Marketing Research Example Paper

Marketing Research Example Paper

• What is marketing”? Think back to your impressions before you started this class versus how you would answer now that you are being introduced to the marketing world.
• Is marketing all about sales and profits, or is it about advertising or public relations, or is it about something else?
• Share your point of view about the meaning and role of marketing and customer relationship management.
• To explain, try to think of examples of companies you have relationships with — dry cleaners, a candy bar company, insurance company, or restaurant chain?  Why do you keep going back (or why not)?Marketing Research Example Paper

What is marketing”? Think back to your impressions before you started this class versus how you would answer now that you are being introduced to the marketing world.

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Before I began class, I thought marketing is the process of management through which services and goods get moved to the customer from the concept. It comprises the organization of 4 P’s which are; Promotional strategy, product, place, and price. I currently think that there are several definitions that show what it is, such that, marketing is an organization’s activity that gets associated with the selling and buying of a service or product (Baker, 2016).Marketing Research Example Paper

 Is marketing all about sales and profits, or is it about advertising or public relations, or is it about something else?

These aspects all interlock and are all interdependent in that marketing is not about any one of these points. As principles go, if one cannot make a sale, one cannot make a profit, and in turn, a sale cannot be achieved if the buyer has no info regarding a particular product or maybe knows it negatively. Hence, marketing is about profits, sales, public relations and advertising, all put together (Clark et.al, 2016).

Additionally, one cannot make a sale if the client does not find a product and if a customer does not find a product, then there is no distribution network. Finally, direct sales are not acquired if there is no sales staff. 

 Share your point of view about the meaning and role of marketing and customer relationship management.

Customer relationship marketing (CRM) is a process of business in which brand value, customer loyalty, and relationships with clients get built via marketing activities and strategies. CRM gives room to enterprises to advance long-term relationships with both new and established clients while helping corporate performance that is streamlined (Kawsar & Raj, 2017). 

 To explain, try to think of examples of companies you have relationships with — dry cleaners, a candy bar company, insurance company, or restaurant chain?  Why do you keep going back (or why not)?

I keep going back to my dry cleaner’s factory because of its professionalism and work ethics. The workers are upfront and reliant at all times and the services offered are without a doubt the best in the market. The work gets typically done on time hence my satisfaction with them.Marketing Research Example Paper

References

Baker, M. J. (2016). What is marketing?. In The Marketing Book (pp. 25-42). Routledge.

Clark, T., Ferrell, O. C., Hartline, M., Sheth, J., & Stewart, D. (2016). Where/How Does Marketing Fit? What Is Marketing’s Place in the Firm and Within the Family of Business Disciplines?. In Let’s Get Engaged! Crossing the Threshold of Marketing’s Engagement Era (pp. 199-202). Springer, Cham.

Kawsar, M. D., & Raj, R. (2017). Customer Relationship Marketing Tool for Growth of Religious Tourism Business: An Islamic perspective.

Some people use ‘marketing’ as a fancy word for ‘selling’. Of course selling is part of the marketing process but marketing is much more than that. Or they use the word for all kinds of promotion and advertising. Again, these are part of marketing but not the whole thing.

Actually, marketing is much bigger and broader than promotion, advertising and selling. At its most comprehensive, marketing is an umbrella term that includes an enterprise’s position among rivals in the marketplace, its competitive advantage and its selection of viable market segments it will serve.

Having selected particular market segments (and by implication, chosen positively not to deal with other market segments), marketing also includes communicating with customers in those selected markets.Marketing Research Example Paper

This communication is a dialogue, not a monologue. In other words, marketing has to include listening to customers – or market research.

Only then do we proceed to crafting precise messages, tailored to the needs of different types of customers. Each of these messages is then delivered using the most appropriate medium in the circumstances.

These precise marketing messages are designed and delivered according to a technique called the ‘3Ms of Marketing’.

So, we must understand that marketing is much more than promotion and selling. It is a way of looking at the whole business in relation to markets. Using the full range of marketing tools, we can achieve success by maneuvering effectively among st competitors and serving our chosen customers effectively.

To achieve success in our enterprises we need to use all aspects of marketing: strategic marketing, competitor analysis, market positioning, market research and finally, delivering marketing messages.Marketing Research Example Paper