Marketing Research
Marketing requires good knowledge of what is supplied and what is demanded by the public. The definition of marketing is “all the activities which begin at the producer, and end at the consumer. According to Stanford University Career Development Center, marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals. In other words, the goals of marketing are to create supply and demand for a certain product or service. People are affected by marketing everyday of their lives, whether it is looking at TV commercials, billboards, or even receiving junk mail. Marketing is broken down into thirteen different areas: product marketing, brand management, marketing research, internet marketing, product support, strategic planning, advertising, public relations, promotions, corporate communication, physical distribution, sales, and retailing. All of these areas are tied into the activities of the producer, which is also known as the manufacturer of the product, the whole seller, which buys the products from the producer, and sells to the retailer, whom makes the sales to the consumer.
Promotion is a major strategy used to sell products or services. There are many different ways of promoting a product or service to people. For example, Ronald McDonald is the promoter for McDonalds Corporation. When you see Ronald McDonald on TV, you would automatically think of McDonalds. Another example is Don King, who promotes Mike Tyson’s fights. Ronald McDonald’s role is to bring kids or adults to the local McDonalds, and Don King’s role is to get thousands of people to purchase tickets for a Tyson fight. Why does Nike use Michael Jordan to promote their product? Promoting a product is usually based on a specific person, who poses as a role model to people, and can create a heavy demand for a product. Another major tool of marketing, which is has emerged in recent times, is internet marketing. First, you have to think to yourself, that there are tens of thousands of people who surf the information superhighway everyday! This ultimately creates a “fish bowl” for marketers who want to promote their product or service, whether it is legal or not. The most common method of internet marketing, commonly referred to as “spam”, is mass e-mailing. Mass e-mailing can allow a spammer to send out thousands of e-mails a minute! You can assume that at least ten out of every thousand people e-mailed are going to give some type of response, so give
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Approximate Word count = 928
Approximate Pages = 4 (250 words per page double spaced)
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