Marketing Essay -- Papers

Marketing Different Companies have different methods of selling their products, some companies decide to launch an item and wait for the results of the sales. Another method of selling a product is to research the market in which it is to be sold. There are various ways of conducting some market research, much depends on the item you wish to sell, the time you may have to research and the amount of money that is available. People who are expected to be consumers may be approached in order to recognise their needs, this may be done through questionnaires verbally by post or by phone once their needs are recognised it will be clearer what to provide for them. Research into the companies' product may provide information into potential competition and pricing the product. Price is of obvious importance for maximum sales and maximum profit. Researching the market may suggest that a sample should be circulated in order to address and amend any issues for example if it is an edible product the taste and smell must be considered if it is an electrical product the functions may be considered is it user friendly or practical or too complicated the right product with the wrong design will not sell and cold turn a potential profit into a potential loss. Studying peoples buying patterns will unveil ideas as to where this product should be sold, where people are more likely to buy them the consumer will have to be targeted and the product strategically planned in order to sell e.g. Haagen Dazs Good market research and prompt recognition and coherence will allow the producers to adopt relevant selling strategies and the ability to ... ...oduce enough in June 1994 and therefore decided not to use any advertising promotions. This may have been avoided if primary research had been done earlier to see what the demands of the consumers were, and the forecast of the weather. The product proved to be successful and ultimately that is what produces profits. Walls chose to conduct little primary research it may be that it was not required as Solero was a success, but it may also suggest that Walls missed out on profits of one month in an exceptionally hot summer because of lack of primary research Also arguably, Walls set out to repeat the success of Magnum in the indulgence sector but according to the impulse-positioning map Solero is purchased as refreshment and not indulgence does this mean that there is still room for a product in the indulgence sector?