Discussion
about the sources of information that might be helpful in decision making for
the business
Contents
Introduction
Research details:
Problem
Limitations
Importance of information in Marketing Models
Types of information that Sportzshoo Plc. may use
Ø Information from the stakeholder’s of business
Ø E marketing essentials for the information sources
Ø Studying the demographic environment
Ø The ecological analysis
Recommendations
Conclusion
Work Cited
Introduction
The concepts of
marketing have developed extensively over this time and now it is unavoidable
to consider each of the business marketing theories before taking any important
decision for the business. Since the marketing strategies can possibly predict
that customer’s response to any move a business might take it is important not
to let go each piece of essential information that the unique marketing methods
may extract for the decision makers.
For developing
businesses, Julien Coallier essentially explains the importance of marketing
strategies in the digital edition of his book called: Introduction to
marketing.
“The essentials of marketing take
into account exchange of value. How much is an
object or idea worth, by what means is it a product and service? Within
selection, determining what your product is, the realization of how many means
one has to developing the idea into a product emerges naturally.”
(Coallier 2012)
Research details:
The Sportzshoo Plc. is
a medium structured shoe manufacturer running its business for around 20 years
now yet not having the expected customer following and depending mostly upon
retailers for sales purposes. As the business is now planning expansion it seemed
essential and unavoidable to reconsider the marketing strategies of the business
that seemed to have flaws and generated not a significant change in the profit
figures and customer following over time. The analysis is meant to deliver Mr.
Steve Scott (owner of business) some essential marketing ideas that can assist
in the decision making of expansion of the business.
During the time that is
used for serious research about marketing strategies, the importance of
reliable business and market information was found to be the foremost factor in
the research process. The more realistic the information will be, more
practical will be the marketing operations of the business. Therefore the
exploration below will define the sources of information that will be
considered relevant for the business. By discovering all means of attaining
vital information it is intended to plan a new marketing strategy of the
business. Hence only real modern sources of information will be taken into
account that can practically help the business growth.
Problem
The Sportzshoo Plc. has
its business activities ongoing for continuous 20 years, yet the growth of the
business has been slow. The rising and falling of the profit figure may be
influenced various independent occasions and they seem to increase over the
period of time. Yet the brand image that could have been very strong over these
years is not seemed to be supported greatly by the marketing department of the
business. Despite of having an Olympics’ gold medalist name attached to the
brand the business is still confined to one section of the market which
indicates a shortfall in the marketing research of the business. The reason for
the less efficiency of marketing department may be overlooking some essential
information resources that could be helpful in studying the customer behavior.
It is important to mention here that the extraction of information and decision
about the resources is not always an easy job however it is the prior job of
the researcher to discover ways that can make the access of the decision makers
to the available options, possible.
To make this research
effectual, all means of information are studied in detail so that the research
could drive the consumer of the report towards the result-oriented facts.
Limitations
Since the factories are
still running in the southern part of the country and also the basic sales of
the business are generated there, the consumer behavior of that market is
studied closely. Thus, it might be not appropriate to apply the results to the
other parts of the country.
Importance of information in Marketing Models
In the book, Business
Market Research, the writers have emphasized on the assistance that the information
might serve in the marketing function of the business.
“Successful
marketing invariably rests on good information, and information processing and
dissemination are core activities in marketing management. Bringing together
the information needs of marketing personnel, and the range of information available
inside and outside the organization, lies at the heart of consistent, effective
marketing actions in the modern organization.”(Ness 1997)
Types of information that Sportzshoo Plc. may use
The main resources that
will be helpful for the business and that will be especially collected to draw
results of this research will be primary sources. The present records of the
business show the more clear access about the trends of the sales and can be
taken into account. The E-marketing might have greatly helpful techniques that
can be adopted to learn about the recent customer trends all over the world. The
E-marketing is meant to enable you to evaluate and improve your current
approaches or plan a new initiative(Dave Chaffey 2013). Also it would
not limit the boundaries for the access of information in different regions.
Information from the stakeholder’s of business
Companies must not
ignore the wholesalers, retailers, and agents who may be crucial interfaces
between themselves and their final consumers (Palmer 2012a). The retailers
who have association with business for long can be appreciated to express their
views about the brand growth over time. If some retailer has closely watched
the sales trends in particular years the reasons can be traced back and the
marketing practices in those particular years can be revised and followed. It
is also mandatory to involve the employees of the organization to participate
in this marketing analysis. This will also be essential to notice their
enthusiasm towards the personal and organizational growth.
E marketing essentials for the information sources
As observed, the
Sportzshoo Plc. is well known among the retailers but the brand’s exposure in
the consumer markets have been less which should be increased for the better
expansion opportunities of business.
The social media
marketing and campaigning is now the most popular way to have an open customer
opinion. On social media people like to participate more in sharing their
opinions about the product.
The questionnaires
about the new product idea can be shared and the users can be asked to share
their views about that product. Through various social media business software
available, the statistics can be built on quick basis about the viewer’s
response to particular ideas.
To renew the brand image,
the shoemaker can start some interesting activity or show their involvement in
an ongoing sport event which will let the consumer notice the brand more often.
Studying the demographic environment
In this scenario, the
research may use the secondary information that can be found in the official
statistics of the state. Changes in the size and age structure of the
population are critical to many firms’ marketing (Palmer 2012b). To be able to
understand the upcoming trends in customer behavior it is important to analyze
the density of different age groups in particular states and regions. Although
the total population most western countries is stable, their composition is
changing (Palmer 2012c). To be able to
understand that who might be the perspective customer of the business would
greatly influence the decisions of the manufacturing operations and marketing
strategies as well.
The ecological analysis
For the positive brand
image it has become compulsory to carry out the ecological environment. The
research of other business and competitor’s business reports can be used as a
secondary data to tell what will be the ecological environment that a company
might have to work in after expansion. Ecological environment can influence the
business activities greatly since there has been growing pressure on natural
resources, including those that, directly or indirectly, are used in firms’
production processes(Palmer 2012d).
Recommendations
The reason that the
marketing department has been less enthusiastic about the research might be due
to fewer appraisals within the organizational boundaries. One way to involve
them in the marketing research process is by demonstrating them the advantages
that the research can provide for the organizational and personal growth.
In this research, as an
effective initiative to begin research only cost effective methods of
collecting primary and secondary resources have been described. However, there
can be other methods of research and marketing that can be performed like
community programs to study the consumer markets if the company decides to
continue the expansion procedure.
Conclusion
Sportzshoo Plc. has a
great scope of growth as its product, “shoes” are the regularly consumed product
and the manufacturers have a share in the markets of UK. Through the social
media campaigns and involvement of employees the ideas of development can be
implied successfully. The role of employees and other stakeholders of the
organization in the research process is of prime importance.
For customer oriented
research that is the prior need of the organization the E marketing techniques
may play an effective role. The social media campaign is one way discovered to
maintain a regular contact with customer and study their liking for the brand.
Other environmental
factors that can influence the business activities like ecological environment
factor should be studied closely during the research.
Work Cited
Coallier, J., 2012. No Title. In Introduction to
Marketing. Booktango.
Dave Chaffey, P.S., 2013. No Title. In Emarketing Excellence.
Routledge, p. 19.
Ness, L.G. and M., 1997. No Title. In Business market research.
Kogan Page Publishers, p. 11.
Palmer, A., 2012a. No Title. In Introduction to Marketing. Oxford
University Press, p. 42.
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