StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Marketing information to run business - Essay Example

Cite this document
Summary
The purpose of the paper “Marketing information to run business”  is to make a detailed list of the marketing information that the author believes would be useful for marketing decision making and indicate how it may be used. He takes some marketing research and, most importantly, a marketing plan…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95% of users find it useful
Marketing information to run business
Read Text Preview

Extract of sample "Marketing information to run business"

Download file to see previous pages

Rufedge also needs marketing research.  “Market research is the process of systematically gathering, recording and analyzing data and information about customers, competitors and the market. Its uses include to help create a business plan, launch a new product or service, fine tune existing products and services, and expand into new markets” (Wikipedia 2008). Task 2Livlong needs to be advised how an understanding of market segmentation might help him improve his business prospects.

  The purpose of this task is to write a report advising Livlong of this concept through discussing the appropriate segmentation criteria and provide an example of how they might be used in the health food market.“A market segment is a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs. Market segmentation is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs.

Because each segment is fairly homogeneous in their needs and attitudes, they are likely to respond similarly to a given marketing strategy. That is, they are likely to have similar feelings and ideas about a marketing mix comprised of a given product or service, sold at a given price, distributed in a certain way and promoted in a certain way” (Wikipedia 2008).Health food stores tend to cater to a vastly different segment than do traditional stores.  For example, look at Whole Foods Market compared to Albertson’s. . Market segmentation is the process in marketing of dividing a market into distinct subsets (segments) that behave in the same way or have similar needs.

Because each segment is fairly homogeneous in their needs and attitudes, they are likely to respond similarly to a given marketing strategy. That is, they are likely to have similar feelings and ideas about a marketing mix comprised of a given product or service, sold at a given price, distributed in a certain way and promoted in a certain way" (Wikipedia 2008).Health food stores tend to cater to a vastly different segment than do traditional stores. For example, look at Whole Foods Market compared to Albertson's.

Albertson's sells popular items of various content, while Whole Foods looks to sell only organic and healthy foods. Therefore, the type of person who would seek out Whole Foods would more likely be health-conscious and could even be a vegetarian or dieter.Task 3 Livlong claims that many of the managers in the company are ignorant of issues concerning consumer behavior. He believes this problem could be solved it managers could become more customer-oriented, which would result in increased sales.

The purpose of this task is to consider a potential seminar for the management team entitled 'Understanding consumer behavior-how it can increase our sales' and discuss how it can increase sales, provide details of the issues to be presented, and provide practical examples that could illustrate the talk. "Consumer behavior is the study of how people buy, what they buy, when they buy and why they buy. It blends elements from psychology, sociology, sociopsychology, anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Marketing information to run business Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Marketing information to run business Essay Example | Topics and Well Written Essays - 750 words. Retrieved from https://studentshare.org/marketing/1500867-marketing-information-to-run-business
(Marketing Information to Run Business Essay Example | Topics and Well Written Essays - 750 Words)
Marketing Information to Run Business Essay Example | Topics and Well Written Essays - 750 Words. https://studentshare.org/marketing/1500867-marketing-information-to-run-business.
“Marketing Information to Run Business Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/marketing/1500867-marketing-information-to-run-business.
  • Cited: 0 times

CHECK THESE SAMPLES OF Marketing information to run business

Marketing Mix Critique and Analysis: Masters Home Improvement Stores

Marketing Analysis In a modern business environment, businesses are finding it harder to navigate through the market and satisfy the consumers' needs as the number of issues in the marketing environment increases.... Competitors are becoming more aggressive in their approach to selling their products to the customers (USA International business Publications, 2007).... Bunnings has already taken a remarkable place in the electrical product sales business and Masters Home Improvement improve in this sector ....
9 Pages (2250 words) Assignment

How to Use Marketing Strategy to Improve Sunform Supermarket's Performance

This essay stresses that a business should first focus its attention on nurturing, retaining and growing its existing customers before planning to spend more on new customers.... This will create an image for the business in the minds of customers, which in turn will grant it market ownership in the future.... By strategically applying the product, place, price and promotion tactics into the business, and by communicating effectively those promotions, it can influence customer's choice and reach its ultimate goal of increased sales followed by high profits....
16 Pages (4000 words) Dissertation

Marketing- Buisness Memo

Recognizing that the operation of the business organization is largely driven by its internal strengths and weaknesses as well as the various external… The analysis will encompass a strategic audit and will utilize various strategic management tools.... Recognizing that the operation of the business organization is largely driven by its internal strengths and weaknesses as well as the various external forces in its environment, I have opted to gather the as much data about the company and the industry where it operates....
2 Pages (500 words) Essay

Information Systems and Software Applications

It has even changed the way businesses are run and how organizations are managed.... In the essay “information Systems and Software Applications,” the author discusses different software applications and systems for different departments in an organization to cater to their unique needs.... According to Independent SAP information (2010), some of the main modules of this system are as follows:These modules are further divided into smaller modules that take care of different functions in the organization for example Time management further includes shift planning, timesheet, time administration....
2 Pages (500 words) Essay

Information Systems in Business

The coursework "Information Systems in business" states that International war game hosting has several advantages, one of which is that it requires minimal investment and start up time.... Since the website will be optimized with search engines, the business will be able to pay.... hellip; The advantages of international war game hosting include the minimal investment and start-up time, the ability for the business to pay for itself quickly, the efficient, fast and powerful communication, the environmentally friendly nature of the business, the fact that the business offers automation of inventory were discussed....
8 Pages (2000 words) Coursework

The City To Surf Fun Run

The paper gives detailed information that City to Surf Fun and run is an annual road running event held in Sydney, Australia.... hellip; This paper tells that the run is scheduled on second Sunday of every August (City 2 Surf a).... The race is conducted in four categories which are Marathon, Half Marathon, 12km run and 4km run while each category has two sub-categories for male and female (City 2 Surf b).... The event calls for a large number of runners around 60,000 runners from around the world to participate in the run in different groups to promote fast runners....
11 Pages (2750 words) Case Study

Digital Marketing Communications

There is no operating cost; maintenance as well as paying employees since this system only needs one person to post information to the site.... Internet marketing 100 success secrets: online marketings most asked questions on how to manage affiliates, techniques, advertising, programs, solutions, strategies and promotion of an internet business.... Street smart internet marketing: tips, tools, tactics & techniques to market your product, service, business or ideas online....
1 Pages (250 words) Essay

Marketing Information System

The components of a marketing information System such as marketing research, internal records and marketing intelligence are most crucial when trying to obtain information on marketing (Esad, 2013 p.... This paper stands to examine the role marketing information Systems play in assisting managers with their marketing endeavors.... Putting into consideration factors such as market trends, changes and needs occurring in a market, and how the rival businesses conduct their activities is what a good marketer needs to do before venturing into a business (Michael, 2012 p....
4 Pages (1000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us