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Kotler Summary – Chapter 04: Managing & Marketing Information and Measuring Market Demand

Three developments that create need:

  1. From local to national to global marketing
  2. From buyer needs to buyer wants
  3. From price to non-price competition

Most important advancement: computerized data capture systems

Marketing Information System: consists of people, equipment, & procedures to gather, sort, analyze, evaluate & distribute needed, timely & accurate information to marketing decision makers.

Internal Records System: reports on orders, sales, prices, inventory levels, etc.

Marketing Intelligence System: set of procedures & sources used by managers to obtain their everyday information about pertinent developments in the marketing environment.

Five things to improve marketing intelligence:

  1. Sales force to spot & report new developments
  2. Motivate distributors, retailers, & other intermediaries to pass along important intelligence
  3. Appoint specialists to gather marketing intelligence
  4. Purchase information from A.C. Neilsen or IRI
  5. Establish internal marketing information center

Marketing Research System:
Marketing Research – systematic design, collection, analysis & reporting of data & findings relevant to a specific marketing situation facing the company.

Suppliers of Marketing Research:

The Marketing Research Process

Step 1: Define the problem & agree on research objectives

Step 2: Develop research plan

Step 3: Data sources

Step 4: Collect the Information

Step 5: Analyze the Information – averages, measures of dispersion

Step 6: Present the Findings to relevant parties

The Characteristics of Good Marketing Research

Overcoming barriers to the Use of Marketing Research:

Marketing Decision Support System (MDSS) – is a coordinated collection of data, system, tools, & techniques with supporting software & hardware by which an organization gathers and interprets relevant information from business & environment & turns it into a basis for marketing action.

An Overview of Forecasting & Demand Measurement

A Vocabulary for Demand Measurement

Area market potential – select best territories

Industry & Market Shares

Estimating Future Demand

Survey of buyer’s intention:

Composite of Sales Force Opinions

Expert Opinion can give forecasts

Market test method – test forecast directly in market