Task 2
Marketing
2.1 Marketing
Marketing is the management process which is responsible for identifying potentially profitable products and then selling them to customers.
It is important in the processes of :-
> Identifying the business within its market
> Attracting customers to the business
> Raising awareness of clients and other businesses to its presence in the market
> Overall increase of sales
> Overall expansion of the business
> Spending money to increase sales and profit
2.2 Types of Market Research
Market research is finding out as much information about the market concerned from as many sources as possible.
It allows you to collect information about competitors, about the market you are entering and the customers generally attracted to that specific market. Market research gives you the advantage of knowing more about the market, this will make you more experienced and may help you to make more professional business decisions based upon your results.
Marketing
2.1 Marketing
Marketing is the management process which is responsible for identifying potentially profitable products and then selling them to customers.
It is important in the processes of :-
> Identifying the business within its market
> Attracting customers to the business
> Raising awareness of clients and other businesses to its presence in the market
> Overall increase of sales
> Overall expansion of the business
> Spending money to increase sales and profit
2.2 Types of Market Research
Market research is finding out as much information about the market concerned from as many sources as possible.
It allows you to collect information about competitors, about the market you are entering and the customers generally attracted to that specific market. Market research gives you the advantage of knowing more about the market, this will make you more experienced and may help you to make more professional business decisions based upon your results.