Marketing Planning
Marketing Planning Assignment 1 - Jones Marine Construction Ltd. ) "Marketing Audit is a systematic examination of the marketing group's objectives, strategies, organisation and performance." Source: Marketing planning handout. Out of all the strengths (please refer to appendix) that I have identified, there are a few strengths that are important for JMC. Initially, JMC is a financially secure firm that has been in business for over twenty years. Therefore, to capitalise on the suggestion made by the market consultant, I assume JMC would have the necessary funds required to set up the infrastructure and employ the necessary workforce. Secondly, JMC has a strong reputation for quality and brand value; therefore it could be that JMC's existing customers may purchase additional boats from them and/or spread their good reputation to other people through word of mouth. It is said that if a person is satisfied with a company, s/he is likely to tell four people, however s/he is dissatisfied they are likely to tell eleven people. Therefore, it is important for JMC to maintain their high standards. Lastly, JMC can produce boats according to the customer's specification which is a big advantage rather than most companies today selling boats/yachts with standard specification. Although JMC is well established and appear to be successful, they do have many weaknesses which, in my
Marketing research
Marketing research can be defined as the collection, collation and analysis of data relating to the marketing and consumption of goods and services. Market research aims to identify product development opportunity by providing information about customers, their needs and wants, their views and their uses of products and services. Market research: * Should be an ongoing activity. * Must be relevant- the information gathered should inform the marketing problems faced by the firm. * Information obtained should be recorded objectively and systematically so that the firm can draw on it at a later date. * Information must be analyzed and presented so that it can be acted on by management, research and development departments or promotion agencies. Primary research is information which does not already exist. In other words, it has to be collected by the researcher. Most primary information is gathered by asking consumers questions or by observing their behavior. The most accurate way to do this would be to ask or observe all consumers of a particular product usually known as the population. It is usual to carry out a survey of a sample of people who are thought to be representative of the total market. There are various types of primary data's used by organisations which are listed below. * Questionnaires-There are certain features that a business must consider when designing
Marketing research
Marketing research is classified in one of three basic approaches, or a combination of these. The first approach identifies the method of obtaining the required information ¡V continuous or ad hoc research. The second classifies marketing research in terms of the two essentially different types of information obtained ¡V quantitative and qualitative. The third classifies marketing research in terms of the three different purposes for obtaining the information ¡V descriptive, exploratory or casual. The European society for Opinion and Marketing Research (ESOMAR) defines market research as: "the systematic collection and objective recording, classification, analysis and presentation of data concerning the behaviour, needs, attitudes, opinions, motivations, etc. of individuals, organisations (commercial enterprises, social bodies etc) within the context of their economic, social, political and everyday activities" (Adcock; P121). The buyer is likely to go through a number of stages before completing their decision making process: Recognition of need Choice of involvement level ¡V how much time and effort does the need/want justify? Identification of alternatives Evaluation of alternatives Decision ¡V choice made Action Post purchase behaviour ¡V to resolve doubts over purchase made. Observational research is very much a Qualitative research method, which
marketing research
, Re: Development and Implementation of Master of Tourism and Hospitality Program As you may be aware the University of Newcastle is considering expanding on its current suite of tertiary programs. In October 2008, Nova Market Research Consultants were contracted to develop a Marketing Proposal to determine the market demand for the Master of Tourism and Hospitality Management program. This proposal outlines the research objectives, design, sample development and data analysis techniques of the research. On behalf of Nova Research we wish to express our appreciation for being selected to develop and conduct the attached market research proposal for the University of Newcastle. If you have any queries regarding this proposal or its content please do not hesitate to contact us. We look forward to working with you in the future. Group Marketing Research Proposal The University of Newcastle: Proposed development and Implementation of the Master of Tourism and Hospitality Management November 2008 TABLE OF CONTENTS . Background................................................................................................4 2. Problem Statement........................................................................................4 3. Research Objectives and Questions....................................................................5 4.
Marketing research
Marketing research can be defined as the collection, collation and analysis of data relating to the marketing and consumption of goods and services. Primary research is information which does not already exist. In other words, it has to be collected by the researcher. Most primary information is gathered by asking consumers questions or by observing their behavior. The most accurate way to do this would be to ask or observe all consumers of a particular product usually known as the population. It is usual to carry out a survey of a sample of people who are thought to be representative of the total market. There are various types of primary data's used by organisations which are listed below. * Questionnaires-There are certain features that a business must consider when designing a questionnaire. If it is poorly designed it may not obtain the results the firm or organisation is looking for. This was the type of research we actually used in our Young enterprise and it actually helped use to know what our customers needed. * Personal interviews-This involves an interviewer obtaining information from one person face to face. * Telephone interview-This method allows the interview to be held over the telephone. * Postal surveys- This involves the use of questionnaires sent out to consumers through post. Advantages of primary research * You collect exactly the data elements
Marketing - role in business
Market Research Marketing | mkt | n. M16. [f. MARKET v. + -ING1.] 1 The action of MARKET v.; an instance of this. M16. b spec. The action, business, or process of promoting and selling a product etc., including market research, choice of product, advertising, and distribution. L19. 2 a Something bought at a market; a purchase. rare. E18. b Produce to be sold at market. rare. L19. Marketing is the creation or enlargement of demand for a good or service by a company. Market research is the study of consumer' needs and preferences. The aim is to obtain information that will help design a product or service, so that its sales and profits can be maximized. Techniques can be simple, testing the expectations of sales staff or looking at previous sales of the same or a similar product, or at competing products. More sophisticated surveys may be conducted, by mail, telephone, or personal interview, with a population sample selected with due attention to age, sex, socio-economic grouping, or geographical location. Advertising is the use of mass media to carry messages for a commercial purpose or to advance a product or service; it can influence the pricing, packaging, design, display, and sales of a product. Most advertising is produced through national agencies, which employ copywriters, art directors, jingle writers, video producers, production specialists, market researchers,
Marketing Strategy.
Task 5 - Marketing Strategy Marketing is making it as easy as possible to get the potential customer to buy a product. In marketing there is a term called the four Ps, which represent: - Product - Price - Promotion - Place The four Ps form the basis of the marketing mix. Getting this mix right is critical in order to successfully market a product. Product The business must come up with a product that people will want to buy. The design of the product must be fit for its purpose. The product name must be a good name too. There must be a good product range to give your customers options. Price The price of the product must be a good one because, no matter how good the product is, it is unlikely to succeed unless the price is right. This does not just mean being cheaper than competitors. Most people associate a higher price with quality, so you would expect to pay more for e.g. a Rolls Royce than for a Lada. On the other hand, is one product worth more than another one of its alternatives? The business must look at the price very carefully to see if they have made the right decision. Promotion The product must be promoted because potential customers need to be aware the product exists. The main aims of promotion are to persuade, inform and make people more aware of a brand, as well as improving sales figures. Advertising is the most widely used form of
MARKETING STRATEGY
Introduction Background of the Firm I have chosen to critically assess and evaluate Carib Brewery strategic orientation, marketing activities and operational activities. It is a firm I am familiar with having done prior research on the company and being from the Caribbean region where this company operates primarily. My analysis of this firm is based on previous and recent interview and questionnaire sent to this firm marketing department. Carib Brewery ltd is part of the Ansal Mc Al Group of Companies. Carib Brewery was previously known as The Trinidad Brewering Company and then the Caribbean Development Company launched in 1950. Today Carib Brewery and it sub brands are enjoyed in 32 countries around the world and has grown to become one of the largest breweries in the Caribbean. In 1973 the brewery expanded its product range and began producing non-alcoholic drinks. The brewery currently has a capacity of over 400000 hectolitres per year; this expansion has facilitated the brewery exporting its products to regional and international markets. For analysis sake I must established that on a local or regional scale this firm would be considered to be a large organisation but by international standards for brewery operation this firm would be seen as a small or medium size organisation from a developing country. This fact would be a basis for a number of analysis and
Market research
UNIT 12: INTRODUCTION: * In order to complete this unit, Market Research course work, I will need to explore the principles of Marketing Research. To do this effectively I will need to select a product and appropriate method of data collection and plan research for the product I have selected. * I need to carry out a survey on both primary and secondary research with the use of an identifiable sampling method. * I also need to interpret the findings on my own research and present them clearly verbally, with use of diagrams and in writing. * I also need to analyze the effectiveness of types of Market Research, including an appropriate collection of data and sampling methods. * And lastly I will analyze and evaluate on my research findings and make a conclusion on the application of selected research methods and make recommendations for improvements with regards to the research methods of the product I have selected. PRINCIPLES OF MARKETING RESEARCH Market research is the process of researching customers and market. Market research enables a company to minimize its risks and entering a new market always involves risk because it means entering the unknown. Market research simply means gathering, recording and analyzing market data to find out consumer wants and needs. Market Research Sources Desk research Field Research MARKET RESEARCH OR SURVEY METHODS PRIMARY
Market research.
Section 3 Market research is finding out as much information about your market as you can, from as many sources as possible. To a firm market research is: - * Collecting information from its own records. * Collecting information about competitor firms. * Collecting information about the market in general. * Collecting information about consumers. Bringing all this information together in order to make marketing decisions. This data can be divided into two sections primary and secondary data. Primary data is data, which is gathered freshly by you or o9ne of your employees. There are several ways to collect primary data, Face to face: - this is the oldest but still most widely used form of collecting data. An interviewer, with a printed sheet of prepared questions, approaches a member of public in order to carry out a street interview. This is generally used to collect quantitative data. One on one: -these differ from face to face interviews in that the interviewer is not using a questionnaire, instead a series of questions is asked in order to obtain in depth reactions to a product or service. Instead of in the street, these interviews will take place in the comfortable surroundings of an office or home environment, because of the time taken and the inconvenience of the respondent it is likely they will be rewarded in some way, they maybe directly paid for their