PRINCIPLES OF MARKETING

Principles of marketing

Principles of marketing

Answer to question No. 1

In recent years, many companies have begun to see the management of marketing information from a systems perspective. Every day these organizations face new challenges: they must reach maximum levels of quality and customer satisfaction, launch new products, positioning and consolidate existing ones, seek greater market share, etc.

To streamline the process of information, get it, analyze and make decisions based on it, takes place in companies, usually in the marketing department, which is known as the Marketing Information System and Marketing, where several authors have a different definition, among them include:

"It's information system to identify the needs of potential customers and allows direct and coordinate all efforts to develop demand and serve the customer."

Sales and marketing in business, instinct and intuition play a vital role. However, relying not enough to identify the needs and preferences of the customers. If Tammy wants to reduce risk and increase the chances of success, it needs reliable data and objective. This is where the Tammy can start to make a difference.

Market research is a process of gathering and analyzing customer information that is needed for the company to identify the needs and wants of the target market (Ankers and Brennan, 2002). These are the business information Tammy needs to make perfect decisions. Information gathering can help Tammy to develop a business plan to launch a new product or service, to improve current products or services, expand into new markets, and develop an advertising campaign, to set prices or choosing a business location.

Tammy Limited should pursue the primary data in order to collect information about the updated needs of the customers. In doing so, Tammy will be capable to design and launch its products as per customer requirements, which in turn will lead to customized products. As a consequence, these efforts will result in an increase in sales and revenues for Tammy.

Information collection is usually the process of market research, is usually the most expensive and most prone to errors.

According to Chisnall (1996) the two main types of data (to get) are classified as:

•Primary Data: The information collected for the first time, unique to that particular research and is compiled by one or more of these elements: a) observation, b) experimental c) questionnaires (most popular).

•Secondary data: Also known as desk research, refer to existing information, useful for the specific survey. This data type is available: a) internal (within the same company, such as transaction logs, for example, invoices) and b) externally (outside the enterprise, as government reports, official statistics, etc.).

To obtain primary data (obtained through field work), the collection of data will require Tammy to include a task force or a staff that will operate either in the field, as is the case of the interviewers who do interviews personal (household, commercial centers or assisted by computers), from an office by telephone (telephone interviews and computer-assisted telephone interviews) or by mail (mail, sending questionnaires by mail using pre-selected ...