Principles of Marketing Research

[jazdmarkets]

In this section of the Principles of Marketing Research, we take all that has been discussed to this point and see how marketers use this information to manage business decisions. In particular, we focus attention on the importance of marketing planning with special attention given to the role marketing strategy plays in the planning process.
For marketers planning is an essential task that must be continually undertaken. As we will see, shifting market conditions, including changing customer needs and competitive threats, almost always insure that what worked in the past will not work in the future, thus requiring revisions in how a product is marketed.
Marketing planning is also important since it is often a prerequisite for obtaining funding whether one is a marketer in a large corporation seeking additional money for his or her department or is part of a small startup company looking for initial funding.

[john21]

When conducting market research it is important to set up a series of guidelines and tables / templates to follow.

For instance i have used in the past the template DECIDE

D —- Define the marketing that you are in. (context)


E —- Enumerate the controllable and uncontrollable decision factors (work out what and what you cannot control) internally and externally


C —- Collect relevant information (this is important as much market research tends to go of the way and around


I —- Identify the target market and solutions to how you can get the best results


D —- Develop and implement a marketing plan


E —- Evaluate the decision and the decision process and setup the next stage of your business plan


another way to collect valuable information is to conduct benchmarking on a company (several) to gain a clear perspective of the market and how you can benefit from the information.

[camp185]

Benchmarking is an excellent starting point, and often is a good wake up call. Many new webmasters idealize tons of traffic for their site, when the current best in their niche can only do minimal traffic. It may not be due to quality of site or content, but simply because the audience is not really there.

[Sofia22]

Hey. Thats cool. And

I´ll take these principles as their own