Marketing Types of Analysis: strengths and weaknesses
Not what you're looking for?
Marketing
? Identifies the different types of analysis used by marketers to determine product positioning, competitive positioning, customer perceptions, and distribution-channel analysis.
? Compare the strengths and weaknesses of each method and assess the different types of marketing analysis required to develop a marketing strategy.
Sources for cited information.
Purchase this Solution
Solution Summary
The marketing types of analysis strengths and weaknesses are examined.
Solution Preview
Description of Marketing Analysis
Marketing analysis can be described as the way through which the marketers evaluate the suitable market for the introduction of new product. Whenever a new business or a new product is launched, it is important to conduct a marketing analysis in order to determine the need of product. The goal of market study is to know the trends of market (Conduct a Market Analysis, 2008). The objective of the company to do market analysis is to determine the attractiveness of a market and to recognize its developing threats and opportunities. It is important to outline the dimensions of a market analysis like size of market, market growth rate, market profitability, market trends and key success factors (Market Analysis, 2008).
There are various types of analysis used by the market researchers for the product positioning, competitive positioning, customer's perception, distribution channel analysis, etc. (Boone & Kurtz, 2005).
Product positioning should be considered that how the product is being placed in the market. If the company opens some discount stores it should keep the prices low (Boone & Kurtz, 2005). It also depends on the target customers. If the company targets high class customers the pricing will naturally be high. If it targets all the customers then reasonable pricing should be kept which will be in favor of all the people. The importance of Product positioning lies in the fact, that, it is used as a communication tool to attain target customers in the market place (Ries & Trout, 2000).
It involves the comparison of products with those of competitors on the dimensions that can generate useful information for the success. It begins with a product and the aim is to position the product the consumers' mind (Kotler, 2002). The message about a product should be delivered clearly in a simple manner, in a way that the consumer belief is strengthened, avoiding information overload (Ries & Trout, 2000).
The things to consider are no two segments should be approached with same strategy and be on the lookout for vacant areas as best opportunity lies there. It can be concluded ...
Purchase this Solution
Free BrainMass Quizzes
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Motivation
This tests some key elements of major motivation theories.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking