Qualification > Commerce
Business Paper (2)
X Abdulrahman X:
nice explaination hmh +rep :)
hmh:
--- Quote from: abdulrahman101 on June 02, 2009, 09:41:58 pm ---nice explaination hmh +rep :)
--- End quote ---
thx m8, jst trying my best to help everyone...
Freaked12:
--- Quote from: hmh on June 02, 2009, 09:39:10 pm ---
--- Quote from: Freaked12 on June 02, 2009, 09:34:12 pm ---
--- Quote from: hmh on June 02, 2009, 09:31:57 pm ---
--- Quote from: Freaked12 on June 02, 2009, 09:28:50 pm ---how to plan a market research..jus answer me correctly be it of 2 lines.
what should come in Price,Place,Product,Promortion
--- End quote ---
Market research is 2 types.
-Primary which is first hand. A trusted source of information as its done by business itself. It can be done by interviews, questionnares, face-to-face.
-Secondary which is 2nd hand. Can't be fully trusted. It can be done by using external sources of info like newspapers, government analysis published in magnizes, other companies data.
The 4 P's ur saying is part of Marketing Mix but not Marketing Research ;)
Hope that helps :)
--- End quote ---
indeed a gr8 help :D..but it really meant marketing mix..
every year therez a question as to how it is planned,the marketing mix...do u kno abt?
--- End quote ---
Marketing Mix research is more about how to analyse company's own functions to be stable in market for its product. Place is where does company sells its product. It needs to identify what type of product is it and then choose where to sell it. Then, Price. It needs to set right price for its product. They can use pricing strategies for tht such as Cost plus or skimming strategy for entering in new market if its new product. then, Promotion is basically advertising the product choosing correct medium and then keeping it constant considering its cash flow internally. Then, Product itself, if it needs new editions or change something tht is faulty. Thts is mostly.
Hope that helps! :)
--- End quote ---
amazing...thankyou..but i want to ask..in place should there be channel of ditribution described as well.???
hmh:
--- Quote from: Freaked12 on June 02, 2009, 09:45:58 pm ---
--- Quote from: hmh on June 02, 2009, 09:39:10 pm ---
--- Quote from: Freaked12 on June 02, 2009, 09:34:12 pm ---
--- Quote from: hmh on June 02, 2009, 09:31:57 pm ---
--- Quote from: Freaked12 on June 02, 2009, 09:28:50 pm ---how to plan a market research..jus answer me correctly be it of 2 lines.
what should come in Price,Place,Product,Promortion
--- End quote ---
Market research is 2 types.
-Primary which is first hand. A trusted source of information as its done by business itself. It can be done by interviews, questionnares, face-to-face.
-Secondary which is 2nd hand. Can't be fully trusted. It can be done by using external sources of info like newspapers, government analysis published in magnizes, other companies data.
The 4 P's ur saying is part of Marketing Mix but not Marketing Research ;)
Hope that helps :)
--- End quote ---
indeed a gr8 help :D..but it really meant marketing mix..
every year therez a question as to how it is planned,the marketing mix...do u kno abt?
--- End quote ---
Marketing Mix research is more about how to analyse company's own functions to be stable in market for its product. Place is where does company sells its product. It needs to identify what type of product is it and then choose where to sell it. Then, Price. It needs to set right price for its product. They can use pricing strategies for tht such as Cost plus or skimming strategy for entering in new market if its new product. then, Promotion is basically advertising the product choosing correct medium and then keeping it constant considering its cash flow internally. Then, Product itself, if it needs new editions or change something tht is faulty. Thts is mostly.
Hope that helps! :)
--- End quote ---
amazing...thankyou..but i want to ask..in place should there be channel of ditribution described as well.???
--- End quote ---
No.. i dont think thts plays a great role in placing product.. Channels of distribution are more towards how company wants to increase its market of product. For example, does it find it really diffucult dealing with 1000s of consumers and tht costs a lot? so it wud then find another channel of distribution to decrease its cost and increase its profit. Marketing Mix - Place is more about getting new markets for the product. If one market is saturated with the product and now sales are going down, it wud introduce the product to new marker(new place) to increase bak sales and keep its profit high enough.
7ooD:
depends on the question 4 eg if da company mentioned is planing to sell export 2 other countries then u could say by using an agent to sell goods aboard
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