Assignment:
Discussion
Why is marketing information and marketing research essential to effective marketing? Explain.
Lynn
Marketing information and marketing research are essential to effective marketing because the resulting data is directly linked to social, cultural, personal, and , psychological factors which affect consumer buyer behavior. Consumers' buyer behaviors such as motivations, perceptions, attitudes and beliefs along with buying decision behaviors inclusive of need recognition and alternative evaluation combine and move consumers between purchase intention to purchase decision to actual purchase. The actual purchase process is similar to the description of the adoption process for innovations in that it is a mental process through which an individual passes. Importantly, if marketers discover consumers evaluative processes through marketing control, information and research, marketers can influence the buyer's decision through positioning and differentiation.
Kotler, P., & Armstrong, G. (2014). Principles of Marketing (15th ed.). Upper Saddle River, NJ: Pearson Education, Inc.
Heather
A marketing plan begins with marketplace research to determine the target customer and trends of competitors. For the marketing plan to be effective, research will ideally indicate what customers needs and wants are, what they are willing to pay, and just how to make the product or service stand out. Effective research helps the company know where to sell their product or service to get the most out of their marketing plan.