Marketing Management (2nd Semester)

Group 2

Prepared by:
Zarah Mae Cajara-Bas
Mary Jane Manuel
Vincent B. Froyalde

Submitted to:
Dr. Mary Grace Batac
Conducting Marketing
Research and
Forecasting Demand
Marketing Research System
Process of gathering and analyzing
information about the needs,
preferences, and behavior of
potential and existing customers.
It helps businesses to understand
their target market and improve
their products, services, and
marketing strategies.
 Can be conducted in various ways,
such as surveys, interviews,
customer observations, and focus
groups.
Marketing Research Methods
 Way of collecting and analyzing information.
 Primary Research - directly obtained from potential
and existing customers. Can help businesses to
create or improve their products, services, and
marketing strategies.
1. Surveys - collect information from large scale of
respondents using standardized questions. Can
be conducted thru online, by phone, by mail, or
in person. They can help businesses to measure
customer satisfaction, loyalty, awareness, or
feedback.
2. Interviews and focus groups - collect
information from a small number of
respondents using open-ended questions. Can
be conducted face-to-face, by phone, or online.
They can help businesses to explore customer
attitudes, motivations, or preferences in depth.
3. Observational studies - collect information by
watching and recording customer behavior in
natural or controlled settings. This method can
help businesses to understand how customers
use, interact with, or react to a product or
service.
Marketing Research Methods
 Way of collecting and analyzing information.
 Secondary Research - already been produced by someone
else. Can help businesses to understand their target
market better and improve their products, services, and
marketing strategies.
1. Statistical analysis - Uses numerical data from
existing datasets to perform calculations, tests, or
models. Can help businesses to measure market
size, growth, trends, segments, or customer
behavior.
2. Literature review - Involves reviewing and
summarizing previous studies or publications on a
specific topic. Can help businesses to identify gaps in
knowledge, find best practices, or learn from
previous experiences.
3. Case study - Involves examining and analyzing a
specific situation or example in detail. Can help
businesses to understand how a problem was
solved, how a success was achieved, or how a failure
was avoided.
4. Content analysis - Involves examining and
interpreting the content of texts, images, videos, or
audio. Can help businesses to understand how
customers perceive their brand, products, or
services; how competitors communicate their
messages; or how the media portrays their industry.
Marketing Research Process
 Is a series of steps that help businesses gather and analyze information about their
target market, customers, competitors, and industry. The purpose of marketing
research is to identify and solve marketing problems, improve marketing strategies,
and create new opportunities for growth.
1. Define the problem - This is the first and most important step in the marketing
research process. It involves identifying and clarifying the main issue or
opportunity that needs to be addressed by the research. The problem or
opportunity should be stated clearly and precisely, as it will guide the rest of the
research process.
2. Develop the research plan - This step involves designing and planning the
research project, including defining the research objectives, choosing the
research methods, selecting the sample size and sampling technique,
determining the data sources and collection methods, and preparing the
research instruments (such as surveys, questionnaires, or interviews). The
research plan should also include a budget, a timeline, and ethical
considerations for conducting the research.
3. Collect the data - This step involves executing the research plan and gathering
the data from the chosen sources and methods.
 Primary data is data that is collected specifically for the research project,
such as survey responses, interview transcripts, or customer feedback.
 Secondary data is data that already exists and is collected from external
sources, such as reports, publications, or databases.
 Quantitative data is data that can be measured and expressed in numbers,
such as sales figures, market share, or customer ratings.
 Qualitative data is data that cannot be easily measured or quantified, but
provides rich insights into customer attitudes, motivations, or behaviors,
such as opinions, preferences, or emotions.
Marketing Research Process
4. Analyze the data - This step involves processing and interpreting the data collected in the
previous step. The goal of data analysis is to identify patterns, trends, relationships,
differences, or similarities in the data that can answer the research questions and
objectives.
5. Report and present the findings - This step involves summarizing and communicating the
results and implications of the data analysis in a clear and concise manner.
 Introduction - outlines the background and purpose of the research project.
 Methodology section - describes how the research was conducted.
 Results section - highlights the main findings and insights from the data.
 Discussion section - interprets and explains the results in relation to the research
objectives.
 Conclusion section - summarizes the main points and provides recommendations for
action.
 Appendix section - provides additional details or supporting information for the
report.
 The report and presentation should also include charts, graphs, tables, or images to
illustrate and visualize the data.
6. Act based on insights - This is the final and most crucial step in the marketing research
process. It involves using the findings and recommendations from the report and
presentation to make informed decisions and implement effective actions that will solve
the problem or seize the opportunity identified in the first step.
 Include developing new products or services
 Improving existing products or services
 Changing pricing strategies
 Modifying distribution channels
 Enhancing promotional campaigns
 Creating customer loyalty programs
 Adjusting business policies
Advantages of Marketing Research
 Improved efficiency - You can improve the
efficiency of delivering the product to the
market and increase its usability.
 Cost-effective - Marketing research helps you
make the right decisions based on consumer
demand, thus saving you costs in creating
something that customers do not like or want.
 Competitive edge - Quicker, more robust
insights can help you place your services and
products strategically, gaining a competitive
advantage over others.
 Build strategies - You can quickly build, alter, or
design new approaches to attract your users and
consumers.
 Improved communication - Bridge the
communication gap by interacting with
consumers and hearing them out. This helps
consumers feel wanted and special.
 Is the process of evaluating how well your marketing efforts are achieving your goals and
objectives.
 Helped to optimize marketing strategies, improve performance, and increase return on
investment.
 Can be measured by using different metrics, depending on the type of marketing activity,
the desired outcome, and the available data.
Marketing productivity tools
 Are software applications that help
marketers to plan, execute, and
optimize their marketing activities
more efficiently and effectively.
 They can help marketers to save time,
reduce errors, improve collaboration,
and measure results.
 There are many types of marketing
productivity tools available for
different purposes and functions, such
as SEO (search engine optimization),
social media, content creation, project
management, analytics, and more.
Forecasting and demand management
 Is a process that helps businesses to estimate
and plan demand of their products or
services.
 It involves using various methods and tools
to collect and analyze data, such as historical
sales, market trends, customer feedback,
competitor actions, and more.
 Forecasting and demand management can
help businesses to improve their efficiency,
profitability, and customer satisfaction by:
 Aligning their supply and demand to
avoid shortages or excess inventory.
 Optimizing their production, distribution,
and logistics operations
 Adjusting their pricing, promotion, and
product development strategies
 Anticipating and responding to changes
in customer needs and preferences
 Reducing costs, risks, and uncertainties
Forecasting and demand management
 Is a complex and dynamic process that requires
constant monitoring and evaluation.
 It also requires collaboration and coordination
among different departments and functions
within the organization, such as sales,
marketing, operations, finance, and more.
 Some of the challenges and best practices of
forecasting and demand management are:
 Choosing the right forecasting method and
model for each product or service
 Using multiple sources and types of data to
increase accuracy and reliability.
 Incorporating qualitative and quantitative
factors into the analysis
 Updating and revising the forecasts
regularly based on new information and
feedback.
 Communicating and sharing the forecasts
with relevant stakeholders
 Measuring and improving the forecast
performance and accuracy