The goal of research is to understand how things work and turn that knowledge into the development of new processes and products. For example, look at the way PayPal revolutionized the online exchange of money. The market research could have been as simple as asking a few neighbors if they would buy more online if it were safer and easier. It also could have been as complicated as surveying thousands of people and building and testing prototypes in a multi-phased development cycle. Without research, though, the need for PayPal would not have been recognized and the exchange process not simplified.
Another example is how critical market research can be captured during the exchange process. This is commonly called POS or Point of Sale data. It includes capturing buyer Demographics and things (stores usually get this data by getting consumers to sign up for cards that are swiped at checkout or asking for a zip code at every transaction). This key information can help facilitate the exchange process because, for example, if a customer swipes their Blockbuster card and the computer recognizes that they have an overdue movie or a credit for a free movie, it can affect the amount of cash that is exchanged. This helps companies manage their customer databases better.
scope and role of marketing function in the exchange process
Marketing:Marketing is managing profitable costumer relationship. Marketing Process:The continuous process of identifying customer needs through analysis of internal/external influences and marketing research, setting objectives, and developing a marketing mix is called Marketing Process.
should envolves one party offering somethimg value (service,money.ideas.places and even persons) to another party voluntarily offeres something value in return. the essence (heart) of marketing is the exchange process among parties.
Marketing research
Some characteristics of modern marketing include the notion that marketing is not simply a science, but an art, and the idea that exchange is vital to effective marketing. Another characteristic of modern marketing is the idea that marketing is an on ongoing, continuous process.
scope and role of marketing function in the exchange process
Margaret Crimp has written: 'The marketing research process' -- subject(s): Marketing research
development of a research design
Len Tiu Wright has written: 'The marketing research process' -- subject(s): Marketing research
Marketing:Marketing is managing profitable costumer relationship. Marketing Process:The continuous process of identifying customer needs through analysis of internal/external influences and marketing research, setting objectives, and developing a marketing mix is called Marketing Process.
Usually a SWOT and/or PESTLE analysis is used in the research process for a marketing proposal.
should envolves one party offering somethimg value (service,money.ideas.places and even persons) to another party voluntarily offeres something value in return. the essence (heart) of marketing is the exchange process among parties.
Marketing research
Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.
Some characteristics of modern marketing include the notion that marketing is not simply a science, but an art, and the idea that exchange is vital to effective marketing. Another characteristic of modern marketing is the idea that marketing is an on ongoing, continuous process.
information analysis
Marketing research, according to my old tutor, is part of the process of designing the product to better suit the customer. As such it should have few disadvantages to the supplier.It is not (Edsel excepted) the process of trying to sell a product you've already designed.