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Title: Collecting Information and Forecasting Demand
Description: This note tackles about the collection of information and what are the things that is being used for the collecting. This also summarize the major forces of environmental and forecasting demand that could possible affect the whole process.
Description: This note tackles about the collection of information and what are the things that is being used for the collecting. This also summarize the major forces of environmental and forecasting demand that could possible affect the whole process.
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BASIC MICROECONOMICS (MGNT18)
BACHELOR OF SCIENCE IN BUSINESS ADMINISTRATION
City College of Tagaytay
CHAPTER 3 : COLLECTING INFORMATION AND FORECASTING DEMAND
Marketing Information System – consists of people, equipment, and procedures to gather,
sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing
decision makers
...
INTERNAL RECORD AND MARKETING INTELLIGENCE
1
...
3
...
Order - to - payment Cycle Data basis, warehouses, data mining
Sales Information SystemMarketing Intelligence System
Marketing Intelligence System – to be quart what it trend
...
The internal records system supplies results data, but the marketing Intelligence system
supplies happenings data
...
NEEDS AND TRENDS
FAD is "unpredictable, short-lived, and without social, economic, and political significance
...
(Ex
...
Trends have a much longer lifespan than fads
...
(Ex
...
The driving forces that define the world today and that of tomorrow
...
Demographic – population growth, population age mix, ethnic markets, educational
groups, household patterns
...
Economic – economy depends on current income, prices, savings, debt, and credit
availability
...
3
...
Natural Environment – Shortage of raw materials, Increased energy costs, Anti-pollution
pressures, Governmental protections
...
Technological – Pace of change, Opportunities for innovation, Varying R&D budgets,
Increased regulation of change
...
Political - Legal Environment – consists of laws, government agencies, and pressure groups
that influence various organizations and individuals
...
Available Market is the set of consumers who have interest, income, and access to a particular
offer
...
Total market potential is the maximum sales available to all firms in an industry during a given
period, under a given level of industry marketing effort and environmental conditions
...
Market-buildup Method calls for identifying all the potential buyers in each market and
estimating their potential purchases
...
Unfortunately, this information is
not always easy to gather
...
Time-series analysis breaks past time series into four components (trend, cycle, seasonal, and
erratic) and projects them into the future
...
Econometric Analysis builds sets of equations that describe a system and statistically derives
the different parameters that make up the equations statistically
Title: Collecting Information and Forecasting Demand
Description: This note tackles about the collection of information and what are the things that is being used for the collecting. This also summarize the major forces of environmental and forecasting demand that could possible affect the whole process.
Description: This note tackles about the collection of information and what are the things that is being used for the collecting. This also summarize the major forces of environmental and forecasting demand that could possible affect the whole process.