Improved ch 04 conducting marketing research and demand forecast
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Marketing research is a systematic process used to understand consumer behavior and improve decision making. It involves defining a problem, developing a research plan, collecting information, analyzing the data, presenting findings, and making decisions. Common marketing research methods include surveys, focus groups, and analytics of consumer data. Understanding demand and forecasting future demand are important goals of marketing research. Procter & Gamble and other companies use various qualitative and quantitative research techniques to gain insights into customers and shape effective marketing strategies.
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Improved ch 04 conducting marketing research and demand forecast
- 1. Hannah Rhuelle B. Abellera Ateneo Graduate School of Business www.hannahabellera1.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.comwww.hannahabellera1.blogspot.com
- 5. Source: www.marketresearchworld.net www.hannahabellera.blogspot.comwww.hannahabellera1.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.comwww.hannahabellera1.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.comwww.hannahabellera1.blogspot.com
- 8. Concept 3 Qualitative Measures Word Association Projective Techniques Visualization Brand Personification Laddering www.hannahabellera.blogspot.comwww.hannahabellera1.blogspot.com
- 9. Word Association Example3 Diaper Soft drinks Detergent bar Fabric conditioner Sanitary napkin Toothpaste Refrigerator www.hannahabellera.blogspot.comwww.hannahabellera1.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.hannahabellera1.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.comwww.hannahabellera1.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.hannahabellera1.blogspot.com
- 13. Potential Market Available Market Target Market Penetrated Market Measures of Market Demands www.hannahabellera1.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.hannahabellera1.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.hannahabellera1.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.hannahabellera1.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.hannahabellera1.blogspot.com
- 18. How to know and understand the customers? Lets solve the puzzle! www.hannahabellera1.blogspot.com
- 19. Marketing Research Process 1. Define Problem 2. Develop Research Plan 3. Collect Information 4. Analyze Information 5. Present Findings 6. Make a Decision www.hannahabellera1.blogspot.com
- 20. 1. Problem 2. Plan 3. Collect information www.hannahabellera1.blogspot.com
- 21. Solved! 5. Present4. Analyze 6. Decision www.hannahabellera1.blogspot.com
- 22. How to know and understand the customers? Remember This… MRP www.hannahabellera1.blogspot.com
- 24. Hannah Rhuelle B. Abellera Ateneo Graduate School of Business www.hannahabellera1.blogspot.com