Free Articles  >>  Marketing >>  Page 342  >> 

The Importance of Marketing Tools in Developing a Marketing Strategy

Businesses today are very different from those of the past. Business today is far more aggressive in their pursuit of success. With the growth of the Internet, competitiveness has gone global. Millions of businesses compete everyday, and it is necessary to arm your self with the right tools to close the sale.

A business that wants to remain competitive and be profitable will need to understand the products that their target market is looking for. This kind of information only comes from marketing research. Not only will they need to understand what products should be brought into the market, but also the success of their current products. Information on what they are doing right and what could use some improvement is vital to a businesses success. It is only with the correct data that a business can create a marketing plan or adjust the one they already have.

For market research to be useful it must contain a detailed plan on the method that will be used to collect the information and how that information will be analyzed. This will ensure that there is applicable information that allows management to make the correct decisions. When the research is completed the resulting information is given to the marketing group or managers of the business. All of this information will aid the marketing team in creating the correct promotions and marketing strategies to gain the market share they are after.

There are two different types of research that is conducted when marketing research is being gathered. The first type is secondary research. This refers to information that is already available. A database is typically created to contain information related to the competitors, the market demographics, rate of use, population, lifestyle patterns and behaviors of the market audience. With this information the database can be used to create situational scenarios that will help the business determine their overall strategy.

The second type of research is called primary research. This is information that is generated through current sales and how the current marketing plan is working. The plans that the company is already working will be measured against the sales to determine if changes must be made. The effectiveness of competitors in the market is also analyzed and communicated with primary research.

The methods used to collect the data can fall into two categories. The first method is quantitative and uses an analysis that is mathematical in nature. This method uses a very large sampling of the population.

The second method of data collection is qualitative. This method uses one on one interviews to gather information about the personal beliefs and values that the user of the products has. This information is the basis of quantitative research.

In today’s competitive business world it is important to have the right data to properly develop a marketing plan. Without a plan to market products a business is set up to fail. Marketing methods and tools are the basis of the marketing strategy that a company will use to rise to the top of their market.
About Author Peter Geisheker :

Peter Geisheker is the CEO of The Geisheker Group marketing firm. Peter develops and implements strategic marketing programs for businesses of all sizes. For a no-obligation quote, contact The Geisheker Group marketing firm today. <a href="" target="_blank"></a>

Article Source:
Article Url:

Article Added on Sunday, July 6, 2008
Other Articles by Peter Geisheker

What is SMS Marketing
Marketing to the huge cell phone market is a smart and savvy move by marketers in today’s business world. This huge market has the tools in the palm of their hand already and all a marketer has to do is deliver the message. SMS marketing stands for short message service and it has become a way for a marketer to bring messages to consumers through their cell phone. As cell phone use has increased to extraordinarily high proportions many companies are realizing the potential that this has...

How Businesses Are Expanding Into Mobile Marketing
Marketing is the most important part of your business. Many businesses are realizing the need to find new methods of marketing that can bring in even more business. Internet marketing is one of the most exciting new ways that you can bring your business to new levels. However, there is another method that has taken marketing by storm and promises to open up even more opportunity for business. Mobile marketing is the use of text messaging and cell phone technology to bring in a much broader...

Creative Strategies I Used to Grow My Business During a Recession
Here are a few marketing tactics my marketing firm did to grow our business over the past 2-years and these tactics worked very well. PR: A PR Strategy that worked well for my marketing firm, and helped us acquire several new clients, was offering 30-minute marketing brainstorming sessions for free and with no-obligation to hire us. Just call us, tell us about your business, and we will tell you strategies you can implement to better market your company and attract new customers. This...

How One Overlooked Marketing Strategy Plan Can Increase Your Bottom Line
Imagine you are running a big company or an organization, probably you are the marketing executive and definitely you need high sales. The best tactics you would implement is training your sales representatives on how best they can achieve great sales. Some organizations or firms would have to employ or recruit a sales and marketing trainer to educate the sales representatives of that organization. Many tactics are implemented and these may include online training sales. Great training is...

The Differences Between Great Marketing And Terrible Marketing
As a marketing consultant and copywriter, I see horrible marketing everyday. The most common mistake I see is what I call, me too marketing. Me too marketing is when a business creates a marketing piece (advertisement, brochure, sales letter, website, etc.) that looks and reads like an exact copy of their competition’s marketing. Instead of demonstrating why their product or service is unique and offers outstanding benefits, they say exactly what their competition says. For proof of me too...

Are You Hurting Your Business by Only Marketing Locally
As a small business, thinking in terms of marketing means thinking locally, right? You think of your signage (if you have an office building or store), advertisements in the local paper, and your trusty cold calls. But are you limiting yourself too much? Especially today, you may find it difficult to bring in more business. Local markets can be a “hit or miss” investment. You may, however, be able to expand your business to a regional or even a national level, without having to invest in tens...

Controversial New Search Engine Optimization Network Creates The Holy Grail Of SEO Tools
Internet marketers and search engine optimization specialists around the globe are in shock. Search Engine Trust, an Internet marketing company that owns a network of over 3,000 websites, has developed a SEO system that is being called the Holy Grail of search engine marketing. It is also creating a lot of controversy in the SEO community. Search Engine Trust has developed a proprietary system that helps websites get top 10 rankings in the major search engines in record time. However, some...

How to Successfully Market a Small Business
1. Stay in constant contact with all of your existing customers. Do this by email, direct mail, and phone calls. If you want loyal customers, you must build a relationship with them, and that means staying in contact with them at least once a month, month after month, forever. The top reason why your customers will leave you is that another company is taking the time and spending the money to communicate with your clients more than you are. 2. If you are going to advertise in print, radio, or...

How to Build Better Marketing Campaigns Than the World s Largest Companies
I wish I could afford marketing like that! Ever find yourself thinking that? When you watch something big on television, such as the Super Bowl, you see companies pulling out all the stops to air what they feel are the best commercials for their products. The commercials wind up being more talked about than the game much of the time, because businesses pack millions of dollars into these 30-second spots designed to be funny, or edgy, or whatever will get them noticed. As a business owner, you...

How to Make Your Business Recession Proof With Smart Marketing
It's no secret that today's economy is struggling. People are losing money, and businesses are scrambling to keep costs low and sales high, while the consumer is spending less than normal. Your business could possibly have taken a hit as well these days, and you are scaling back operations in order to keep afloat. When people ask you, “How's business?”, you may reply with the same grumble that everyone else has: “Well, you know the economy is down...” Do you have to change your operations to...

Click here to see More Articles by Peter Geisheker
Publishers / Webmasters
Article ID: 84083
DELINK URL from Authors Bio
REMOVE Article
Tell A Friend
Leave A Comment!
Download this article in PDF
Report Article!
Search through all the articles:

104 Users Online !
Related Articles:
Latest Articles:
marketing >> Top 50 Articles on marketing
Category - >
Advertising Advice Affiliate Programs Automobiles
Be Your Own Mentor Careers Communication Consumers
CopyWriting Crime Domain Names DoT com Entrepreneur Corner
Ebooks Ecommerce Education Email
Entertainment Environment Family Finance And Business
Food & Drink Gardening Health & Fitness Hobbies
Home Business Home Improvement Humour House Holds
Internet And Computers Kiddos and Teens Legal Matters Mail Order
Management Marketing Marriage MetaPhysical
Motivational MultiMedia Multi Level Marketing NewsLetters
Pets Psychology Religion Parenting
Politics Sales Science Search Engine Optimization
Site Promotion Sports Technology Travel
Web Development Web Hosting WeightLoss Women's Corner
Writing Miscellaneous Articles Real Estate Arts And Crafts

Disclaimer: The information presented and opinions expressed in the articles are those of the authors
and do not necessarily represent the views of and/or its owners.

Copyright © AwareINDIA. All rights reserved || Privacy Policy || Terms Of Use || Author Guidelines || Free Articles
FAQs Link To Us || Submit An Article || Free Downloads|| Contact Us || Site Map  || Advertise with Us ||
Click here for Special webhosting packages for visitors of this website only!
Vastu Shastra

cPanel Hosting Provided By AwareIndia

Company IDS