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Marketing Research And Strategy Marketing 421

872 words - 4 pages

Marketing Research and StrategyWhen marketing a good or service marketing research and marketing strategy must coincide with one another. Marketing research is defined as "research that gathers and analyzes information about the moving of goods or services from producer to consumer" (www.thefreedictionary.com). Marketing strategy is defined as "The articulated plan for the best use of an organizations resources and tactics to meet its marketing objective" (www.fluidcommunications.biz/marketing/marketing_definitions.htm). In an article titled "10 Tips for Marketing Success" written by Kimberly McCall discusses the importance of different marketing strategies and research as well as useful ...view middle of the document...

Another tip for marketing success from the author is "don't try to be an expert at everything" the article states, "Small-business people are inherently self-sufficient". The author makes the suggestion that new business owners should outsource different task and projects that are either too time consuming or outside of you comfort range.The author states in the article that "Getting a new customer is five times more expensive than retaining a current customer". Market research suggests that you should use your past and current successes to attract new business. The happiness of your customers is essential for business survival; you should make them feel appreciated every chance you get. However, according to the article not every customer is worth keeping. "You cannot be all things to all people. Sometimes you have to let customers go, and refocus energies on those clients who are a better fit for your business" (McCall, 2000). Another tip by the author is "Don't be rushed into making decisions, if your marketing and media plan is in place, there is no reason to make hasty buying decisions". The article suggest that the marketing and media plan if done properly will help your budget stay on track throughout the year. Another tip by the author is to not abandon your marketing and advertising too quick. "Just because you are tired of an ad doesn't mean its time to pull it, your prospect probably hasn't even noticed it yet. Don't expect overnight success...

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