Week 9 - Week 9 Estimating Demand(Sales Forecasting...

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Click to edit Master subtitle style Week 9 Estimating Demand (Sales Forecasting) Marketing Plan Outline
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Estimating Demand
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Why New Products Fail “Over Championing” Poor Design Poor Marketing Execution High Development Costs Strong Competitive Reaction Overestimated Demand (Failure to define market correctly) ©
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DEFINING THE MARKET TYPES OF MARKETS ü POTENTIAL MARKET ü AVAILABLE MARKET ü QUALIFIED AVAILABLE MARKET ü TARGET MARKET ü PENETRATED MARKET 0
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Market Potential and Sales Forecasting Potential : The maximum sales reasonably attainable under a given set of conditions within a specified period of time. An upper limit or ceiling on sales.© 0
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POTENTIAL MARKET Ø ALL CUSTOMERS WHO MAY BE INTERESTED IN A PARTICULAR OFFERING. RENTAL CAR EXAMPLE : ANY DRIVER WHO NEEDS TEMPORARY TRANSPORTATION 0
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AVAILABLE MARKET Ø A SUBSET OF THE POTENTIAL MARKET: CUSTOMERS WHO ARE INTERESTED, POSSESS ADEQUATE INCOME, AND HAVE ACCESS TO THE OFFERING RENTAL CAR EXAMPLE: ANY DRIVER WHO CAN AFFORD THE RENTAL FEES AND IS IN THE AREA SERVED BY RENTAL- CAR SERVICES. 0
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QUALIFIED AVAILABLE MARKET Ø A SUBSET OF THE AVAILABLE MARKET: CUSTOMERS WHO ARE QUALIFIED TO BUY BASED ON AGE (FOR PRODUCTS THAT CANNOT BE SOLD TO UNDERAGE CONSUMERS) OR OTHER CRITERIA. RENTAL CAR EXAMPLE: DRIVERS IN THE AVAILABLE MARKET WHO HAVE LICENSES AND MEET MINIMUM (OR MAXIMUM) AGE RESTRICTIONS . 0
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TARGET (SERVED) MARKET Ø A SUBSET OF THE QUALIFIED AVAILABLE MARKET: CUSTOMERS THAT THE COMPANY INTENDS TO TARGET FOR A PARTICULAR OFFER. RENTAL CAR EXAMPLE: DRIVERS IN THE QUALIFIED AVAILABLE MARKET WHO NEED TO TRAVEL FROM AIRPORTS TO FINAL DESTINATIONS IN THE AREA. 0
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PENETRATED MARKET Ø
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