Marketing research
Research helps to make sales and advertising, understand the impact of promotions on consumer activity, and identify problems and opportunities.
Marketing research
Research helps to make sales and advertising, understand the impact of promotions on consumer activity, and identify problems and opportunities.
Marketing environment as an object of study
Marketing environment - a set of market actors, external forces and processes operating in the market outside the company and affecting the ability to establish and maintain successful cooperation relationships with the company's target customers
The marketing environment is everything that influences the activities of the company, being outside the company.
The marketing activity of the company, as well as marketing management, is completely based on knowledge of the marketing environment. Ensuring the right fit between the environment and the company is the essence of marketing and an important task of marketing. The company must know how the environment around the company is developing, what trends are manifesting in it and how the environment will respond to changes in society, ecology, state, technology, and so on.
Only by studying the environment and analyzing the processes, relationships and trends taking place in it, the company can cope with the tasks of a strategic response to the environment. The firm's response to changes in the external environment may be the development of alternative programs and strategies. Correct response is possible only with timely, high-quality research and analysis of the environment.
The purpose and objectives of the study of the marketing environment
The overall goal of market research is to reduce risk in decision making by helping management understand their uncertain and changing market. To make the right marketing decisions, it is important to understand the desires and aspirations of consumers, the aspirations of competitors.
Tasks of researching the marketing environment
Know where the environment is going; observe and evaluate relevant events and trends in the environment.
Determine which events and trends are favorable from the point of view of the company, and which are unfavorable; find out the opportunities and threats hidden in seemingly random events and clearly observable trends;
Predict what the environment will be like in the future;
Assess the scale of various opportunities and threats;
To help ensure the right fit between the environment and the company, which is the essence of marketing; help the company respond with strategy development; contribute to the correct formulation of the marketing strategy - in accordance with the trends in the environment and the opportunities that arise in it.
Marketing Research Functions
Research function. If marketing professionals have a limited understanding of the marketing situation, for example, a company may be losing customers or sales may be declining and managers do not understand why this is happening, then marketing research can be used to investigate some of the possible reasons for the loss of sales or customers.
descriptive function . Otherwise, it is called a descriptive or illustrative function (translation difficulties). Marketing research often performs the task of compiling a description of a particular object or situation, according to the data identified as a result of the study. For example, the indicator of the audience size of any market segment known to researchers does not provide a basis for making marketing decisions, since it requires a description of the gender, sex and age composition of the audience, and also requires an understanding of shopping habits. The description of the target audience, compiled according to the data of various studies, is a descriptive function of marketing research.
The diagnostic function of marketing research is especially useful in many situations. Here, data analysis methods are used to explore the relationships between data and phenomena of a different order, collected in the course of marketing research. For example, market research can be used to identify reasons for abandoning a purchase when the research reveals a decrease in sales, but the meaning of the findings is not clear and needs to be identified.
The predictive function of marketing research allows you to use data to predict the received data and market reactions, consumer actions resulting from made or not made marketing decisions. Retailers and marketers use predictive research to determine which products a consumer is most likely to buy and which products will require sales promotions.
Macro-environment and micro-environment research
The external environment of the company is presented at 2 levels:
On the global - the macro environment;
on the local - microenvironment;
The macro environment is the global forces that shape the activities of the company: politics, the economy of the country and the world, broad social forces, socio-cultural factors, demographic factors, scientific and technical knowledge - all these are components of the macro environment.
The company's microenvironment consists of its customers, partners, competitors and other market institutions that regularly influence the company's marketing practices (banks, logistics companies, advertising companies, consulting companies).
All of the above, as such, and in the change, in the impact on the market and on the company's activities are the objects of marketing research.
How is marketing research done?
Market research may be conducted by the marketing department or by external marketing research companies. The collected information is then used to make marketing mix, marketing management or business decisions. In the process of research, the following are studied: statistical indicators, the behavior of market players, consumer behavior, the response of the market and consumers to the marketing mix and the marketing activity of the company.
You can use an email newsletter to conduct marketing research. For example, send emails with various offers and track exactly which offers will receive feedback. You can receive emails in bulk for distribution through this tool - https://getprospect.com/email-finder/bulk-email-finder . And then write a competent and attractive text and send it to email addresses.
Some of the most common marketing research involves studying market segmentation, identifying specific target markets, analyzing consumer needs and behavior, tracking customer satisfaction, and evaluating various forms of advertising and pricing tactics. But the use of market research results is not limited to the marketing department. They can be used by all levels of management to make managerial decisions.
Research in marketing is the regular collection, recording and analysis of all facts related to tasks related to marketing activities, related to marketing strategies and tactics, carried out using certain marketing research methods.
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