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
www.linkedin.com/in/maria-rica-baltazar

OUTLINE:
1. Importance of Collecting Information ?
2. What is a Marketing Information System (MIS) and its components ?
a.. Internal Records
b. Marketing Intelligence System
3. Analyzing the Macroenvironment
4. Local Applications
FORECASTING DEMAND

1.WhyisCollecting informationimportant?
Making marketing decisions in a fast-changing world is
both an art and a science
Marketing environment present new opportunities
and threats
Need for continuous monitoring, forecasting and adapting to
environment
Firms must organize and distribute continuous flow of information to its
managers

2.WhatisMarketingInformationSystem(MIS)?
Marketing Information System (MIS) consist of people,
equipment and procedures
Gather, sort, analyze, evaluate and distribute information
Sources: internal company records
marketing intelligence activities
marketing research
Use by marketing decision makers
Produce timely and accurate information

OUTLINE:
a. Internal Records
4. Local Applications
FORECASTING DEMAND

3A.WhataretheocmponentsofMIS?InternalCompany Records
Companies used to spot opportunities and
potential problems
• ORDER-TO-PAYMENT CYCLE
- HEART of the
internal records
system
MARKETING MANAGERS rely on internal report of orders, sales,
prices, costs, receivables and payables

3A.WhataretheocmponentsofMIS?InternalCompany Records
• SALES INFORMATION SYSTEMS
- Managers need timely and
accurate reports on sales
• DATABASES
• DATA WAREHOUSING
• DATA MINING
Companies used to spot opportunities and
potential problems

3B.WhataretheocmponentsofMIS?Marketing Intelligence System
Marketing intelligence system supplies
happenings data
Set of procedures and sources for everyday information about
development in marketing environment
Managers collect marketing intelligence through:
• books, newspapers, trade publication
• talking to customers, suppliers and distributors, company
managers
• Monitoring social media

3B.WhataretheocmponentsofMIS?MarketingIntelligenceSystem
Eight possible actions to improve quality and
quantity of its marketing intelligence
1. Train and motivate sales force – spot and report new
developments
2. Motivate people – distributors, retailers, other intermediaries
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

3B.WhataretheocmponentsofMIS?MarketingIntelligenceSystem
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

3.AnalyzingtheMacroenvironment
Enterprising individuals create new solutions
to similarly unmeet needs
FAD – unpredictable, short-lived, and without social, economic and
political significance
TREND – more predictable and durable than a fad
- reveal the shape of the future and provide stratefig direction
MEGATREND – a “large social, economic, political and technological
change
- slow to form and once in placec, influences us for some time
(7-10 yrs or longer)

3.AnalyzingtheMacroenvironment
Firms must monitor six major forces in broad
environment
1. Demographic
2. Economic
3. Social-cultural
4. Natural
5. Technological
6. Political legal

OUTLINE:
a.. Internal Records
4. Local Application
FORECASTING DEMAND

4.Local Application: InternalRecord
• 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: MarketingIntelligenceSystem
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
• Allow healthcare providers to adapt to current needs of
healthcare service delivery
• Provides training for healthcare workers

4.Local Application: AnalysisofMacroenvironment
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

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