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MS-CT-KK-C3 Collecting Information and forecasting demand (Analyzing the…
MS-CT-KK-C3 Collecting Information and forecasting demand
Components of a modern MKT information system
Advantage: 1) disciplined methods for collecting information; 2) time spent interacting with C and observing competitors and other outside group
Internal records
the order-to-payment cycle -- heart of internal records
sales information systems -- make use of cookie
database, data warehousing, data mining -- big data
MKT intelligence
8 ways to improve
Train & motivate the sale force to spot & report new development
Motivate distributors, retailers & other intermediaries to pass along important intelligence
Hire external experts to collect intelligence
Network internally & externally
Set up a C advisory panel
Take advantage of government-related data resources
Purchase information from outside research firms & vendors
Collecting MKT intelligence on the Internet -- Independent C goods & service review forums; Distributor / sales agent feedback sites; combo sites offering C reviews & expert opinion; C complaint sites; public blogs
Analyzing the Macro-environment
Needs & trends
fad
trend
magatrend
Identify the major forces: demographic, nature, political-legal, technology, economic, social-culture
The demographic environment
Worldwide population growth
population age mix
ethnic & other markets
educational groups: illiterates, high school diplomas, college degrees, professional degress
household patterns
The economic environment
consumer psychology
income distribution: subsistence E, raw-material-exporting E, industrializing E, industrial E
income, saving, debt, credit
The sociocultural E
view of: ourselves, others, organization, society, nature, universe
core cultural values: core beliefs & secondary briefs
subculture
the Natural E: corporate environmentalism , green
the Technology E
accelerating pace of change
unlimited opportunities for innovation
varying R&D budgets
increased regulation of technological change
the Political-legal E
increased business legislation
growth of special-interest groups
Forecasting and demand measurement
The measures of market demand
potential market (interest)
available market ($)
target market (company)
penetrated market (consumer )
Estimating current demand
total market potential (market size)
area market potential
Market-buildup method -- North American Industry Classification system (NAICS)
Multiple-factor Index method
industry sales and market shares
Estimating future demand
survey of buyers' intentions
composite of sales force opinions
3.expert opinion
past-sales analysis
market-text method