Marketing Analysis : Marketing Management

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

As I reflect back over these last five weeks I now have a clearer view of marketing and how it affects not just the consumers of the world and the companies with their marketing managers, but how it affects me. Yes, I am a consumer who clips coupons, budgets my finances, and looks for sale items and this marketing class has taught me that marketing is more than selling or advertising. Marketing managers have a difficult job, as marketing involves identifying, meeting and satisfying the needs of customers or clients with goods and or services. Coming up with different strategies and marketing mixes is challenging because we live in a changing world with people who needs and financial situations are different. Yet still marketing engulfs every part of our daily lives. From what type of breakfast we eat, to where we shop, and even in our work environment. As I examine marketing, I will blend aspect to my career path as I make myself marketable for the future and aid my employer in the growth and survival in the economy.

This gives businesses the opportunity to create product differentiation strategies that will help them establish and maintain a competitive edge in the market. This information also helps identify specific opportunities for further growth and development with existing products and services as well as potential opportunities for new products and services. The data gathered in this way helps businesses create successful marketing strategies that will appeal to customers personally and help promote great brand recognition. This area is so intriguing and worth more knowledge and development because it creates opportunity to get a better understanding of how people personally identify with the product or service they use and the why behind it. This method goes against the grain of management skills in which they stress the idea behind information is only as valuable as the money it can produce as this often refers to concrete numbers or dollars and sense and qualitative data is not captured in that way. It brings back the idea of getting to know your customers on a more personally level which helps to build trust and relationships that can be lost when looking at big box industries.

The purpose of this study is to determine the benefits and challenges of collecting consumer data. Collecting consumer data has become increasingly popular for many businesses. Its main purpose is simply to give a business a strategic advantage over their competitors. But how is this possible and why do businesses rely on consumer data as a source for competitive advantage? Even though there are many methods that can be used to create a competitive advantage over the competition within an industry, collecting consumer data has been proven to be one of the most efficient and successful techniques. The purpose of this research project is also to analyze how companies put consumer data to use and how companies benefit from collecting consumer information. Ultimately, the goal is to understand the benefits of collecting consumer data, the challenges companies face when attempting to collect consumer data, and understanding the purpose of collecting this data in order to create a strategic advantage over competitors within the same industry.

Limitation and constraints of marketing: Accurate, up-to-date information obtained by marketing research can be of enormous value to an organization in gaining and/or maintaining its competitive edge. However, there are a number of reasons why, in reality, these potential benefits may not be realized :

Identifying the problem is the first step in the marketing research planning process. You must find out what kind of data you are looking for. There are a few different types of data to be collected such as descriptive studies or causal

In this section I will take highlights from the CIW 2013 Report to compare and contrast my findings and conclusions from my interview and survey with my marketing professional with what the report found in regards to the Marketing field.

Personality is dependent on the time and the place, therefore can massively affect the consumer’s

Although the marketing plan reflects how the company will establish and maintain profitable customer relationships, it affects both internal and external relationships. First, it influences how marketing personnel work with each other and with other departments to deliver value and customers. Secondly, it affects how the company works with suppliers, distributers and partners to achieve the plan’s objectives. At the last, it influences the company’s dealings with other stakeholders, including government regulators, the media and the community at large. Thus, marketers must consider all these relationships when developing a marketing plan.

Marketing research is a very vital part of any marketing intelligence system and helps improve the management decision making by providing information that is relevant, accurate, precise and timely. Every decision that poses unique needs for information and related strategies can be developed based on information gathered through marketing research in action. Too often, marketing research is considered narrow for the collection and analysis of data for others to use but still they come in very handy. Firms can achieve and maintain a competitive advantage through the creative use of this market information. Thus marketing research can be defined as the decisions made on the basis of input information

A well implemented marketing strategy should increase the firm's customer equity, the expected earnings from a firm's current or prospective customers. While marketing strategy planning is helpful to marketers, it requires all aspects and business departments must work parallel to create good marketing that will benefit the consumer and the business while delivering good and services that brings merit to the relationship of business and consumer. These involve the financial managers, accountants, production and personnel people and all other specialists.

They either have too much data but having a hard time figuring out the right one to use, or they do not have correct metrics. Second, some companies cannot identify a cause and effect. It is hard to decide which campaign is really working when two marketing campaigns are overlapped and somehow impact each other. Third, some companies are not able to collect enough data somehow, such as B2B companies. Forth, companies find the data-driven marketing is time-consuming or they do not have tools and resources to support it. Fifth, different companies have their own philosophies and visions. For example, some companies consider marketing metrics will hurt marketing creativity, and some companies do not even care about the marketing results but focused mainly on marketing activities.

B2B Content Marketing and Statistics. Business to business marketing faces challenges not found in the business to consumer environment. As stated in the B2B Environment and

I'm going to step out on a limb and include one more thing that you don't want to ignore when plotting your marketing budget. Your promotional items. Whether they be

As India delves into an accelerated economic path, creating more employment and hence a bigger