session 7 mg 220 bba - 30 aug 10
DESCRIPTION
Session 7MG 220 Marketing ManagementBBA Section CTRANSCRIPT
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MG 220 Marketing ManagementBBA 09 – Sec C
Fall 2010
Muhammad Talha Salam, Asst. [email protected]
Access it online: www.slideshare.net/talhasalam
Part 2: Capturing Market Insights
> Forecasting and Demand Measurement> Review of Part 2
Class Presentation | Session 7 | 30 Aug 2010
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MG 220 Marketing Management 2Access it online: www.slideshare.net/talhasalam
Forecasting and Demand Measurement
• One of the major objectives of Marketing research
• Marketing’s tasks to identify opportunities and also give measured forecasts
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MG 220 Marketing Management 3Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementThe Measures of Market Demand• 90 types of Demand
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MG 220 Marketing Management 4Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementThe Measures of Market Demand• Different ways of looking at “market”
• Potential MarketSet of consumers who profess a sufficient level of interest in a market offer (able to buy?)
• Available MarketSet of consumers who have interest, income and access to a particular offer. (Qualified Available Market => Eligible or allowed)
• Target MarketPart of Qualified Available market, the company decides to pursue (most attractive segment)
• Penetrated MarketSet of consumers who are buying the company’s products
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MG 220 Marketing Management 5Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Market Demand:
For a product is the total volume that would be bought:- by a defined customer group- in a defined geographical area- in a defined time period- in a defined marketing environment- under a defined marketing program
• It is not a number but a function (correlation) of stated conditions
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MG 220 Marketing Management 6Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Market Demand:
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MG 220 Marketing Management 7Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Market Demand:
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MG 220 Marketing Management 8Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Market Demand:– Market Minimum– Market Potential– Marketing Sensitivity of Demand (Demand’s
reaction to marketing effort)• Expansible market (demand reacts highly to marketing)
• Non-expansible market (demand reacts less to marketing)
– Market Penetration Index (current level of market demand to potential demand)
– Share Penetration Index (current level of market to its potential market share)
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MG 220 Marketing Management 9Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Market Forecast:– Only one level of expenditure is possible
(or practically done)
–Market demand corresponding to that level is Market Forecast
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MG 220 Marketing Management 10Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Market Potential:–Market forecast shows demand at a
limited level only
–Market Potential is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.
– Market Demand with maximum possible marketing expenditure
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MG 220 Marketing Management 11Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Company Demand:– Company’s estimated share of market
demand at alternative levels of company marketing effort in a given time period
– Relating demand to competitors, company’s image etc.
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MG 220 Marketing Management 12Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Company Sales Forecast:
– After understanding company demand,– Choose a level of marketing effort
– Company sales forecast is the expected level of company sales based on a chosen marketing plan and an assumed marketing environment.
– Based on this:– Sales Quota is the sales goal set for a product line, company
division. Assigned to: stimulate sales effortsGenerally higher than Sales Forecast
– Sales Budget is conservative estimate of expected volume of sales and is used for internal decisions like purchasing, cash flow etc.Generally lower than Sales Forecast
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MG 220 Marketing Management 13Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementVocabulary for Demand Measurement• Company Sales Potential:– Company sales potential is the sales
limit approached by company demand as company marketing effort increases relative to that of competitors
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MG 220 Marketing Management 14Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementEstimating Current Demand• Total Market Potential– Estimate: Potential number of buyers X average
quantity purchase by a buyer X price
• Area Market Potential– Problem of selecting best territories and
allocating marketing budgets
• Industry Sales and Market Shares– Identifying industry and competitors’ sales
figures
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MG 220 Marketing Management 15Access it online: www.slideshare.net/talhasalam
Forecasting and Demand MeasurementEstimating Future Demand• Three-stage procedure
1. Macroeconomic forecast2. Industry forecast (based on Sr. 1)3. Company sales forecast (based on Sr. 2)
• How to? And information Bases– What People Say
• Survey Consumers• Salesforce opinions• Experts’ (distributors, retailers, consultants) opinions
– What People Have Done• Past-Sales Analysis
– What People Do• Test-Marketing
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MG 220 Marketing ManagementBBA 09 – Sec C
Fall 2010
Muhammad Talha Salam, Asst. [email protected]
Access it online: www.slideshare.net/talhasalam
Part 3: Connecting with Customers
> Intro to Part 3
Class Presentation | Session 7 | 30 Aug 2010
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MG 220 Marketing Management 17Access it online: www.slideshare.net/talhasalam
Part 3: Connecting with CustomersAn intro and overview
Chap 5: Creating Customer Value, Satisfaction, and Loyalty
Chap 6: Analyzing Consumer Markets
Chap 7: Analyzing Business Markets
Chap 8: Identifying Market Segments and Targets
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MG 220 Marketing ManagementBBA 09 – Sec C
Fall 2010
Muhammad Talha Salam, Asst. [email protected]
Access it online: www.slideshare.net/talhasalam
Part 3: Connecting with Customers
> Building Customer Value, Satisfaction and Loyalty
> Maximizing Customer Lifetime Value> Cultivating Customer Relationships> Customer Databases and Database
Marketing
Class Presentation | Session 8 | 1 Sep 2010