Marketing Analysis
(1) Describe methods you would use to analyze one of these three different markets: consumer, industrial or international markets. What challenges would you face to ensure accurate data gathering in the market and what recommendations would you make to overcome those challenges?
The consumer market is showing rapid change as it moves increasingly to social media, digital multi-channel platforms, and inbound marketing. In response to this change, a key issue in market research and marketing research is the adequacy and accuracy of user-generated content. User-generated content includes the feedback and input from consumers in forums, blogs, and social media platforms like Facebook and Twitter.
Mobile marketing and mobile advertising are variables that have great potential to substantively impact data quality. Mobile marketing and mobile advertising are characterized by the attributes of immediacy and focus (Richmond, Mobile Marketing Secrets Revealed, p. 14). Each of these variables is both a benefit and a challenge to the marketer and to the advertiser.
The immediacy of mobile marketing is that consumers respond to marketing campaigns and advertisements in real time. The benefit of being able to measure consumer response to mobile marketing efforts is readily apparent. What may be less obvious is that immediacy is the norm on mobile digital platforms, which can detract from any sense that the advertisements are unique (Richmond, Mobile Marketing Secrets Revealed, p. 7). Further, in the mobile environment, marketing information is typically transient, leaving nothing behind with the consumer in the manner...
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