A FRAMEWORK for Chapter Questions MARKETING MANAGEMENT

[Pages:5]A FRAMEWORK for MARKETING MANAGEMENT

Chapter 3

Understanding Markets, Market Demand,

and the Marketing Environment

Kotler

Keller

Chapter Questions

? What are the components of a modern marketing information system?

? How can marketers improve marketing decisions through intelligence systems and marketing research?

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Chapter Questions

? How can demand be more accurately measured and forecasted?

? What are some key macroenvironmental developments that marketers must understand?

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Marketing Information System

A marketing information system (MIS) consists of

people, equipment, and processes to gather, sort, analyze, evaluate, and distribute

needed, timely, and accurate information to marketing decision makers

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MIS Resources

? Internal company records ? Marketing intelligence ? Marketing research

Internal Records

? Order-to-payment cycle ? Sales information system ? Databases and warehouses ? Data mining

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Improving the Quality of Marketing Intelligence

? Train sales force to scan for new development

? Motivate channel members to share intelligence

? Network internally ? Establish a customer advisory panel ? Utilize government data resources ? Purchase information ? Collect customer feedback online

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Marketing Research Defined

Systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing a company

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The Marketing Research Process

? Define the problem ? Develop research plan ? Collect information ? Analyze information ? Present findings ? Make decision

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Step 1

? Define the problem ? Specify decision alternatives ? State research objectives

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Step 2

? Identify data sources ? Design research approach ? Develop research instruments ? Design sampling plan ? Select contact methods

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Data Sources

? Secondary data

? Primary data

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Research Approaches

? Observation ? Focus group ? Survey research ? Behavioral data ? Experimentation

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Research Instruments

? Questionnaires ? Qualitative research techniques ? Mechanical devices

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Sampling Plan

? Sampling unit: Who is to be surveyed? ? Sample size: How many people should be

surveyed? ? Sampling procedure: How should the

respondents be chosen?

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Contact Methods

? Mail questionnaire ? Telephone interview ? Personal interview ? Online interview

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Forecasting and Demand Measurement

? Which market to measure? ? Potential market ? Available market ? Target market ? Penetrated market

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Company Demand and Sales Forecast

? Company demand is the company's estimated share of market demand at alternative levels of company marketing effort in a given time

? Company sales forecast is the expected level of company sales based on a chosen marketing plan and an assumed marketing environment

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Estimating Current Demand

? Total market potential is the maximum number of sales that might be available to all of the firms in an industry during a given period, under a given level of industry marketing effort and environmental conditions

? Area market potential is the market potential of a specific location: ? Market buildup method ? Multiple-factor index method

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Estimating Future Demand

? Survey of buyers' intentions ? Composite of sales force opinions ? Expert opinion ? Past-sales analysis ? Market-test method

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Environmental Forces

? Demographic ? Economic ? Political-legal ? Natural ? Social-cultural ? Technological

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Population and Demographics

? Worldwide population growth

? Population age mix

? Ethnic markets

? Educational groups

? Household patterns

? Geographic shifts in population

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Population Age Groups

? Preschool ? School-age ? Teens ? 25-40 ? 40-65 ? 65 +

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Economic Environment

? Income distribution ? Savings, debt, and credit availability ? Outsourcing and free trade

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Types of Industrial Structures

? Industrial economies ? Industrializing economies ? Raw-material exporting economies ? Subsistence economies

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Social-Cultural Environment

? Views of themselves ? Views of others ? Views of organizations ? Views of society ? Views of nature ? Views of the universe

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Natural Environment

? Shortage of raw materials ? Increased energy costs ? Anti-pollution pressures ? Governmental protections

Technological Environment

? Pace of change ? Opportunities for innovation ? Varying R&D budgets ? Increased regulation of change

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Political-Legal Environment

? Increase in business legislation ? Growth of special interest groups

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