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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.

Assignment ID
100002582
Discipline
Type
CREATED ON
27 October 2016
COMPLETED ON
28 October 2016
Price
$41
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27 October 2016
User posted an order for Other
27 October 2016
18 writers responded
27 October 2016
User contacted writer bena
27 October 2016
User hired writer bena who offered a price of $41 for the job and has experience doing similar assignments
28 October 2016
Writer completed order Market Research Implementation Plan for 1 day, meeting the deadline
28 October 2016
User accepted the job right away and completed the payment
28 October 2016
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