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To use the marketing concept a business should: • Determine the needs of their customers (Market Research) • Analyze their competitive advantages (Market Strategy); • Select specific markets to serve [Target Marketing), and; • Determine how to satisfy those needs [Market Mix). Rather then making a decision on the basis of intuition and guesswork good information about the market is necessary and that is why most companies undertake market research. They collect and analyze all the info.
they can get about the market: the size of a potential market, population, shifts, local development, local economic situation should also be monitored to enable early identification of problems and opportunities. They are usually based on a ques¬tionnaire given to present customers and/or prospective customers, can disclose problems and areas of dissatisfac¬tion that can be easily remedied, or new products or services that could be offered successfully. Moreover marketing information can be got by simply by observing things around them.
They can visit competing stores to check on facilities and prices. They can evaluate their customer mix by recording how many and what kinds of customers shop in the store at different times. Competitor advertising can be monitored by collecting ads.
from local media. Telephone interviewing is one of the best methods for gathering information quickly, and it provides greater flexibility than mail questionnaires. Interviewers can explain questions that are not understood.
Depending on the respondent's answers, they can skip some questions or probe further on others. But telephone interviewing also has drawbacks. The cost per respondent is higher than with mail questionnaires,.Скачать