Chapter 2
Capturing Marketing
Insights
Collecting Information
and Forecasting Demand
Prepared by:
MATT YSRAEL P. VICEDO
Today's learning
outcomes
Understand and explain the following:
01 Components of a
Modern Marketing
02 Internal Records
Components of a Modern Marketing
Information
Every firm must
organize and
distribute a
continuous flow of
information to its
marketing managers.
A marketing
information system
(MIS) consists of:
PEOPLE EQUIPMENT PROCEDURES
Internal Records
01 The Order-to-Payment
Cycle
02 Sales Information System
03 Databases, Data
Warehousing, and Data
Mining
Marketing Intelligence
The Marketing Intelligence System
It is a set of procedures and sources that
managers use to obtain everyday
information about developments in the
marketing environment. The internal records
system supplies results data, but the
marketing intelligence system supplies
happenings data.
Marketing managers collect marketing intelligence in a variety of
different ways:
READING TALKING TO MONITORING
BOOKS CUSTOMERS SOCIAL MEDIA
8 possible actions to improve the quantity and
quality of marketing intelligence:
Train and motivate the sales force 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.
8 possible actions to improve the quantity and
quality of marketiną intelliąence:
Set up a customer advisory panel.
Take advantage of government-related
data resources.
Purchase information from outside
research firms and vendors.
Collecting marketing intelligence on the
Internet.
ANALYZING THE MACRO ENVIRONMENT
Macro environment - condition that exists in the economy as a whole, rather than in a
particular sector or region.
Needs and Trends
Fad
Trend
Megatrend
Six major forces in
the broad
environment
FORECASTING
AND
DEMAND
MEASUREMENT
The Measures of Market Demand
There are many productive ways to break down the market:
Potential Market Available Market Target Market Penetrated Market
set of consumers set of consumers part of the qualified set of consumers
with a sufficient who have interest, available market the who are buying the
level of interest in income, and company decides to company’s
a market offer access to a pursue product
particular offer
01 Total Market Potential
A common way to estimate total market
potential is to multiply the potential number of
buyers by the average quantity each purchases
and then by the price
02 Area Market Potential
Because companies must allocate their
marketing budget optimally among their best
territories, they need to estimate the market
Estimating potential of different cities, states, and nations
Current 03 Industry Sales and Market Sales
A company needs to know the actual industry
Demands
Lorem ipsum dolor sit amet. sales taking place in its market. This means
identifying competitors and estimating their sales.
01 02
Estimating
Future
FORECASTING
COMPOSITE OF
SALES FORCE Demands
OPINIONS
03 04
PAST-SALES
EXPERT OPINION
ANALYSIS
THE MARKETING
RESEARCH SYSTEM
MARKETING It provides diagnostic information about
INSIGHTS
how and why we observe certain effects
in the marketplace, and what that means
to marketers. Good marketing insights
often form the basis of successful
marketing programs.
MARKETING RESEARCH
defined as the systematic design, collection,
analysis, and reporting of data and
fi nd i n g s r e l e v a n t t o a s p e c i f i c m a r k e t i n g
situation facing the company.
Marketing research, however, is not limited to large companies with big
budgets. Small companies can also hire the services of a marketing research firm or
conduct research in creative and affordable ways, such as:
Engaging students Using the internet
Checking out
or professors to Tapping into
rivals
design and carry marketing
out projects partners expertise
The Marketing Research Process
Define the Problem, the
01
Decision Alternatives, and
the Research Objectives
02 Develop the Research Plan
To design a research plan, we
need to make decisions about
the data sources, research
approaches, research
instruments, sampling plan,
and contact methods.
• Data Sources
• Research Approaches
A Observational Research D Behavioral Research
B Focus Group Research E Experimental Research
C Survey Research
• Contact Methods
01 02 Sampling 01
Plan
QUALITATIVE
QUESTIONNAIRE RESEARCH SAMPLING UNIT
03 Research 03 02
Instruments
TECHNOLOGICAL SAMPLING
DEVICES SAMPLE SIZE
PROCEDURE
The Marketing Research Process
03 Collect the Information
04 Analyze the Information
05 Present the Findings
06 Make the Decision
MEASURING MARKETING PRODUCTIVITY
Two complementary approaches:
Marketing metrics to assess
marketing effects
Marketing mix modeling to
estimate causal relationships and
measure howmarketing
activity affects outcomes
Thank
You!
