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Chapter 4: Conducting Marketing Research and Forecasting Demand Christina C. Cabrera May 12, 2010

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Chapter 4: Conducting Marketing Research and Forecasting Demand

Christina C. CabreraMay 12, 2010

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Conducting Marketing Research and Forecasting Demand

• Intro: Why is marketing research hot?– Know the basics.

• Body: From HOT to

HOT, – learning how to do

Marketing research– 10

• Summary

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Know the basics

• Marketing insights interpret – past performance – future activities

• Companies conduct their own marketing research or outsource

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Effective Marketing Research follows 6 steps

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Concept 1: Marketing Research Working toward a successful product or brand growth

• Kotler: Gillette• Local: “Sachet Marketing”• New Generation Anti-histamines, Calayan

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Concept 2: Marketing Research Departments are crucial

• Kotler: P&G’s Consumer & Market Knowledge (CMK)

• Local: Alaska • Medical: Pharmaceutical Companies: Biogesic

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Concept 3: Research does not have to be expensiveCreativity and resourcefulness

• Kotler: Engaging students or professors (outsource)

• Local:Bus – checking out rivals• Medical: learn by observing

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RECALL: Effective Marketing research follows 6 steps

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Concept 4: Decide which research approach to use

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Concept 4: Decide which research approach to use

• Research approaches– Observational – Ethnographic – Focus Group– Survey– Behavioral Data– Experimental

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Decide which research approach to use

• Kotler: Comcast Corp (Survey), • Local: Amorita (FGD)• Medical: Experimental research, professional

fees

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Concept 5: Marketing Researchers must decide on contact method

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Concept 5: Marketing Researchers must decide on contact method

• Contact Methods:

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Concept 5: Marketing Researchers must decide on contact method

• Kotler: Kraft online communities: 100 cal• Local: Trial and interview, new starbucks drink• Medical: Belo Contest, answer flyer

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Concept 6: Failure to use marketing

• Kotler: Star wars• Local:• Medical: Location of clinic

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Concept 7: Benefitted

• Kotler: Ideo (observational)• Local: Mang Inasal• Medical: Chicken McDo, St Lukes Global

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Concept 8: Measuring Marketing productivity

• Marketing metrics• Marketing mix modeling• Marketing dash board– Customer performance scorecard– Stakeholder performance scorecard

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Measuring Marketing productivity

• Kotler: 3M tracks sales of recent innovations (Marketing Metrics)

• Local: Pepsi – print ad (Marketing Mix)• Medical: Stakeholder performance

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Concept 9: Measures of Market DemandHow to breakdown the market

• Potential Market• Available Market• Target Market• Penetrated Market

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Measures of Market DemandHow to breakdown the market

• Kotler: motorcycle ban for 18 < • Local: Cigarettes, alcohol• Medical: Target Market of Xenical, Calayan

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Concept 10: Estimating demandLearning the practical methods

• Current vs. Future Demand• Current– Total Market Potential– Area Market Potential– Industry shares and market shares

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Estimating current demand

• Kotler: Nielsen Media research• Local: Alaska – reports from Grocery sales• Medical – number of patients

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Summary

• SUCCESS and GROWTH• Effective Marketing Research follows 6 steps• Measure– Marketing productivity– Demand

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Conclusion

Whatever you do,

Make it .