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CONDUCTING MARKETING RESEARCH AND FORECASTING DEMAND<br />RIO B. ABRENICA, DMD, MD, FPSO-HNS<br />MBAH Batch 8<br />May 7,...
OUTLINE<br />10 CONCEPTS<br />Marketing<br />Research<br />Defining<br />1<br />2<br />Marketing<br />Research<br />Charac...
OUTLINE<br />10 CONCEPTS<br />Research<br />Barriers <br />4<br />Marketing<br />5<br />Measuring<br />Marketing<br />6<br...
OUTLINE<br />10 CONCEPTS<br />7<br />Market<br />Demand <br />8<br />Company<br />Demand <br />9<br />Estimating<br />Curr...
1. DEFINING MARKETING RESEARCH<br />Marketing Research is the <br />   Systematic design, Collection,           Analysis, ...
1. DEFINING MARKETING RESEARCH<br />Marketing Research produces insight of <br />customer’s attitudes and buying behavior<...
2. CHARACTERISTICS OF MARKETING RESEARCH<br />The Seven Characteristics of <br />Good Marketing Research.<br />Creative,<b...
3. MARKETING RESEARCH PROCESS<br />Effective Marketing Research follows 6 steps.<br />4<br />1<br />5<br />Analyze<br />th...
3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br /...
3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br /...
3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br /...
3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br /...
3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br /...
3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br /...
3. MARKETING RESEARCH PROCESS<br />Choose the Most Efficient way of Gathering the needed Information.<br />2<br />Develop<...
3. MARKETING RESEARCH PROCESS<br />Source of data can be <br /> Primary or Secondary.<br />2<br />Develop<br />the Researc...
3. MARKETING RESEARCH PROCESS<br />Source of data can be <br /> Primary or Secondary.<br />2<br />Develop<br />the Researc...
3. MARKETING RESEARCH PROCESS<br />Research approaches can be varied.<br />2<br />Develop<br />the Research<br />Plan<br /...
3. MARKETING RESEARCH PROCESS<br />Choose appropriate Research Instrument.<br />2<br />Develop<br />the Research<br />Plan...
3. MARKETING RESEARCH PROCESS<br />2<br />Formulate a Sampling Plan.<br />Develop<br />the Research<br />Plan<br />Who is ...
3. MARKETING RESEARCH PROCESS<br />There are various methods of contacting respondents.<br />2<br />Develop<br />the Resea...
3. MARKETING RESEARCH PROCESS<br />Collection of data is limited by cost and the quality of selected respondents.<br />3<b...
2. MARKETING RESEARCH PROCESS<br />ANALYZE DATA BY STATISTICS and CENTRAL TENDENCIES.<br />4<br />Analyze<br />the<br />In...
3. MARKETING RESEARCH PROCESS<br />5<br />PRESENT THE RELEVANT DATA ONLY.<br />Present<br />the<br />Findings<br />rioabre...
3. MARKETING RESEARCH PROCESS<br />MAKE A DECISION BY WEIGHING the EVIDENCE and your CONFIDENCE in the FINDINGS.<br />6<br...
4. MARKETING RESEARCH BARRIERS<br />Reasons for Marketing Research Failure.<br />LATE<br />And<br />ERRONEOUS<br />FINDING...
5. MEASURING MARKETING PRODUCTIVITY<br />Assess the efficiency and effectiveness of Marketing Research.<br />Customer- Per...
5. MEASURING MARKETING PRODUCTIVITY<br />Marketing Metrics quantifies, compare and interpret marketing performance.<br />P...
5. MEASURING MARKETING PRODUCTIVITY<br />Marketing-Mix Modellinganalyzes data from sources to understand effects of market...
5. MEASURING MARKETING PRODUCTIVITY<br />Marketing Dashboard synthesizes the metrics for interpretation.<br />Stakeholder-...
5. MEASURING MARKETING PRODUCTIVITY<br />Assess the efficiency and effectiveness of Marketing Research.<br />Customer- Per...
6. TYPES OF MARKET <br />Breaking down market types.<br />rioabrenica@blogspot.com<br />
6. TYPES OF MARKET <br />POTENTIAL MARKET –Consumers who profess a sufficient level of interest in a market offer.<br />ri...
6. TYPES OF MARKET <br />AVAILABLE MARKET –Consumers who have interest, income, and access to a particular offer.<br />rio...
6. TYPES OF MARKET <br />TARGET MARKET – Part of the qualified available market the company decides to pursue.<br />rioabr...
6. TYPES OF MARKET <br />PENETRATED MARKET –Consumers who are buying the company’s product.<br />rioabrenica@blogspot.com<...
7. MARKET DEMAND<br />MARKET DEMAND - Total volume that would be<br /> bought by a defined customer group, in <br />a defi...
8. COMPANY DEMAND<br />COMPANY DEMAND is the company’s estimated share of the market demand in a given time period.<br />T...
9. ESTIMATING CURRENT DEMAND<br />Defining Total Market Potential.<br />TOTAL MARKET POTENTIAL – Maximum amount of sales t...
9. ESTIMATING CURRENT DEMAND<br />Defining Area Market Potential.<br />AREA MARKET POTENTIAL – Market potential of differe...
10. ESTIMATING FUTURE DEMAND<br />What is Forecasting?<br />Forecasting is the art of anticipating what <br />buyers are l...
10. ESTIMATING FUTURE DEMAND<br />The 4 Information Bases for Forecasting.<br />rioabrenica@blogspot.com<br />
SUMMARY<br />10 CONCEPTS<br />1<br />Marketing<br />Research<br />as “SCAR”<br />2<br />Marketing<br />Research<br />“CHIM...
SUMMARY<br />10 CONCEPTS<br />Research<br />Barriers <br />4<br />Marketing<br />5<br />Measuring<br />Marketing<br />6<br...
SUMMARY<br />10 CONCEPTS<br />7<br />Market<br />Demand <br />8<br />Company<br />Demand <br />9<br />Estimating<br />Curr...
CONDUCTING MARKETING RESEARCH AND FORECASTING DEMAND<br />RIO B. ABRENICA, DMD, MD, FPSO-HNS<br />MBAH Batch 8<br />May 7,...
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V49rioabrenica Chapter 4

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Conducting Marketing Research and Forecasting Demand

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  1. 1. CONDUCTING MARKETING RESEARCH AND FORECASTING DEMAND<br />RIO B. ABRENICA, DMD, MD, FPSO-HNS<br />MBAH Batch 8<br />May 7, 2010<br />rioabrenica@blogspot.com<br />
  2. 2. OUTLINE<br />10 CONCEPTS<br />Marketing<br />Research<br />Defining<br />1<br />2<br />Marketing<br />Research<br />Characteristics of<br />3<br />Marketing<br />Research<br />Process<br />rioabrenica@blogspot.com<br />
  3. 3. OUTLINE<br />10 CONCEPTS<br />Research<br />Barriers <br />4<br />Marketing<br />5<br />Measuring<br />Marketing<br />6<br />Types of<br />Market<br />rioabrenica@blogspot.com<br />
  4. 4. OUTLINE<br />10 CONCEPTS<br />7<br />Market<br />Demand <br />8<br />Company<br />Demand <br />9<br />Estimating<br />Current<br />Demand <br />10<br />Future<br />Demand <br />Estimating<br />rioabrenica@blogspot.com<br />
  5. 5. 1. DEFINING MARKETING RESEARCH<br />Marketing Research is the <br /> Systematic design, Collection, Analysis, <br />and<br />Reporting of data and findings<br />relevant to a specific marketing situation <br />facing a company.<br />rioabrenica@blogspot.com<br />
  6. 6. 1. DEFINING MARKETING RESEARCH<br />Marketing Research produces insight of <br />customer’s attitudes and buying behavior<br />HOW?<br />WHY?<br />rioabrenica@blogspot.com<br />
  7. 7. 2. CHARACTERISTICS OF MARKETING RESEARCH<br />The Seven Characteristics of <br />Good Marketing Research.<br />Creative,<br />Healthily skeptic,<br />Interdependent models and data<br />Multiple in methodology, <br />Ethical,<br />Clear in Value and Cost of Information, <br />Scientific<br />rioabrenica@blogspot.com<br />
  8. 8. 3. MARKETING RESEARCH PROCESS<br />Effective Marketing Research follows 6 steps.<br />4<br />1<br />5<br />Analyze<br />the<br />Information<br />Present the Findings<br />2<br />6<br />3<br />Make the Decision<br />Collect the Information<br />rioabrenica@blogspot.com<br />
  9. 9. 3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br />KOTLER:<br />“Find out everything about first class air travelers’ needs.”<br />rioabrenica@blogspot.com<br />
  10. 10. 3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br />KOTLER:<br />“Find out if enough passengers<br />aboard a B747 flying direct between<br />Chicago and Tokyo would be willing to <br />Pay $25 for an internet connection<br />for AA to break even in one<br />year on the cost of offering<br />the service.”<br />rioabrenica@blogspot.com<br />
  11. 11. 3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br />KOTLER:<br />“Will offering an in-flight internet service<br />create enough incremental preference<br />and enough profit for AA to justify<br />its cost against other possible<br />investments AA might make?”<br />rioabrenica@blogspot.com<br />
  12. 12. 3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br />Medical:<br />“To find out everything about patients going to the hospital.”<br />rioabrenica@blogspot.com<br />
  13. 13. 3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br />Medical:<br />“To find out if patients going to <br />the hospital are willing to pay extra <br />P100.00 for an air-conditioned <br />waiting area.”<br />rioabrenica@blogspot.com<br />
  14. 14. 3. MARKETING RESEARCH PROCESS<br />The Marketing Problem and Objective should Not be too BROAD, or too NARROW.<br />1<br />Medical:<br />“Will making the waiting area air- conditioned bring more patients to the hospital to justify its cost?”<br />rioabrenica@blogspot.com<br />
  15. 15. 3. MARKETING RESEARCH PROCESS<br />Choose the Most Efficient way of Gathering the needed Information.<br />2<br />Develop<br />the Research<br />Plan<br />rioabrenica@blogspot.com<br />
  16. 16. 3. MARKETING RESEARCH PROCESS<br />Source of data can be <br /> Primary or Secondary.<br />2<br />Develop<br />the Research<br />Plan<br />Data freshly gathered<br />for the specific research.<br />Data previously gathered<br />for another purpose.<br />rioabrenica@blogspot.com<br />
  17. 17. 3. MARKETING RESEARCH PROCESS<br />Source of data can be <br /> Primary or Secondary.<br />2<br />Develop<br />the Research<br />Plan<br />Kotler:Auto advertisers buying “Online Media Study” <br />Local: Local resort owners looking at data collected by local hotels on its customers<br />Medical: Hospital Marketing Group looking into the DOH’s top causes of morbidities and mortalities in their area.<br />rioabrenica@blogspot.com<br />
  18. 18. 3. MARKETING RESEARCH PROCESS<br />Research approaches can be varied.<br />2<br />Develop<br />the Research<br />Plan<br />rioabrenica@blogspot.com<br />
  19. 19. 3. MARKETING RESEARCH PROCESS<br />Choose appropriate Research Instrument.<br />2<br />Develop<br />the Research<br />Plan<br />rioabrenica@blogspot.com<br />
  20. 20. 3. MARKETING RESEARCH PROCESS<br />2<br />Formulate a Sampling Plan.<br />Develop<br />the Research<br />Plan<br />Who is to be surveyed?<br />How many people should be surveyed?<br />How should the respondents be chosen?<br />rioabrenica@blogspot.com<br />
  21. 21. 3. MARKETING RESEARCH PROCESS<br />There are various methods of contacting respondents.<br />2<br />Develop<br />the Research<br />Plan<br />rioabrenica@blogspot.com<br />
  22. 22. 3. MARKETING RESEARCH PROCESS<br />Collection of data is limited by cost and the quality of selected respondents.<br />3<br />Collect<br />the<br />Information<br />PRONE to ERRORS<br />BIASED ANSWERS<br />TOO EXPENSIVE<br />UNCOOPERATIVE RESPONDENTS<br />rioabrenica@blogspot.com<br />
  23. 23. 2. MARKETING RESEARCH PROCESS<br />ANALYZE DATA BY STATISTICS and CENTRAL TENDENCIES.<br />4<br />Analyze<br />the<br />Information<br />rioabrenica@blogspot.com<br />
  24. 24. 3. MARKETING RESEARCH PROCESS<br />5<br />PRESENT THE RELEVANT DATA ONLY.<br />Present<br />the<br />Findings<br />rioabrenica@blogspot.com<br />
  25. 25. 3. MARKETING RESEARCH PROCESS<br />MAKE A DECISION BY WEIGHING the EVIDENCE and your CONFIDENCE in the FINDINGS.<br />6<br />Make<br />The<br />Decision<br />PROFITABILITY<br />SOCIAL IMPACT<br />COST<br />FEASIBILITY<br />rioabrenica@blogspot.com<br />
  26. 26. 4. MARKETING RESEARCH BARRIERS<br />Reasons for Marketing Research Failure.<br />LATE<br />And<br />ERRONEOUS<br />FINDINGS<br />PERSONALITY<br />And<br />PRESENTATIONAL<br />DIFFERENCES<br />NARROW<br />RESEARCH<br />CONCEPT<br />POOR<br />RESEARCH<br />PERSONNEL<br />POOR<br />PROBLEM<br />DEFINITION<br />rioabrenica@blogspot.com<br />
  27. 27. 5. MEASURING MARKETING PRODUCTIVITY<br />Assess the efficiency and effectiveness of Marketing Research.<br />Customer- Performance scorecard<br />Stakeholder- Performance scorecard<br />Marketing<br />Dashboard<br />rioabrenica@blogspot.com<br />
  28. 28. 5. MEASURING MARKETING PRODUCTIVITY<br />Marketing Metrics quantifies, compare and interpret marketing performance.<br />PROFIT or LOSS?<br />Marketing<br />Metrics<br />Short Term Results<br />Brand Equity<br />rioabrenica@blogspot.com<br />
  29. 29. 5. MEASURING MARKETING PRODUCTIVITY<br />Marketing-Mix Modellinganalyzes data from sources to understand effects of marketing performance.<br />rioabrenica@blogspot.com<br />
  30. 30. 5. MEASURING MARKETING PRODUCTIVITY<br />Marketing Dashboard synthesizes the metrics for interpretation.<br />Stakeholder- Performance scorecard<br />Customer- Performance scorecard<br />Marketing<br />Dashboard<br />rioabrenica@blogspot.com<br />
  31. 31. 5. MEASURING MARKETING PRODUCTIVITY<br />Assess the efficiency and effectiveness of Marketing Research.<br />Customer- Performance scorecard<br />Stakeholder- Performance scorecard<br />Marketing<br />Dashboard<br />rioabrenica@blogspot.com<br />
  32. 32. 6. TYPES OF MARKET <br />Breaking down market types.<br />rioabrenica@blogspot.com<br />
  33. 33. 6. TYPES OF MARKET <br />POTENTIAL MARKET –Consumers who profess a sufficient level of interest in a market offer.<br />rioabrenica@blogspot.com<br />
  34. 34. 6. TYPES OF MARKET <br />AVAILABLE MARKET –Consumers who have interest, income, and access to a particular offer.<br />rioabrenica@blogspot.com<br />
  35. 35. 6. TYPES OF MARKET <br />TARGET MARKET – Part of the qualified available market the company decides to pursue.<br />rioabrenica@blogspot.com<br />
  36. 36. 6. TYPES OF MARKET <br />PENETRATED MARKET –Consumers who are buying the company’s product.<br />rioabrenica@blogspot.com<br />
  37. 37. 7. MARKET DEMAND<br />MARKET DEMAND - Total volume that would be<br /> bought by a defined customer group, in <br />a defined area, in a defined time, <br />in a defined marketing environment, under a <br />defined marketing program.<br />Marketi<br /> Potential<br />Market<br />Demand<br />Market<br /> Minimum<br />Marketing Expenditure<br />rioabrenica@blogspot.com<br />
  38. 38. 8. COMPANY DEMAND<br />COMPANY DEMAND is the company’s estimated share of the market demand in a given time period.<br />TMC<br />SLMC<br />MMC<br />AHMC<br />Company Sales Forecast<br />SALES POTENTIAL<br />QUOTA<br />SALES BUDGET<br />rioabrenica@blogspot.com<br />
  39. 39. 9. ESTIMATING CURRENT DEMAND<br />Defining Total Market Potential.<br />TOTAL MARKET POTENTIAL – Maximum amount of sales that might be available to all the <br />firms in the industry during a given <br />period, under a given level of marketing<br /> effort and environmental conditions.<br />Potential Number of Buyers <br />X <br /> Average quantity/buyer <br />X <br />Price<br />rioabrenica@blogspot.com<br />
  40. 40. 9. ESTIMATING CURRENT DEMAND<br />Defining Area Market Potential.<br />AREA MARKET POTENTIAL – Market potential of different geographical clusters. (cities, regions, province)<br />Multiple-Factor Index<br />“factors and weights”<br />Market-Build Up<br />“potential buyers”<br />rioabrenica@blogspot.com<br />
  41. 41. 10. ESTIMATING FUTURE DEMAND<br />What is Forecasting?<br />Forecasting is the art of anticipating what <br />buyers are likely to under a given <br />set of conditions.<br />What do people say?<br />What people do?<br />What people have done?<br />rioabrenica@blogspot.com<br />
  42. 42. 10. ESTIMATING FUTURE DEMAND<br />The 4 Information Bases for Forecasting.<br />rioabrenica@blogspot.com<br />
  43. 43. SUMMARY<br />10 CONCEPTS<br />1<br />Marketing<br />Research<br />as “SCAR”<br />2<br />Marketing<br />Research<br />“CHIMECS” of<br />3<br />Marketing<br />Research<br />Process<br />rioabrenica@blogspot.com<br />
  44. 44. SUMMARY<br />10 CONCEPTS<br />Research<br />Barriers <br />4<br />Marketing<br />5<br />Measuring<br />Marketing<br />6<br />Types of<br />Market<br />rioabrenica@blogspot.com<br />
  45. 45. SUMMARY<br />10 CONCEPTS<br />7<br />Market<br />Demand <br />8<br />Company<br />Demand <br />9<br />Estimating<br />Current<br />Demand <br />10<br />Future<br />Demand <br />Estimating<br />rioabrenica@blogspot.com<br />
  46. 46. CONDUCTING MARKETING RESEARCH AND FORECASTING DEMAND<br />RIO B. ABRENICA, DMD, MD, FPSO-HNS<br />MBAH Batch 8<br />May 7, 2010<br />rioabrenica@blogspot.com<br />

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