Marketing case study is a systematic search, collection, analysis, and presentation of information affecting a specific situation in the market, which the enterprise faced.
Marketing studies can be called a systematic collection, accounting, analysis of information on marketing problems and marketing in general. The research in the field of marketing allows to improve the quality of procedures for making important decisions on the implementation of control in this area.
- Search (any research on marketing is the collection of information that helps identify the structure of problems and assess them beforehand).
- Descriptive (the study is a description of certain previously selected factors that affect the general state).
- Causal (the study is a test of the information that there are certain cause-effect relationships).
- Test (the study serves as a selection of promising solutions or assessment of the correctness of the implemented options).
- Predictive (studies are characterized by a prediction of the further state of a unit).
The marketing research, collection and analysis of information of external and internal nature are significantly different from each other. Marketing research has a targeted focus to solve a specific problem or a whole range of marketing problems.
What each topic will be, and how much marketing research will be conducted, each company decides individually. Important is the opportunities that it has, as well as the need for information on marketing. In this regard, the types of marketing research conducted by companies vary.
Objects of marketing research
- Marketing systems to promote sales and advertising
- The company’s internal environment
Marketers and company managers are particularly interested in the market as an object of marketing case study. It is considered taking into account trends, development processes, structure, geography, dynamics in sales, capacity, competitive environment, barriers, risks and opportunities in marketing.
Buyers are an integral part of marketing, a market economy. Marketers study them in a market environment, as well as in a separate order (paying attention to households, families). The basic marketing researches in this case concern motivational factors on which it is possible to define the reasons of behavior of buyers in the conditions of the market, structure of consumption, provision with products, and tendencies in consumer demand.
- What are the consumer properties of the product?
- Learn about design, packaging, color, shape, ergonomics, and functionality of the product
- Develop the product range
- Improve the competitive quality of products
- Identify priority areas in the company’s work
Carrying out the cost research, attention is paid to determining the costs of calculating articles, the level of influence of competitors (you should compare technical and economic indicators, consumer parameters of products manufactured by other companies). The data of marketing researches allow to understand parity of expenses and cost, a level of the income and expenses is optimum,
Classification of marketing studies
Research in the field of marketing often has a systematic basis. From this follows their classification.
Carrying out such research on marketing, it is necessary to determine the nature and size of the market (customers should be characterized by age, sex, profession, social status, position, and income). The analysis assumes marketing researches of consumers, revealing the information on a geographical position of buyers, and also about specific weight of production of the basic competing enterprises in the conditions of total amount of sale in branch of the market. In addition, the study analyzes the structure, organization of activities, and the composition of the sales network engaged in servicing this market. Marketing analysis is also subject to general economic and other external trends that can affect the market structure.
The marketing research identifies differences in sales volumes in certain areas, establishes and revises the boundaries of sales areas, visits are planned of salespeople to consumers, the efficiency of sales professionals’ changes, and methods used in trading and sales summarizing are evaluated. In the study, the effectiveness of distribution networks in the areas of expenditure – income is also exposed. Attention in the process of marketing case study is given to the inventory of product stocks in retail chains.
In this case, weak and strong points of competing products are analyzed. That is, the marketing research of the product (analysis) should concern products produced not only by your company, but also by competitors. In this context, it is also about finding new methods for marketing of the use of products, analyzing options for creating new products, testing new products with the participation of buyers, research on packaging, exploring the possibilities to simplify the range.
- Means that help distribute advertising
- Advertising work
In this case, the focus is on marketing analysis of costs and output of goods, short-term and long-term forecasting. It is produced on the basis of analysis of trends, price analysis, and profit analysis.
How does the process of marketing research look like?
Marketing is a continuously ongoing process, an analysis that takes place in an environment that undergoes regular changes. In this regard, systematic marketing research of products are useful for those companies that want to be aware of the changes in the main components on which consumer demand depends. Marketing research of demand helps companies better navigate. Firms who have sufficient information at any time can make changes to their own policies. The competence of government agencies and specialized organizations is the collection of extensive information. In this case, we can often talk about the general nature of marketing information and its inability to meet the specific requirements of a particular enterprise. As a result, it needs additions in the form of research on marketing. The process of marketing research is conducted directly by the company itself.
In addition, some situations have a very peculiar marketing character (this concerns, in particular, the release of new products), which involves conducting a special type of research and analysis.
- The rationale for the obligatory holding of the event, why the process of marketing research should take place
- Analysis of the factors that determine the need for research (in other words, the problem of marketing research)
- Precise statement of tasks, what are the objectives of marketing research
- Development of a marketing plan, according to which a study/experiment should be conducted (based on the analysis provided for in paragraph 2)
- Collection of information necessary for research on marketing
- Analysis, systematization of marketing information obtained for research
- Interpretation of marketing data, wording of recommendations, conclusions in the course of the research
- Compilation and presentation of the report with the marketing results that the study provided
- Taking action on the basis of research on marketing, their subsequent evaluation, feedback
In marketing research that is carried out constantly, the scheme described at the beginning of the enumeration is taken as a basis but in subsequent manipulations the need for the first four steps is eliminated.
- First, you need to correctly and clearly formulate what the problem of marketing research is.
- Then it is required to plan marketing research of the enterprise. It is necessary to preliminary agree on the marketing plan with the head.
- Then it is worthwhile to collect and prepare information for research on marketing with its subsequent processing.
- The information obtained in marketing research needs economic evaluation.
How to understand what marketing research is necessary
- The market structure (marketing research affecting capacity and market conditions, assessing trends in the market)
- Products of the firm (marketing research affects market development, market share of enterprise products in the segment)
- Target segment (directions of marketing research – choice of the target market, in the process, the attractiveness of market segments is studied)
- Consumer (research affecting marketing demand in market conditions, key market needs, consumer behavior and their requirements for the product)
- Cost (marketing analysis is subjected to price positioning of competing enterprises, the structure of market values that is currently in effect)
- Free niches (for marketing analysis, market segments are considered, this is done in order to find free niches in the market, new sources of sales)
- Competitors (competitive marketing analysis of the market situation, which is aimed at identifying the competitive quality of products and identifying the weak side/sides of the company).
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