Ch 3 collecting information and forecasting demand by rica baltazar v88

Capturing Marketing Insights
COLLECTING INFORMATION AND
FORECASTING DEMAND
Maria Rica A. Baltazar, MD
Ateneo Graduate School of Business
V88MarketingManagement
Byte for Success
www.linkedin.com/in/maria-rica-baltazar

OUTLINE:
1. Importance of Collecting Information
2. Marketing Information System (MIS)
a. Internal Reporting System
b. Intelligence System
c. Research System
d. Decision Support System
3. Analyzing the Macroenvironment
4. Local Applications : Hospital ICT, CHITS, Local FAD and Trends
FORECASTING DEMAND

1.WhyisCollectinginformation important?
The art and science of making marketing decisions in a
fast-changing
New opportunities and threats in marketing environment
Continuous need for:
1. Monitoring
2. forecasting
3. adapting to environment
Organize and distribute continuous flow of information to managers
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2
3

fast-changing
1. Monitoring
2. forecasting
Organize / distribute continuous information flow to managers
1
2
3

fast-changing
1. Monitoring
2. forecasting
Organize / distribute continuous flow of information to
managers
3
2
1

OUTLINE:
b. Marketing Intelligence System
c. Marketing Research System
d. Marketing Decision Support System
4. Local Applications: Hospital ICT, CHITS, Local FAD and Trends
FORECASTING DEMAND

2.What isMarketing Information System(MIS)?
Marketing Information System (MIS) is more than a system of
data collection or set of information technologies
Set of
procedures/
methods
Generate,
analyze,
disseminate,
store
Regular,
continuous
basis

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Multiple features of Marketing Information System (MIS) to
attain a competitive edge and success
MARKETING
INFORMATION
SYSTEM

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08
MARKETING
INFORMATION
SYSTEM
Computer-Based System

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MARKETING
INFORMATION
SYSTEM
Quick, Selective, Accurate

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MARKETING
INFORMATION
SYSTEM Easy Accessibility

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MARKETING
INFORMATION
SYSTEM
Inter-related Components

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MARKETING
INFORMATION
SYSTEM
Future Oriented

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MARKETING
INFORMATION
SYSTEM
Supports Decision Making

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MARKETING
INFORMATION
SYSTEM
Consistent Information

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MARKETING
INFORMATION
SYSTEM
Applicable at All Levels of Management

MIS components used to integrate data collection, processing,
analysis and reporting activities
INTERNAL
REPORTING
SYSTEM
MARKETING
RESEARCH
SYSTEM
MARKETING
INTELLIGENCE
SYSTEM
MARKETING
DECISION
SUPPORT
SYSTEM

3A.WhataretheocmponentsofMIS?Internal Reporting System
Companies used to spot opportunities and
potential problems
MANAGERS rely on the following:
1. Internal report of orders
2. Sales
3. Prices
4. Costs
5. Receivables
6. Payables

potential problems
ORDER-TO-PAYMENT CYCLE
- HEART of the internal records system

potential problems
1. ORDER-TO-PAYMENT CYCLE
- HEART of the internal records system
2. SALES INFORMATION SYSTEMS
- Managers need timely and accurate reports on sales

3. DATABASES
potential problems

3. DATABASES
4. DATA WAREHOUSING
potential problems

3. DATABASES
4. DATA WAREHOUSING
5. DATA MINING
potential problems

3B.WhataretheocmponentsofMIS?Marketing Intelligence System
Marketing intelligence system supplies
happenings data
Set of procedures and sources on external marketing environment

3B.WhataretheocmponentsofMIS?Marketing Intelligence System
Marketing intelligence system supplies
happenings data
Set of procedures and sources on external marketing environment
Sources:

3B.WhataretheocmponentsofMIS?MarketingIntelligenceSystem
Eight possible actions to improve quality and
quantity of its marketing intelligence
1. Train and motivate sales force
2. Motivate people
3. Hire external experts to collect intelligence
4. Network internally and externally
5. Set up a customer advisory panel
6. Take advantage of government-related date resources
7. Purchase information from outside research firms and vendors

Special Attention to the 8th: Collecting
marketing intelligence on the Internet
Five places to find competitors’ product strengths and weaknesses online:
1. Independent customer goods and service review forum
2. Distributor or sales agent feedback sites
3. Combo sites offering customer reviews and expert opinions
4. Customer complaint sites
5. Public blogs
3B.WhataretheocmponentsofMIS?MarketingIntelligenceSystem

Marketing Research System is the most
powerful and independent component
Systematic design
Collects, analyzes and reports data
Uses primary and secondary data
3C.WhataretheocmponentsofMIS?MarketingResearchSystem

Marketing Decision Support System is helpful in
improvement of efficiency and utilization of MIS
Used for processing data:
1. Collection
2. Analysis
3. Interpretation
Make better decisions
3D.WhataretheocmponentsofMIS?MarketingDecisionSupportSystem

OUTLINE:
4. Local Applications : Hospital ICT, CHITS, Local FAD and Trends
COLLECTING INFORMATION

3.AnalyzingtheMacroenvironment
Enterprising individuals create new solutions
to similarly unmeet needs
FAD
unpredictable, short-
lived, without social,
economic and
political significance

FAD
economic and
political significance TREND
more predictable;
durable than a fad;
reveal the shape of
the future

FAD
economic and
political significance TREND
more predictable;
durable than a fad;
reveal the shape of
the future
MEGATREND
large social,
economic, political
and technological
change;
slow to form
influences for some
time

OUTLINE:

4.LocalApplication
• Used to tap into innovative technologies
• Reduce costs, improve efficiency and provide better experience
for patients
• Telemedicine, mobile apps for prescription delivery and online
forums
- addresses issues such as consultations, advice and patient
status
Major private hospitals in the Philippines adopted
electronic medical records and implement new
Information and Communication Technology (ICT)

4.Local Application:Marketing Intelligence System
Filipino start-up company, Pivotal Peak Digital
Health Solutions, Inc., leverages information
and communication technology for health to
address healthcare gaps
• Spin off company utilizing the community health information
tracking system (CHITS)
• Composed of researchers that focuses on generating innovations
• Adapt to current needs of healthcare service delivery

4.Local Application:
Being aware of the difference between FAD and TRENDS will
prepare a vision for the future or a long-term strategy
MILK TEA
KOREAN
DRAMAS
DIGITALIZATION
TREND

SUMMARY:

Ch 3 collecting information and forecasting demand by rica baltazar v88

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