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Title: Marketing research can play an important role in ensuring that a business survives in the market. Discuss the requirements for successful marketing research and explain how businesses should use the information to present an argument in favor of the need
Description: Marketing research can play an important role in ensuring that a business survives in the market. Discuss the requirements for successful marketing research and explain how businesses should use the information to present an argument in favor of the need for competitor analysis
Description: Marketing research can play an important role in ensuring that a business survives in the market. Discuss the requirements for successful marketing research and explain how businesses should use the information to present an argument in favor of the need for competitor analysis
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Marketing research can play an important role in ensuring that a business survives in
the market
...
2
Literature review
...
3
-
Requirements for successful marketing research
...
5
Discussion
...
9
Bibliography
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Page 1 of 12
Introduction
The most important mission for every organization is to understand its markets
...
The management of research process should be focusing on specific areas
that would be enhancing the capabilities of the organization to strengthen its positioning
within the market
...
The
relationship between the marketing research and competitiveness of organization is
based on the fact that the organizations, which conduct a marketing research, would be
able to understand the needs and demands of the customers, as well as the main
competitiveness of the rivals, which will allow the organization to override its rivals
...
The
competitive advantage is considered to be gained by an organization over its rivals, as a
result of being able to provide the customers with a greater value and ensure that the
offering of the organization would be more attractive than the rivals’ offerings
...
According to Winer (2004), the
effective competitive advantage should be generating value for the customers, the value
should be perceivable by the customers, and, finally, the competitive advantages should
not be easily imitated by rivals
...
The following paper would be discussing the importance of the marketing
research role within the organizational survival and its impact over the competitiveness
of the organization, while highlighting the approach that the organization should follow
for the enhancement of the organizational successful marketing research process
...
For instance, the changing nature of the customers’ needs and
wants would be requiring various changes within the organization programs to
continuously satisfying its customers (Rostro & Grudzewski, 2008)
...
The conduction of the
marketing research should be realized as a systematic, logical, and rational process,
which focuses on the gathering and assessment of the data that regarding a specific
marketing situation
...
The marketing research
effectiveness can be ensured throughout conducting the researches within a Resource
Based View
...
In addition, marketing research should be identifying the
various changes that take place within the markets’ assets and capabilities
...
On the other hand, the product
development is recognized as one of the main approaches that should be followed by
the organizations, for the purpose of the attainment of higher positioning within the
market
...
For instance, the main purpose of the product development process is
Page 3 of 12
to encourage more customers to acquire the products, which would be conducted only
throughout the identification of the needs and changing demands of the customers,
which would be facilitating the development of the products in the direction that would
be more attractive to the customers (HAFSTRAND, 2002)
...
For ensuring the success of the
marketing research, there are different approaches that should be conducted
...
For instance, the diagnoses of the problem would be ensuring that
enhancement of the organizational awareness of the causes and the background of the
problem, which would be providing the organizational marketing management with
greater ability to solve them with the most effective and appropriate solutions
...
Finally, the
marketing research process should be focusing on the deployment of the marketing
research in a strategic perspective, as well as taking an integrative approach throughout
its implementation (Wind & Mahajan, 1999)
...
The
organizational marketing management should be identifying the problem/s, which the
management seeks to solve
...
Furthermore, the following steps would be to collect, interpret, and report the data,
which would be directed to the decision makers, such as; the marketing managers and
the executives of the organization (Viardot, 2004)
...
For instance, the marketing research is considered to be identifying the
most effective path that should be followed by the organizations, which faces specific
problems
...
In other words, the marketing
Page 4 of 12
researchers would be seeking to clarify the appropriate approach for creating or
modification of the organizational strategies and objectives, so that the organization
would be able to achieve its goals (Wilson & Stacey, 2014)
...
The first strategy is considered to be the
ad hoc research, which is formulated and implemented for the purpose of researching a
specific situation, which required detailed analysis
...
-
Marketing research and competitor analysis
As it had been mentioned in the above section, the marketing research can be
deployed for gathering information about the competitors, which would be assisting the
organization in measuring its performance (Ehmke, 2008)
...
According to Kalirai (2002), small and medium organizations can only be surviving
within the international intense competition throughout the formulation of effective
strategies that would be positioning the company brand and image over the competing
firms
...
Because the organization is consisted of many departments,
employees, and managerial levels, the marketing researches should be focusing on
serving those internal customers, as well as the external customers
...
These improvements
would be ensuring that the entire organizational value chain members would be
Page 5 of 12
contributing successfully within the strengthening of the relationship between the
customers and the organization
...
The analysis of the
competitors’ analysis can be conducted throughout the researching of the data from the
internet, competitors marketing communication channels, trade show displays, and
even from the customers themselves
...
According to Ellig (2001), the success of the companies within the intense competitive
markets would be based on the organizational capabilities to be aware and sensitive to
the needs, wants, tastes, and preferences of the customers, as well as higher ability to
innovate new products to meet those changing dynamic variables
...
In addition, the organizational marketing management should be
focusing on the development of various alternative sources for the data and information,
which would be ensuring the accuracy and the reliability of the data
...
Discussion
Starbucks Café is considered to be one of the US brands that succeeded in
invading many markets throughout the effective marketing researches
...
That information provided the management of Starbucks Café to
effectively choose appropriate locations and image for their stores before invading the
markets
...
On the other hand, Worthington Co
...
Throughout the survey, the organization became aware of its customers’
retention ration, as well as reformulated its marketing strategies for attracting more
customers for the purchase of its products (Loudon, Wrenn, Stevens, & Silver, 2013)
...
Based on this information, the management
of Ford Motors Company is committed to the sustainable reformulation of its production
processes, while ensuring the highest quality control systems applied, for enhancing
organizational efficiency, as well as ensuring the provision of affordable prices for its
products (Babin & Zikmund, 2012)
...
Harley Davidson focused on the development of
an effective marketing research plan for each international or foreign market, where the
organization will be operating
...
For instance, the Indian people
were more attracted to the scooters than the hogs, for its lower prices and higher
efficiency
...
The entrance of
Harley Davidson in Indian markets became considered as one of the major successes
of the organization overseas (Babin & Zikmund, 2012)
...
One of the companies that became aware of this fact is
Fisher-Price Incorporation, which dedicates a percentage of its sales yearly to the
Page 7 of 12
marketing researches activities and processes
...
At the same time,
the organization succeeded in ensuring the sustainability of the organizational success
within the markets, throughout tightening the researches efforts to the most valuable
activities that would be inevitable for the businesses’ growth (Krishnan, Grewal, &
Parasuraman, 2006)
...
For instance, 7-eleven Company had
been formulating continuous communication processes, which link between the decision
makers of the organization and the entire franchised and owned stores of the
organization, throughout high technological information systems
...
These data and information are considered to be
essential for the assisting the organization within the allocation of the organizational
products and services to the customers worldwide (Krishnan, Grewal, & Parasuraman,
2006)
...
During the introduction of the new product, the
organization focused on gathering an appropriate sample for the survey, for testing the
quality of the products and its attractiveness
...
The main reason for the
failure of the New Coke product is the fact that the researching team failed to highlight
to the respondents of the survey that the new product will be replacing the old product,
which had been enjoyed by all of the customers
...
The mistake
of the marketing research costed the company billions of dollars, as the mistake was not
discovered until the new product had been launched on an international base (Patzer,
1996)
...
Successful
marketing research would be ensuring the success of the organization to retain its
customers, override its rivals, and maintaining a high positioning within the minds of the
customers
...
For
ensuring the success of the organizations within the marketing research processes,
there should be application for the information systems and information technology for
the gathering and assessing of the data, which would be collected from different
sources, while ensuring the accuracy of the researching data
...
The effective marketing research processes would be providing the
organization with a high domination over its rivals and a superior competitive advantage
within the current and potential markets
...
Organizations should be focusing on the
use of most advanced information systems that would ensure the success of the
organization within the marketing research processes
...
Page 9 of 12
Bibliography
Arnett, D
...
(2006)
...
Retrieved from
http://sdh
...
ttu
...
pd
f
Babin, B
...
(2012)
...
Cengage Learning
...
...
eg/books?id=xagktDjXcZ0C&dq=successful+marketing
+research&source=gbs_navlinks_s
Bidgoli, H
...
The Handbook of Technology Management, Supply Chain
Management, Marketing and Advertising, and Global Management
...
Retrieved from
https://books
...
com
...
(2012)
...
Journal of Management and Marketing
Research
...
aabri
...
Ehmke, C
...
Strategies for Competitive Advantage
...
Retrieved from
http://valueaddedag
...
Fahey, L
...
, & Kumar, R
...
The Resource-Based View and
Marketing: The Role of Market-Based Assets in Gaining Competitive Advantage
...
Retrieved from
http://ink
...
smu
...
sg/cgi/viewcontent
...
(2012)
...
Page 10 of 12
Research by Design
...
researchbydesign
...
au/media/RBD-WhitePaper-CompetitiveAdvantage
...
(2002)
...
University of Gothenburg
...
nordicom
...
se/sites/default/files/kapitel-pdf/42_291-300
...
, Grewal, D
...
(2006)
...
Cengage
Learning
...
...
eg/books?id=G9gTZLV50u4C&dq=successful+marketi
ng+research&source=gbs_navlinks_s
Loudon, D
...
, Stevens, R
...
(2013)
...
Routledge
...
...
eg/books?id=NPtFnC_Y0_EC&dq=successful+marketi
ng+research&source=gbs_navlinks_s
Matti, J
...
CREATING COMPETITIVE ADVANTAGE THROUGH ONLINE
MARKETING: CASE INTERAXIONSPLUS OY
...
Retrieved from
https://theseus
...
pdf?sequence=1
Patzer, G
...
Experiment-research Methodology in Marketing: Types and
Applications
...
Retrieved from
https://books
...
com
...
, & Grudzewski, W
...
Marketing Strategic Planning as a Source of
Competitive Advantage for Mexican SMEs
...
Retrieved from
http://www
...
pl/wydawnictwo/files/marketing
...
(2004)
...
Artech House
...
...
eg/books?id=suLOB1razyUC&source=gbs_navlinks_s
Page 11 of 12
Wilson, A
...
(2014)
...
Routledge
...
...
eg/books?id=zTeDBAAAQBAJ&dq=successful+marketi
ng+research&source=gbs_navlinks_s
Wind, J
...
(1999)
...
MARKETING RESEARCH
...
warrington
...
edu/williams/mar_6648/MAR_6648_Readings_files/rx%
20for%20marketing%20research
...
(2005)
...
iUniverse
...
...
eg/books?id=73eSezp7sAC&dq=marketing+research+and+competitor+analysis&source=gbs_na
vlinks_s
Zhenjia, Z
...
Study on Competitive Advantages of Starbucks Surfers’ Paradise
Coffee Shop
...
Retrieved from
http://cscanada
...
php/mse/article/viewFile/j
...
1913035X20120603
Title: Marketing research can play an important role in ensuring that a business survives in the market. Discuss the requirements for successful marketing research and explain how businesses should use the information to present an argument in favor of the need
Description: Marketing research can play an important role in ensuring that a business survives in the market. Discuss the requirements for successful marketing research and explain how businesses should use the information to present an argument in favor of the need for competitor analysis
Description: Marketing research can play an important role in ensuring that a business survives in the market. Discuss the requirements for successful marketing research and explain how businesses should use the information to present an argument in favor of the need for competitor analysis