Marketing Information Management 1.05 A
2. Test product features
3. Determine market size and growth potential
4. Learn about competitive products
5. Determine buying cycles
6. Understand how the company is perceived by the public
2. Information obtained from research helps businesses increase sales and profits.
2. At what price to sell the products
3. Who will buy the products
4. How the products will be promoted
5. Helps businesses solve marketing problems
6. Gauge the potential of new ideas
7. Keep track of current trends in the marketplace
2. What its competitors are offering
3. Which products its competitors are offering.
4. How satisfied customers are with its competitors products.
2. Most of their research is done informally through owners, managers and employees.
3. Sometimes small businesses hire an outside firm to conduct marketing research.
2. Sometimes it is still more cost-efficient for larger companies to outsource their market research to a firm that specializes in designing and conduct market surveys.
2. Non-profit organizations – such as hospitals – conduct customer satisfaction surveys to improve their programs and services.
2. Overall product sales reports
3. Inventory levels
2. Develop promotional plans
3. Sell directly to customers
1. Previous marketing studies regarding buying behavior
2. Shopping patterns
3. Customer demographics
4. Lifestyles research
Company records, such as:
1. Sales results
3. Supplier data
4. Production schedules
Government data, such as:
1. Price trends
2. New regulations and laws
3. Future projections for the economy
Marketing research reports that are produced and sold by research firms
Need essay sample on "Marketing Information Management 1.05 A"? We will write a custom essay sample specifically for you for only $ 13.90/page