1. Describe what type of marketing research your company will need to use in order to support its marketing strategy. Create a list of questions or issues that your company will need to settle using marketing research.
2. Describe how your company will examine customer satisfaction, and what will you do to create customer loyalty?
The company will need both primary and secondary research to support its marketing strategies. Primary research is quite effective for the organization to gather the information from the consumers about the current practice sales of the company. In addition, the company will also include the comparison between competitors and its marketing strategies that will help to provide information about the competition (Pyle, 2010). There are several ways of collecting information for marketing research through primary research such as interviews (either by telephone or face-to-face), surveys, questionnaires and focus groups. Primary market research also includes the qualitative techniques through focus group discussion. Primary market research also needed to gather in-depth insights that are more appropriate than qualitative techniques. It provides the messages and perceptions of the target consumers and their needs. The market research is conducted to satisfy their needs and demands by applying marketing strategies of the organization.
On the other hand, there are several problems and issues with the primary market research that are needed to settle by marketing strategies. There are mainly three types of questions will need to settle by marketing research that are market issues, technological issues and financial issues. Market questions include the following questions:
• What will be the marketing plan?
• How the company will conduct the primary market research?
• What will be target market to implement the marketing strategies? (Nykiel, 2007)
After finding market issues, the technical questions will have to settle with the help of marketing strategies. The organizational and technical issues are as follow:
• Who will manage the marketing research to make effective marketing strategies?
• What skills and abilities are needed to manage the primary research?
• What technology and equipments will be needed to conduct the research? (McIntyre & Alon, 2005)
Finally, financial issues include several costs of conducting research such as start-up costs, operating costs, revenue projections, sources of financing and profitability analysis (Nykiel, 2007).
Consumer Satisfaction Customer Loyalty
In order to examine the consumer satisfaction, business ...
The expert examines marketing and customer satisfaction. The type of marketing research your company will need to use in order to support its marketing strategy is determined.