Marketing Management

Fourth European Edition

PART 2
Capturing Marketing Insights

Chapter 6
Managing market research and
forecasting

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 Chapter 6 Learning objectives

1. What constitutes good market research

2. The marketing research process
3. How marketers can assess their return on
investment on marketing expenditure
4. How companies can measure and forecast
demand

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 The marketing research system

• Syndicated-service research firms

• Custom market research firms
• Specialty-line marketing research firms

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 The market research process

• Step 1: getting started

– Define the problem
– Decision alternatives
– Research objectives

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 The marketing research process
(Continued)

• Step 2: develop the research plan

– Data sources
– Research approaches
– Observational research
– Focus group research
– Survey research
– Behavioural big data
– Experimental research

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 Managing market research process
(Continued)

• Step 2: analyse the information

– Questionnaire
– Qualitative measures
– Technological devices

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 Managing market research process
(Continued)

• Step 2: develop the research plan/contact

methods
– Mail questionnaire
– Telephone interview
– Personal interview
– Online interview

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 The market research process
(Continued)

• Step 3: collect the information

• Step 4: analyse the information
• Step 5: present the findings
• Step 6: make the decision

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 The market research process
(Continued)

• Overcoming barriers to the use of market

research
– Narrow concept of research
– Poor framing of the problem
– Late and occasionally erroneous findings
– Personality and presentational differences
– Illusions of seeing

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 Forecasting and demand
measurement

• The measures of market demand

• Estimating current demand
– Total market potential
– Area market potential
– Industry, sales and market share

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 Forecasting and demand
measurement (Continued)

• Estimating future demand

– Survey of buyer’s intentions
– Composite of sales force opinion
– Expert opinion
– Past sales analysis
– Market test method

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