Is gathering information on a target market's consumer decision making essential to formulation of the marketing strategy?© BrainMass Inc. brainmass.com October 25, 2018, 4:35 am ad1c9bdddf
It is crucial to know the market to which you will be selling your product to in order to formulate a marketing strategy. If you had a line of clothes that were designed for working women you wouldn't want to advertise them in Boy's Life. Or if you had an upscale kitchen appliance you would be better off tying in with Martha Stewart than focusing on the K-Mart shopper. Knowing the ...
This solution discusses why gathering information on a target market's consumer decision making is essential to formulating a marketing strategy. It includes links and examples.
Starbucks, McDonalds: use market research, competitve intelligence, target consumer
Citing a specific example, how does your organization use primary and secondary market research to develop its marketing strategy. Has the Internet impacted the way your company conducts market research. Why or Why not?
What resources does your company use to conduct competitive intelligence and how often is it done? How is this information used to improve strategic decision making? Has this information helped your company maintain a competitive advantage in the marketplace? Why or Why not?
Define your company's primary target consumer/business buyer and identify at least three factors that influence their purchasing decision. How do these factors influence your company's marketing strategy? USE STARBUCKS AND MCDONALDS.View Full Posting Details