Marketing research: Online research applications (5th ed.). Upper Saddle River, NJ: Prentice Hall. McDaniel, C., & Gates, R. (2006). Marketing research (7th ed.). Noboken, NJ: John Wiley & Sons.
Elements of the Marketing Mix In any organization to succeed understanding the roll of marketing in the organization is vital to continue thriving or eventually closing the doors down for good. Understanding marketing and effectively conducting marketing with proper managing not only will result in success but, a higher return on ROI. Each organization will handle their marketing tactics differently depending on their goals and budget. However, it is common for marketing process to include setting goal, evaluating opportunities, research on competition, strategy planning (including budget for marketing), and developing marketing programs. The development of marketing strategy first begins with what type of product or services the organization is going to provide the public.
Works Cited Aaker, D. A., Kumar, V., & Day, G. S. (2007). Marketing research (9th ed.). Hoboken, NJ: John Wiley & Sons. Burns, A. C., & Bush, R. F. (2006). Marketing research:Online research applications (5th ed.).
Works Cited Aaker, D. A., Kumar, V., & Day, G. S. (2007). Marketing research (9th ed.). Hoboken, NJ: John Wiley & Sons. Burns, A. C., Bush, R. F. (2006). Marketing research: Online research applications (5th ed.).
Market need is uncertainly, to meet customer expectation, company have to learn what their want and provide it on time. Marketing research therefore can be called that is one of the factor that force company’s ability to supply expected goods or service to market by mean of learning about consumers and respond their need. (Trim et al 2006, pp205-206) Good research should be objective and provide precise information for companies because that influences to manager whose make decision and develops business plan or strategy from that data. Moreover, Trim et al(2006, p209) argue that ‘marketing strategists need to be able to use the findings of qualitative marketing research in order to influence board level thinking and actions.’ that necessary for manager to ta... ... middle of paper ... ...y want company to improve quality of similar product that company already got. This comment might come on extra comment in questionnaire that researchers give to respondents.
Ø Coordinate its functions to achieve marketing aims Ø Be aware of constraints on marketing activities I will also be considering the importance of developing and maintaining a relationship with its customers, potential customers and other stakeholders. I will look upon on establishing customer needs, methods of analysing marketing opportunities, and the m... ... middle of paper ... ...ons can exert a major influence upon the stores’ accessibility and attractiveness to consumers. Planning the selection process as carefully as possible and using methods described should maximise the success. Marks and Spencer pays particular attention to social and geodemographics, along with consumer spend, before deciding on a location. Own brands are desirable products to offer, as they offer profitable margins and a high level of control over the marketing aspects of management.
An effective marketing strategy must be drawn from the fundamental research of the markets it resides in; focusing on the correct product mix in order to fully potentially profit at the highest possibility. In today’s society, the marketing concept can be seen as the philosophy in which firms analyze the needs of their customers and create decisions in which to satisfy those needs. There are different ways to creating a marketing strategy; however, at the beginning of it all a firm needs to understand the various factors within and surrounding their primary objection. These factors must be taken into consideration even before reaching out to the consumers. Understanding the environments are the core principles in which a marketing strategy can be determine by.
This process plays a large role in this firm, as I will have to ask questions by the second to achieve the correct information at the right time in order for the business to be a success. The marketing department would look into market research, as this is the main factor of the project. Focus groups and other methods of research will be undertaken in order
The planning phase consists of a SWOT analysis as well as organizing specific marketing strategies and tactics for each marketing mix element. The implementation phase puts the marketing plan into action by obtaining resources, designing the organization and executing the marketing program (Logman, 1997).The control phase compares implemented program with the plan's goals to decide if the plan is effectiveness or needs adjustment. The marketing mix helps a company define the marketing elements for successfully positioning a market offer. The four P’s model, one of the best-known models, helps a company define its product marketing options in terms, place, price and promotion (MindTools.com, 2010). To enhance their impact with their target market, companies often use this model when you are planning a new venture, or evaluating an existing offer.
The aim of this report is to therefore assess the following elements of marketing by explaining how each one will be incorporated into marketing the SmartTrainer. Firstly, one of the most important focuses would be given to the target customer as we will need to know more about their taste and preferences. What it is they need and or want. Particular topics covering this area will be, the need for ‘Market segmentation’, identifying a competitive position in the market about to enter in the market and studying consumer behaviour, will all be discussed. Secondly, we will discuss more about the product itself.