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Conducting Marketing Research and Forecasting Demand
Chapter 4Phillip Kotler & Kevin Lane Keller
Prepared for:Universitas Ciputra
Marketing Research
is a systematic design collection, analysis and reporting of data and finding relevant to a specific marketing situation facing the company
Suppliers of Marketing Research
Engaging Students or Professors to design and
carry out projects
Using the internet
Checking out rivals
Research Firms:
Syndicated-service research firms
Custom marketing research firms
Specialty-line marketing research firms
Marketing Research Process
1. Define the Problem & Research Objectives
Neither too broad nor too narrow
Three types of Objectives:
Exploratory Research
Descriptive Research
Causal Research
2. Develop Research Plan [1]
2. Develop Research Plan [2]
3. Collect the info
The need to achieve consistency
Cross-cultural research; the need
to use different approaches
Bias
4. Analyze the Info Test different hypotheses & theories Applying sensitivity analysis
5. Present Findings• Relevant to the need
6. Make the Decision
The next processes
Overcoming the Barriers to the Use of Marketing Research
A narrow conception of the research
Uneven caliber of the researcher
Poor framing of the problem
Late and occasionally erroneous findings
Personality and presentational difference
Measuring Marketing Productivity
Marketing Metric
Measuring Marketing Plan Performance
Profitability Analysis
Marketing Mix Modeling
Marketing Metric
The set of measures that help firm to quantify, compare and interpret their marketing performance (asses marketing effect)
1.Short-term result; eg. profit & loss, sales turnover, etc.
2.Changes brand equity; eg. customer awareness, attitude, behavior, marketing
share, etc.
External Internal Awareness of goal Commitment to goal Active innovation support Resources adequacy Staffing/skill level Desire to learn Willingness to change Freedom to fail Autonomy Relative employee
satisfaction
Sample of Marketing Metric
Awareness Market share (volume or
value) Relative price (volume or
value) Number of complaints (level of
dissatisfaction) Customer satisfaction Distribution/availability Total number of customers Perceived quality/esteem Loyalty/retention Relative/perceived quality
Measuring Marketing Plan Performance
Profitability Analysis
Forecasting & Demand Measurement
Measures Market Demand
Vocabulary for Demand Measurement
Estimating Current Demand
Estimating Future Demand
The Measures of Market Demand
Which Market to Measure?
Market: Actual Buyer + Potential Potential Market: Interest Available Market: Interest, Income, Access Target Market (served = target market) Penetrated Market (who are buying the
company’s product)
Estimating Future DemandThree stages Procedure:
Survey of Buyer’s Intentions
Forecasting: the art of anticipating what buyers are likely to do under a given set of condition
Composite of sales force opinion Expert opinion (Group Discussion Method; Pooling of
Individual Estimates)
Past Sales Analysis (Time-Series Analysis; Exponential Smoothing; Statistical Demand Analysis; Econometric Analysis)
Market Test Method
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