION

DATA
4
Thank You!