4-1 MARKETING MANAGEMENT Conducting Marketing Research and Forecasting Demand.

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Presentation transcript:

4-1 MARKETING MANAGEMENT Conducting Marketing Research and Forecasting Demand

4-2 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

4-4 Market Demand Functions

4-5 Market Demand Functions

4-6 Product Penetration Percentage

4-7 Estimating Future Demand Survey of Buyers’ Intentions Composite of Sales Force Opinions Expert Opinion Past-Sales Analysis Market-Test Method

4-8 Activity 1.What does Fisher-Price need to know? 2.How should they find that out? (What type of research)? 3.What should they observe, ask, or measure?