3 page paper for marketing class
3 page paper on the following topics.
Marketing Research Techniques Employed
How do you monitor industry trends?
How do you monitor consumer needs and behavior?
How will you determine industry sales and market shares?
Discuss your competitive intelligence system.
Market Segmentation Strategy
Using one product or your entire organization, discusses your level of market segmentation.
Product Analysis and Strategy
How will you define your market boundaries? Will you define the markets you will serve by function? By technology? By customer type?
Discuss your use of a product overlap strategy—can two of your products serve the same customer in the same way?
Discuss your use of a product elimination strategy.
Explain the marketing strategy you do or would employ, based on the life cycle stage of a product/service.
Discuss your new product strategy.
Explain your diversification strategy.
Discuss your product portfolio (use the product portfolio matrix approach).
How does or might your organization use line or brand extensions?
Solution Preview
Market research is one of the most important components of a successful organization. For any business entity knowing what the market looks like gives them the right insight on where to base their marketing efforts. With information from the market-research organizations can evaluate their competition and analyze better ways to improve themselves to gain competitive advantage. Market research includes monitoring industry trends. Industry trends can be monitored by making frequent research in the market and ensuring to keep up to date with any news regarding the product market.
(1,143 words)