Marketing
P3: Describe how a selected organisation uses marketing research to contribute to the development.
In this assignment I will be discussing about the market research of Marks and Spencer and how it contributes to the development of market plan of Marks and Spencer.
WHAT IS MARKETING?
It is a management process through which an organisation provides its goods or services to its customers. Through marketing the organisation try to deliver and value customer, and managing customer relationships in ways that benefit the organisation and its shareholders. Marketing also includes identification, selection and development of a product, determining the price of the product, selection of a distribution channel to reach the target customers, and development and implementation of a promotional strategy. Marketing is all about to meets the needs of the customers and satisfy the needs of the customers.
WHAT IS MARKET RESEARCH?
It is the systematic gathering, recording and analysis of data about issues relating to marketing products and services. It can inform businesses’ decisions by helping the business to understand the changing dynamics of its market. It involves finding out more about customers, competitors and the overall marketing environment. Market research also allows a company to discover who their target market is and what these consumers think about a product or service before it comes available to the public. Market research may be conducted by the company itself or by a third party company that specializes in market research. Test subjects are usually compensated with product samples and/or paid a small income for their time.
There are two types of research: primary research: The research is original to the organisation conducting the research (they collected the data)
Secondary research : The research came from another source (the data had already been gathered e.g. Market research reports, trade journals, customer service records)
Within
In this assignment I will be discussing about the market research of Marks and Spencer and how it contributes to the development of market plan of Marks and Spencer.
WHAT IS MARKETING?
It is a management process through which an organisation provides its goods or services to its customers. Through marketing the organisation try to deliver and value customer, and managing customer relationships in ways that benefit the organisation and its shareholders. Marketing also includes identification, selection and development of a product, determining the price of the product, selection of a distribution channel to reach the target customers, and development and implementation of a promotional strategy. Marketing is all about to meets the needs of the customers and satisfy the needs of the customers.
WHAT IS MARKET RESEARCH?
It is the systematic gathering, recording and analysis of data about issues relating to marketing products and services. It can inform businesses’ decisions by helping the business to understand the changing dynamics of its market. It involves finding out more about customers, competitors and the overall marketing environment. Market research also allows a company to discover who their target market is and what these consumers think about a product or service before it comes available to the public. Market research may be conducted by the company itself or by a third party company that specializes in market research. Test subjects are usually compensated with product samples and/or paid a small income for their time.
There are two types of research: primary research: The research is original to the organisation conducting the research (they collected the data)
Secondary research : The research came from another source (the data had already been gathered e.g. Market research reports, trade journals, customer service records)
Within