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Marketing is largely neglected in the areas of small business management, and is also neglected by small, independent businesses. Marketing research is often overlooked because of the complexity usually associated with it. This is only a misconception, because the attempt can be made directly through marketing research, which is easily utilized by small companies.

Marketing research is just planning to help determine the specific marketing strategy for a particular business. A marketing strategy should be designed by all members of the company to meet the needs and needs of their customers and provide appropriate guidance to their employees.

The business also depends on the market or markets it serves. There are basically four main types of retail markets:

1. An exclusive store

2. A specialty store

3. Regular store (which has by far the largest share of customers)

4. Discount store

For a good marketing manager to gain a thorough understanding of the specific market segments in which his companies will try to sell their goods and services. He must also know the competitive position with respect to other companies, as well as the advantages and disadvantages of his company in the market. Marketing can be helpful in all of these things. A research marketing project consists mainly of four steps. They can be described, in the order of their realization, as follows:

1. Develop a questionnaire

2. Designing a pattern

3. Data collection and tabulation

4. Preparation of analysis or forecast

These basic steps should reveal the company’s current market share and provide an empirical basis for its future growth. The information gathered must be used either to reduce costs through more efficient expenditures or to increase revenue by expanding sales. Therefore, Medical Representative is a tool for better pharmaceutical marketing, which gives the company a competitive edge by providing a better understanding of customer needs and attitude.

Desired information

A small businessman fears obtaining marketing information, which is not a difficult task. To make it easier, you should develop a questionnaire to find the answers to the following questions:

1. Where {individuals go shopping?}

2. WHY {do they go there?}

3. WHAT {is the market potential of this business?}

4. HOW does this company compare to its competitors?}

5. ADVERTISEMENT {How effective is it right now and how can it make it more productive?}

6. SERVICES {what does the job provide?}

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by Dr. Sudhinder Singh Chowhan

 

 

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