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Chapter
3
Collecting
Information and
Forecasting
Demand

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Components of a
Modern Marketing
Information System (MIS)

ü Internal company records

ü Marketing intelligence activities
ü Marketing research

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Internal records
• Internal reports of
orders
• Sales
• Prices
• Costs
• Inventory levels
• Receivables
• Payables
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Marketing intelligence
• Marketing intelligence system: a set of
procedures and sources that managers use to
obtain everyday information about
developments in the marketing environment

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Analyzing the Macroenvironment

• Needs and Trends

– Fad

– Trend

– Megatrend

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External Marketing Environment

Major Forces in the environment

Demographic Natural

Economic Technological

Socio-cultural Political-legal

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The Demographic Environment

• Worldwide population growth

• Population age mix

• Ethnic and other markets

• Educational groups

• Household patterns
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The Economic Environment

CONSUMER PSYCHOLOGY

INCOME DISTRIBUTION

INCOME, SAVINGS, DEBT, CREDIT

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The Sociocultural Environment

Views of Views of
ourselves society

Views of Views of
others nature

Views of Views of the

organizations universe

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The Sociocultural Environment

• Core cultural values

– Values are passed from parents to children
and reinforced by social institutions

• Subcultures
– Groups with shared values, beliefs,
preferences, and behaviors emerging from
their special life experiences or circumstances

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The natural environment

• Corporate environmentalism
– Opportunities await those who can reconcile
prosperity with environmental protection

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The Technological Environment

Accelerating pace of change

Unlimited opportunities
for innovation

Varying R&D budgets

Increased regulation of
technological change

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The Political-Legal Environment

LAWS

GOVERNMENT AGENCIES

PRESSURE GROUPS

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Forecasting and Demand

Measurement
• Market demand measures
– Potential market

– Available market

– Target market

– Penetrated market

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Estimating Current Demand

• Total market potential
– Chain-ratio method

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Estimating future demand

• Survey of buyers’ intentions
– Forecasting and purchase probability scale
• Composite of sales force opinions
• Expert opinion
• Past-sales analysis
• Market-test method

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