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MKTING MGT-CH 2-MKT RESEARCH

It gathers includes internal and external information

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Unformatted text preview: rmation. It gathers includes internal and external information, includes state of the art data base approach, application state models(call plan, detailer, brandaid, mediac, geolone, promoter, adcad, cover story), user friendly computer language, graphic features. STATISTICAL TOOLS STATISTICAL s Multivariate Techniques: » » » » » s Discriminant Analysis Factor Analysis Cluster Analysis Conjoint Analysis Multidimensional Scaling-perceptional map Simulation Models: » » » » Markov-process model Queuing model New-product pretest models Sales-response models FORECASTING AND DEMAND MEASUREMENT DEMAND s The Measurement of market demand: » Product level: s Product line and brands » Time level: s Short, medium and long term » Market level: s Domestic and global FORECASTING AND DEMAND MEASUREMENT DEMAND s Which Market to measure: » Potential: s Total number of consumers » Available: s Group of consumers who has interest » Qualified; s Consumers who have money and interest » Target: s Company wants to attract » Penetrated: s Consumers who are buying companies product A VOCABULARY FOR DEMAND MEASUREMENT DEMAND s Market Demand: » Market demand is the total volume that would be bought by a defined Market customer group: customer s Market demand function: – It is the difference between potential, forecasted and actual sales. » Market forecast: s Demand estimates » Market potential: s Limit of market demand » Company demand: s Company’s market demand in a given time period » Company sales forecast: s Expected sales level of the company » Company sales quota: s Defining and stimulating sales » Sales budget: s Expected sales volume and current purchasing, production and cash flow decision ESTIMATING CURRENT DEMAND DEMAND total market potential(Q=nqp) total market forecast market sales(demand) potential sales(demand) sales(demand) forecast sales(demand) ESTIMATING CURRENT DEMAND (CONT.) DEMAND s Total Market Potential: » Suspect pool » Prospect pool s Area Market Potential » Market-buildup method: s s s Difficult to gather information Standard Industrial Classification (SIC) North American Industrial Classification (NAICS) » Multiple factor index method: s s Buying Power Index: – BPI=.5Y + .3 R + .2P Where: Y=income, R=retail sales, P=population Y=income, Industry Sales and market Share: » A. C. Nielsen reports ESTIMATING FUTURE DEMAND DEMAND s Survey of Buying Intentions/Purchase Probability Survey Scales Scales » SRC of the University of Michigan s s s Sales Force Composites/opinions Expert Opinions Past-Sales Analysis » » » » s Time series analysis Exponential smoothing Statistical demand analysis Econometric analysis Market Test Method » New product introduction...
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