Marketing Essay

Marketing Essay

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Marketing

Different Companies have different methods of selling their products,
some companies decide to launch an item and wait for the results of
the sales. Another method of selling a product is to research the
market in which it is to be sold. There are various ways of conducting
some market research, much depends on the item you wish to sell, the
time you may have to research and the amount of money that is
available.

People who are expected to be consumers may be approached in order to
recognise their needs, this may be done through questionnaires
verbally by post or by phone once their needs are recognised it will
be clearer what to provide for them.

Research into the companies' product may provide information into
potential competition and pricing the product. Price is of obvious
importance for maximum sales and maximum profit. Researching the
market may suggest that a sample should be circulated in order to
address and amend any issues for example if it is an edible product
the taste and smell must be considered if it is an electrical product
the functions may be considered is it user friendly or practical or
too complicated the right product with the wrong design will not sell
and cold turn a potential profit into a potential loss.

Studying peoples buying patterns will unveil ideas as to where this
product should be sold, where people are more likely to buy them the
consumer will have to be targeted and the product strategically
planned in order to sell e.g. Haagen Dazs

Good market research and prompt recognition and coherence will allow
the producers to adopt relevant selling strategies and the ability to
...


... middle of paper ...


...oduce enough in June 1994 and therefore decided not to use any
advertising promotions. This may have been avoided if primary research
had been done earlier to see what the demands of the consumers were,
and the forecast of the weather.

The product proved to be successful and ultimately that is what
produces profits. Walls chose to conduct little primary research it
may be that it was not required as Solero was a success, but it may
also suggest that Walls missed out on profits of one month in an
exceptionally hot summer because of lack of primary research

Also arguably, Walls set out to repeat the success of Magnum in the
indulgence sector but according to the impulse-positioning map Solero
is purchased as refreshment and not indulgence does this mean that
there is still room for a product in the indulgence sector?

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