Marketing M2
3.8 Explain the limitations of marketing research used to contribute to the development of a selected organisation’s marketing plans (M2)
In this task I will be looking at the limitations of marketing research, and to do this I will be discussing how marketing research can help develop a marking plan. I will also be looking at the weakness of development in a marking plan. I will also be comparing the two techniques, SWOT and PEST in terms of their usefulness. From this task I will be using the Business level 3 Book 1 and a few websites which will be referenced in brackets at the end of each paragraph which needs referencing.
How market research can help develop a marketing plan?
Market research can help a marketing plan because it will give you the precise and exact information on what is needed to create something successful. An example of marketing research helping a marketing plan is when Sainsbury's are bringing out a new flavoured crisp. They are doing this because the old flavour is in decline and not selling anymore. Before Sainsbury's unveil their products on their shelves, they need to be sure that the new product will sell, so they do research such as surveys, questionnaires, focus groups etc. With the information they have collected from the research, they then can bring out a product that they are sure many people would buy. Doing research helps because , they are so sure that people would like the product and this will increase the sales drastically if they use this strategy for other products as well.
What is a marketing plan?
A marketing plan is system used when bring out a new organisation, product, feature etc. Following a marketing plan can turn the thing you are creating into something successful. For example, Sainsbury's uses the marketing plan when they are diversifying. Diversifying, means creating a new product for a new market. This is risky as you are not sure, if the product is going to be successful or if it will be a complete
In this task I will be looking at the limitations of marketing research, and to do this I will be discussing how marketing research can help develop a marking plan. I will also be looking at the weakness of development in a marking plan. I will also be comparing the two techniques, SWOT and PEST in terms of their usefulness. From this task I will be using the Business level 3 Book 1 and a few websites which will be referenced in brackets at the end of each paragraph which needs referencing.
How market research can help develop a marketing plan?
Market research can help a marketing plan because it will give you the precise and exact information on what is needed to create something successful. An example of marketing research helping a marketing plan is when Sainsbury's are bringing out a new flavoured crisp. They are doing this because the old flavour is in decline and not selling anymore. Before Sainsbury's unveil their products on their shelves, they need to be sure that the new product will sell, so they do research such as surveys, questionnaires, focus groups etc. With the information they have collected from the research, they then can bring out a product that they are sure many people would buy. Doing research helps because , they are so sure that people would like the product and this will increase the sales drastically if they use this strategy for other products as well.
What is a marketing plan?
A marketing plan is system used when bring out a new organisation, product, feature etc. Following a marketing plan can turn the thing you are creating into something successful. For example, Sainsbury's uses the marketing plan when they are diversifying. Diversifying, means creating a new product for a new market. This is risky as you are not sure, if the product is going to be successful or if it will be a complete