3-1 MARKETING MANAGEMENT Understanding Markets, Demand, and the Environment.

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Presentation transcript:

3-1 MARKETING MANAGEMENT Understanding Markets, Demand, and the Environment

3-2 Chapter Questions What are useful intelligence systems? How can demand be forecasted and measured? What are some important macro- environmental forces?

3-3 Internal Data Sources Marketing Research Commercial Data Sources Marketing Intelligence Sales Information

3-4 Secondary Commercial Data Sources A.C. Nielsen NDP Group Ipsos-Reid Dun & Bradstreet’s Simmons SAMI/Burke

4-5 The Marketing Research Process Define the problem Develop research plan Collect information Analyze information Present findings Make decision

Need estimates of prevalence? Objective answers by asking? Yes No Yes SURVEY Good Poor EXPLORATORY or SECONDARY RESEARCH OBSERVATIONAL RESEARCH FOCUS GROUPS No Research Flowchart Understanding of problem

4-7 Market Demand Functions

4-8 Market Demand Functions

4-9 Estimating Future Demand Survey of Buyers’ Intentions Composite of Sales Force Opinions Expert Opinion Past-Sales Analysis Market-Test Method

3-10 Environmental Forces Demographic Social-CulturalEconomic NaturalTechnological Political-Legal

3-11 Mattel Markets in China

3-12 Age versus Cohort effects 1.Age differences – chronological 2.Cohort effects – when you were born

3-13 Age versus Cohort effects products/analytic/Multimedia.cfm?M=1http://www12.statcan.ca/english/census01/ products/analytic/Multimedia.cfm?M=1

3-14 Use Data in Marketing Plan What can these data sources tell you? Demand estimates Trends MARKETING PLAN: What can we learn about demand for the product or service? Explain it!

1-15 GROUP DISCUSSION: Toy business 1.What have been the key success factors for Toyland? 2.Where is Toyland vulnerable? 3.What should they watch out for? 4.What recommendation would you make to the owner going forward? 5.What should they be sure to do with their marketing?