You need knowledge of the market to know where best to invest company funds into advertising and PR campaigns. If you don't know your market, you are marketing to anyone for a lot more money when you could have found a more reasonable place to advertise your message where there might be actual need and demand for your product.
Market awareness is a clear and extensive knowledge regarding a given market. It is being able to analyze or examine all the details in the market and using this knowledge to achieve success.
From the Market Research we are analyzing the future Market. For that particular process we can improve our Business and as well as getting knowledge of market status.
application of knowledge of consumer behaviour in marketing decision
1. Knowledge of self 2. Knowledge of product 3. Knowledge of company 4. Knowledge of competitors 5. Knowledge of customer 6. Knowledge of the techniques of selling
Market growth is important to any organization than market share because it shows progression.
Market knowledge is important to help businesses. If they have the right knowledge, they are able to sell to their customers better.
Effective level
Market awareness is a clear and extensive knowledge regarding a given market. It is being able to analyze or examine all the details in the market and using this knowledge to achieve success.
Increases awareness: Advertising research increases the knowledge about the market, which helps in building a brand campaign. Analyzes changing market: Knowing your customer is very important for any business. ... Public feedback: Advertising research records the feedback of your audience.
Perfect knowledge means that the customers know the past, present and the future status of the market.
Secular knowledge is more important than divine knowledge, because divine knowledge is non-provable and based on superstition.
Excel is used in a huge amount of jobs, as it is the most popular spreadsheet application, so it is useful to have at least a working knowledge of it.
From the Market Research we are analyzing the future Market. For that particular process we can improve our Business and as well as getting knowledge of market status.
Both are important. They each have their place.
application of knowledge of consumer behaviour in marketing decision
1. Knowledge of self 2. Knowledge of product 3. Knowledge of company 4. Knowledge of competitors 5. Knowledge of customer 6. Knowledge of the techniques of selling
My opinion for this day and age is knowledge.