Free Marketing Dissertations - Marketing And Research To Be Able To Execute The Marketing Concept, There Is
MARKETING AND RESEARCH
To be able to execute the marketing concept, there is a dire need to proactively create intelligence on the market place, the competitors, market trends and the demands and needs of our potential customers. This is important especially because information collated here is unbiased and is an accurate depiction of real scenarios out in the market place. This in turn, would help an organisation such as ours avoid making uninformed decisions and remove any assumptions that the marketing managers may have on the market place.
As mentioned earlier, market research is essential to any and every organisation to ensure completeness in the execution of its marketing strategy and provide overall direction to the company. Breen & Blankenship (1989) conducted a study that highlighted how most retailers and service companies fail within the first 2 years of their inception. One of the main reasons cited for their business failure was the lack of initiative shown by the business owners to utilise readily available information to take more responsible decisions. The accurate use of information is critical to any business plan and the corresponding marketing strategy. It provides visibility in the environment the product or service is to be introduced in, helps predict behavioural patterns of customers and their reactions to the products and finally, provides an organisation with the option of preparing itself for any eventuality that would arise as a result of its marketing plans.
(Breen & Blankenship (1989) Do-it-Yourself Marketing Research, pages: 147-178)
At the same time, Birn (2004) states that the effective use of research in marketing plans can only be undertaken when the following assumptions are made:
Research is only of use to an organisation when the information is utilised to take decisions. It is a wasted technique should information not be processed.
When utilised correctly, research can provide market intelligence on strengths and weaknesses of the marketing methods in use and how effective they are in relation to consumer needs.
Research provides the most accurate understanding of the competitive landscape. This is especially relevant to the case at hand considering the highly competitive environment the product has to find its way through to the consumer.
(Birn, J Robin (2004) The Effective Use of market research, pages: 59-60)
RESEARCH METHODOLOGIES RELEVANT TO THE PRODUCT
Research techniques follow a logical course in the collation of information. There are two main forms of data collation and analysis techniques that can be used to take decisions on the product.
Secondary research techniques
The marketing manager must first look to collate published data from reliable sources. Secondary information is usually considered as the starting point for researchers as it helps create the canvas on which other pieces of information can be put together.
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