logging in or signing up Marketing Research and Sales Forecasting aravindkumar013 Download Post to : URL : Related Presentations : Let's Connect Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Copy embed code: Embed: Flash iPad Dynamic Copy Does not support media & animations Automatically changes to Flash or non-Flash embed WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 299 Category: Entertainment License: All Rights Reserved Like it (0) Dislike it (0) Added: January 08, 2012 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript Market Research & Sales Forecasting: Market Research & Sales ForecastingWhat is Market Research?: What is Market Research? Simply a matter of finding out as much as you can before committing yourself to an irretrievable step When you do not have answers through your own Market Information and Intelligence SystemWhat to find out?: What to find out? What does the customer need? Who is the target audience and how much can you find out about them? What is the competition? Are there any gaps in the market? Would the product be acceptable in the market?Do I need Market Research? : Do I need Market Research? Yes. Provided I know what I want.The MR Process: The MR Process What is the Marketing Problem? What is the Research Problem? Developing the Research Plan Research Approach Research Instruments Collecting the Information Analysing the information Presentation of findingsData sources: Data sources Reference Library Directories of Products/Companies The Bombay Stock Exchange Industry/Trade Journals Trade fairs and Exhibitions Company Annual Reports InternetTesting Product Acceptability: Testing Product Acceptability If your product is a knock - down kit , give it to the factory peon to assemble it. Post the item back to yourself and assess the damage the transporter does to it. Try various types of packaging and choose a suitable cost effective option. Try a number of product names and determine which is more acceptable.Sales Forecasting - Why is it necessary?: Sales Forecasting - Why is it necessary? To raise the necessary cash for investment and operations to establish capacity and output levels to acquire and stock the right amount of supplies to hire the required number of peopleMarket: Market A set of all actual and potential buyers of a product or servicePotential Market: Potential Market A set of consumers who profess a sufficient level of interest in a product or serviceAvailable Market: Available Market A set of consumers who have interest , income and access to a particular product or serviceQualified Available Market : Qualified Available Market A set of consumers who have interest, income, access and qualifications for the particular product or serviceTarget Market: Target Market Part of the qualified available market the company decides to pursuePenetrated Market: Penetrated Market A set of consumers who are buying the company’s product or serviceMarket Demand: Market Demand Total volume that would be bought by a defined customer group geographical area time period marketing environment marketing programmeMarket Potential: Market Potential Boom period RecessionMarket Minimum: Market Minimum The market potential of the product with minimum marketing effort of the industrySensitivity of Demand: Sensitivity of Demand Market Potential - Market MinimumMarket Forecast: Market Forecast Market demand corresponding to the industry marketing expenditure This would be lower than the market potentialCompany Demand: Company Demand Estimated share of market demand at alternative levels of company marketing effort in a given time periodCompany Sales Forecast: Company Sales Forecast Expected level of company sales based on a chosen marketing plan and an assumed marketing environment.Sales Target: Sales Target Sales goal for a product line,company division or a sales rep.It is a benchmark to evaluate achievements against goals set.Sales Budget: Sales Budget Conservative estimate of the expected volume of sales and is used for purchasing.production and cash flow decisionsEstimating Market Potential: Estimating Market Potential Chain - ratio method Demand for Complan = Population * per capita discretionary income * % discretionary income on food * % spent on beverages * % spent on health beverages * % spent on white health beverages * % spent on ComplanOther methods: Other methods Market built - up method Industry sales and market sharesEstimating Future Demand: Estimating Future Demand Survey of buyer’s intentions Composite of sales force opinions Expert opinion Past sales analysis Market test method You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.