The Marketing Area of the business decides the target markets, market share, market penetration, market expansion, product specification, competition intensity etc. The Marketing management is defined as the process of managing the market for the accomplishment of the organizational goals and objectives.
Marketing management is responsible for the promotion, distribution, expansion and stimulating the consumers through best services. It gives valuable input to the companies for right pricing of the product, details of the market, effective way of advertising, proper creation and the maintenance of the distribution channels etc.
The surveys, Questions, polls are some of the ways to get information from the general public, business stakeholders, consumers to conceive the plan and implement the marketing activities. The marketing plan is decided after fetching information from the targeted groups.
The Market plan should accommodate the demand side aspirations thus making a participation in the business plans. The company's showroom feedback form can help in improving the customer services. The customer feedback form can give insights about the product, how well the business was carried out, customer services and employees attitudes towards the customers.
So a survey can help the marketing from devising a plan till its implementation and its effects. The plans and their effects can be documented so that they can be used for the future course of action.
The market research are mainly done surveys, Questions, polls.Market research is any organized effort to gather information about target markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.
Market research is a key factor in maintaining competitiveness over competitors. Market research provides important information to identify and analyze the market need, market size and competition.
Market research, which includes social and opinion research, is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.
Through Market information one can know the prices of different commodities in the market, as well as the supply and demand situation. Market researchers have a wider role than previously recognized by helping their clients to understand social, technical, and even legal aspects of markets.
Market segmentation is the division of the market or population into subgroups with similar motivations. It is widely used for segmenting on geographic differences, personality differences, demographic differences, technographic differences, use of product differences, psychographic differences and gender differences. For B2B segmentationfirm graphics is commonly used.
Market trends are the upward or downward movement of a market, during a period of time. Determining the market size may be more difficult if one is starting with a new innovation. In this case, you will have to derive the figures from the number of potential customers, or customer segments.
SWOT is a written analysis of the Strengths, Weaknesses, Opportunities and Threats to a business entity. Not only should a SWOT be used in the creation stage of the company but could also be used throughout the life of the company. A SWOT may also be written up for the competition to understand how to develop the marketing and product mixes.
The Customer Satisfaction Surveys are very useful in finding about how the customers feel about the company since the purchase of the product. The Customer Satisfaction is one of the important gauge to measure the services offered by the company.
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