Approaches OF Marketing

1. MARKETING
MANAGEMENT
SUBMITTED TO: SIR ANWAR ZAIB KHAN

2. PRESENTED BY:
MUZAMIL SHAHROZ
(F15-1234)

3. Forecasting approaches
Top down or break down
approach
Multiple-factor index method
Market-factor Index Method- It is a
forecasting method that identifies market factors
that correlate with market potential and combines
them into a weighted index.

4. MULTIPLE-FACTOR INDEX
METHOD:
used primarily by consumer marketers to estimate
area market potential.
 E.g. a drug manufacturer wants to find out area
potential for its new drug in Sindh.

5. STAGES IN NEW PRODUCT
DEVELOPMENT
IDEAS GENERATION
IDEA SCREENING
CONCEPT DEVELOPMENT AND
TESTING
MARKETING STRATEGY
BUISNESS ANALYSIS
MARKET TESTING
PRODUCT DEVELOPEMENT

6. MARKET TESTING
• This is the stage where the
product has to be
tried out in selected market
segments.
• Market test is basically done as a
risk control
tool.
• It is experimental marketing at
minimum cost

7. TYPES OF MARKET TESTING
• SALES WAVE RESEARCH
• SIMULATED TEST MARKETING
• CONTROLLED TEST
MARKETING
• TEST MARKETS

8. SALES WAVE MARKET TEST
New product is placed into the
hands of
customers, free of cost.
Reoffer the product or the
competitors
product as many as three to four
times( sales
wave)

9. SIMULATED TEST MARKETING
• STM’s ,involve mathematical
estimates of the
market share based on initial
consumer
reaction to the new product

10. CONTROLLED TEST
MARKETING
• Research firm manages the
panel of stores
that will carry a product for a
fee.

11. TEST MARKETS
• The company chooses the few representative
cities and the sales force tries to sell the
product and give it a good shelf exposure.
• Here the research firm consider following
factors:-
1. Number of test cities
2. Decision of selecting cities
3. Length of test
4. Kind of information/Feedback
5. Mode of action.