How can I earn money with StudyBay? Top writers
Order Assignment
This order has already been completed on Studybay
On Studybay you can order your academic assignment from one of our 45000 professional writers. Hire your writer directly, without overpaying for agencies and affiliates! Check price for your assignment
7 bids submitted. Essay Example.

Market Research Implementation Plan

Successful business is impossible without the continuous monitoring of the market environment. But how can the managers learn about changing of customer needs, the steps of competitors, or the state of distribution channels? The answer is obvious — they should first obtain the information and manage it. In the modern world, marketing information is of great value.

Though planning is only one of the functions of the company management, but vitally important, as the business plan of the company directs its activities as a whole.

A marketing plan is a document that sets out the marketing plan of products or services. A marketing plan of the company establishes marketing goals and offers strategies to achieve them. A marketing plan is an integral part of a complete business plan of the company, and the marketing planning process should be implemented as a part of the overall planning process and budgeting of the company. Marketing plan purpose and scope are to show that there is a sufficient number of consumers of the product; to justify why consumers will prefer this goods or brand to the competitors’ ones; to emphasise the advertising strategies and commercial opportunities. A marketing plan is not considered complete if it does not include the past data, future projections, methods or strategies for achieving the set objectives.

In its simplest form, a marketing plan begins with the data collection and evaluation of the previous period. It usually contains detailed information about competitors, their strengths and weaknesses, advantages and disadvantages. Naturally, it should consider the strengths and weaknesses, achievements and failures of your company. However, these are only first steps of its implementation. Once the data is gathered and analysed it is supplemented with projections for the future involving a detailed description of strategies to achieve the goals. Thus, marketing planning is the analysis of marketing resources that will be further applied in business. It requires market segmentation, market position identification, market size forecast and the design of viable market share within each market segment.

To sum up, a properly developed marketing plan is a way to gain significant advantages in business, as well as a way to compete effectively.

Successful business is impossible without the continuous monitoring of the market environment. But how can the managers learn about changing of customer needs, the steps of competitors, or the state of distribution channels? The answer is obvious — they should first obtain the information and manage it. In the modern world, marketing information is of great value.

Related Materials
Assignment ID
100002582
Discipline
Type
CREATED ON
October 20, 2016
COMPLETED ON
October 21, 2016
Price
$41
This order has already been completed on Studybay
On Studybay you can order your academic assignment from one of our 45000 professional writers. Hire your writer directly, without overpaying for agencies and affiliates!
Check price for your Essay
Essay Example Comments
abdikarim.sheikh52
September 29, 2016
abdikarim.sheikh52
WORK-RATE rocks! Got me a straight A and I appreciate a lot for your great job. Allah bless you my friend!!! I will always use your services
monique.wyan18
September 29, 2016
monique.wyan18
Thank you
monique.wyan18
September 29, 2016
monique.wyan18
Awesome! Awesome! writer you are