Ch 04 conducting marketing research and demand forecast
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The document discusses marketing research and demand forecasting. It defines marketing research as a systematic process of problem analysis, model building, and fact-finding to improve decision-making for goods and services. The marketing research process involves defining a problem, developing a research plan, collecting and analyzing information, presenting findings, and making a decision. Demand forecasting predicts future product sales using a multi-functional approach considering inputs from different business functions. Examples discuss how Procter & Gamble uses marketing research and demand forecasting techniques like consumer panels and retail measurement to understand consumer behavior and forecast demand.
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Ch 04 conducting marketing research and demand forecast
- 1. Hannah Rhuelle B. Abellera Ateneo Graduate School of Business www.hannahabellera.blogspot.com
- 3. Marketing research is a systematic problem analysis, model building and fact-finding for the purpose of improved decision-making and control in the marketing of goods n and services. Concept 1 What is Marketing Research? www.hannahabellera.blogspot.com
- 6. Concept 2 The Marketing Research Process 1. Define Problem 2. Develop Research Plan 3. Collect Information 4. Analyze Information 5. Present Findings 6. Make a Decision www.hannahabellera.blogspot.com
- 7. Example2 Problem • How will P&G understand the buying behavior of its consumers? How to meet the desires/need of the consumers? Research plan • Focus group • Shop with consumers • Interview in the homes of consumers • Selecting partners for marketing research, Nielsen company • Collection of marketing research information from website P&G interprets data and strategizes www.pampers.com , www.pampers.ph/ www.hannahabellera.blogspot.com
- 8. Concept 3 Qualitative Measures Word Association Projective Techniques Visualization Brand Personification Laddering www.hannahabellera.blogspot.com
- 9. Word Association Example3 Diaper Soft drinks Detergent bar Fabric conditioner Sanitary napkin Toothpaste Refrigerator www.hannahabellera.blogspot.com
- 10. Scientific Method Research Creativity Multiple Methods Interdependence Value and Cost of Information Healthy Skepticism Ethical Marketing Concept 4 Characteristics of Good Marketing Research www.hannahabellera.blogspot.com
- 11. Example4 “Know Your Shopper, Grow Your Revenue” How they do it? Consumer Panels and Retail Measurement - Nielsen Consumer Panels - Point-of-Sale (POS) Technology Advanced Analytics - Nielsen Catalina Solutions www.hannahabellera.blogspot.com
- 12. A demand is an economic principle that describes a consumer's desire and willingness to pay a price for a specific good or service. www.investopedia.com Concept 5 What is Demand? www.hannahabellera.blogspot.com
- 13. Potential Market Available Market Target Market Penetrated Market Measures of Market Demands www.hannahabellera.blogspot.com
- 14. Demand of P&G Products Example5 High or Low demand of products? P&G has the largest lineup of leading brands in industry Over 20 brands reaching over $1 billion in annual sales Another 20 brands generating around $500 million or more in annual sales www.hannahabellera.blogspot.com
- 15. • Prediction of what will happen to your company's existing product sales • Uses a multi-functional approach • Consider inputs from sales and marketing, finance, and production should be considered • Final demand forecast is the consensus of all participating managers http://www.smetoolkit.org/smetoolkit/en/content/en/416/Demand-Forecasting#sthash.jm67bOrA.dpuf Concept 6 Forecasting Demand www.hannahabellera.blogspot.com
- 16. Example6 has deployed Terra’s Demand Sensing to roughly 75% of its global business • Multi-Enterprise Demand Sensing • Inventory Optimization • Transportation Forecasting www.hannahabellera.blogspot.com
- 17. Remember This… “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself". -Peter Drucker- www.hannahabellera.blogspot.com
- 19. Hannah Rhuelle B. Abellera Ateneo Graduate School of Business www.hannahabellera.blogspot.com