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Limitations and constraints of marketing research

   

Added on  2020-06-06

10 Pages2818 Words325 Views
INTRODUCTION TOMARKETING
Limitations and constraints of marketing research_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................4P 1 Marketing techniques used by Mark Spencer and TESCO..................................................4P 2 Limitations and constraints of marketing.............................................................................5M 1..............................................................................................................................................5D 1 ..............................................................................................................................................6TASK 2............................................................................................................................................6P 3 How marketing research contribute to the development of its marketing plans...................6P 4 Use of marketing research for marketing planning...............................................................7M 2..............................................................................................................................................7D 2...............................................................................................................................................7TASK 3............................................................................................................................................8P 5 How and why groups of customers are targeted for selected products.................................8TASK 4............................................................................................................................................9P 6 Develop a coherent mix for a new product or service..........................................................9M 3..............................................................................................................................................9CONCLUSION .............................................................................................................................10REFERENCES .............................................................................................................................10
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INTRODUCTIONMarketing is the term which describes the introduction of new product at a marketplacewith the help of various promotional techniques. Basically marketing is the activity, set ofinstitutions and process of creating, communicating delivering and exchanging offerings thathave value for customers, clients partners and society at large. This report is all about marketingtechniques used by two different British multinational organization one is the TESCO and theother is Mark Spencer (Anda, 2014). Apart from this it also describes the limitation andconstraints of the marketing as well as appropriate research method which will be very helpfulfor the development of its marketing plans.TASK 1P 1 Marketing techniques used by Mark Spencer and TESCOBoth the companies are multinational organization famous for its products quality buthaving a different methods of marketing to introduce their product in domestic as well as foreigncountries also. One of the effective technique of marketing is Ansoff Matrixis a strategicplanningtool that provides a framework to help executives, senior managers, and marketersdevise strategies for future growth (Temmen, 2014).It is named after Russian American IgorAnsoff, who came up with the concept. He describes four growth strategies-Market penetration :- The organization tries to grow using its existing offerings inexisting markets. In other words, it tries to increase its market share in current marketscenario .This involves increasing market share within existing market segments. Thiscan be achieved by selling more products or services to established customers or byfinding new customers within existing markets. Here, the company seeks increased salesfor its present products in its present markets through more aggressive promotion anddistribution (Armstrong, and et. al., 2012).Market development :- This can be accomplished by (i) Different customer segments (ii)Industrial buyers for a good that was previously sold only to the households; (iii) Newareas or regions about of the country (iv) Foreign markets.Product development:-This involves extending the product range available to the firm'sexisting markets. These products may be obtained by: (i) Investment in research and
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