Marketing Research, Strategies And Tactics
3 Pages 767 Words
The business world is very aware that marketing is one of the most important fundamentals of any company. A company’s employees must believe that the product or service they are offering their customers is the best available on the market. Today’s business environment offers many new research strategies and tactics to keep customers informed, as well as keep tabs on customer expectations and market behavior.
Consumers react differently to promotions, communications and advertising, which is the reason different market segments are targeted by different marketing strategies. The question is how to offer the right product, at the right price, with the optimal placement, with the best possible promotion for the market. In order to properly answer that question today’s companies must invest wisely in market research. Marketing savvy companies save money, time and are more likely to be a success in their market.
There are scores of companies, such as DSS, that are dedicated to carrying out in-depth market research. DSS is a full service market research and information provider which defines market research as “the collection and analysis of data for the purpose of decision making” (DSS Research).
When the data is fully analyzed researchers are able to convey to companies market conditions and market behaviors. This knowledge enables companies to anticipate consumer response to new products and market changes. This article offers several very important reasons to believe in and properly utilized market research. As an example, when the price of making a poor marketing decision more than out-weighs an investment in market research, which plays a large part in companies losing precious market share. Good informed marketing strategies avoid these situations in todays highly competitive, often cut-throat, markets. If a company’s last marketing campaign failed, for whatever reason, market research is paramount in minimizing an...