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Marketing

Market Research

Importance

It provide us with information and opportunities about value of existing and new products

Benefits

Productive business investment

Determine the market size

Make well-informed decisions

Steps

Subtopic

Make the report

Analyze the results

Carry out data collection

Define the sample

Define the problem

Methods

Etnographic Research

Is conducted in natural settings of respondents

Focus Group

Are 8-10 people that you gather to get their impressions of a product or service

Interview

Is where the researcher asks a series of questions to collect information

Definition

Data

Qualitative

Beauty, Colors, Flavors

Collected can just be observed

Implementedwhen data can be segregate

Associated with details

Qualntitative

Ex: Time, Weight, Height

Collected data can be statistically

Implemented when data is numerical

Associated with numbers

Resarch

Secondary

Disadvantages: Can be too old or not specific enough

Benefits: Usually cheap and quick

Can be either

By someone else

Primary

Disadvantages: Usually costs more

Benefits: Specific to your needs

Can be either data

By you

Is the defined process of evaluating the feasibility of a new product or service through research

Marketing Administration

Identifies the consumers needs and supplies various goods and services to satisfy those needs

Marketing Mix

Promotion

Its refers to a process of informing persuading and influence a consumer

Product

Refers to the goods and services offered by the organization

Place

They must be made available to the consumers at a place where they can conveniently make a purchase

Price

Is the amount charged for a productor service. The price has always shaped the perception on the product

Promotional Mix

Direct Marketing

Companies reach customers directly without any intermediaries or any paid medium only with technology

Public Relations

The marketers try to built a favorable image in the market by creating relations with the general public

Sales Promotion

Is the short term incentives given to the customers have an increased sale for given period

Discounts

Coupons

Personal Selling

This is one of the traditional form of promotional tool wherein the salesman interacts with the customer directly

Advertising

Is any paid form of non-personal presentation and promotion of goods and services by the identified sponsor in the exchange of a fee

Production

Use this template to test your knowledge on some of Medieval Europe's most important events. Write down the names of important figures who have marked history.