Marketing Research Vs Marketing Management
Marketing Research Vs Marketing Management
For most business people marketing is not a new concept, it has simply evolved over time into a more efficient and effective way of reaching customers. Marketing is more than simply making your product or service known to others, it is also about your company in creating a positive image in the customer’s mind. Although marketing can be implemented on a number of levels – from print media to brand advertising – the most important element is that marketing is an ever-evolving concept. Today, marketing is not just about creating awareness and a brand; it is also about creating a profitable profit for your company.
Marketing is not a one-time activity that takes place only after the product has been launched onto the market. Rather it is an ongoing strategy that is implemented to reach out to and influence potential customers at every stage of the development process. When marketing is used effectively it can drive growth and establish a firm position for any business, but even more importantly it can build loyalty with current customers. A good marketing strategy should be a well-researched, organized and executed whole. It is usually characterized by providing information to customers, establishing a dialogue between customers and businesses, and providing customers with opportunities to influence buying decisions.
Marketing is about communication, and the promotion of products and services to customers at every stage of development through various marketing mediums. Most businesses make the mistake of assuming that marketing is simply about the creation of brand awareness and building customer loyalty. The truth is that marketing involves far more than this. Marketing is a process that includes the development of a specific marketing message aimed at a specific audience or at managing and monitoring the creation, management and consumption of a product or service. The core values of marketing are: discovery, identification, modification, analysis, enhancement and adoption. All these aspects are involved when marketing strategies are developed and implemented.
Marketing principles to work hand in hand with other marketing management concepts to ensure that all aspects of the business are taken into consideration. For instance, the social marketing concept promotes the development of social marketing strategies aimed at creating a sense of community around the business and driving customers to become part of it. It also encompasses traditional marketing practices such as promotions, advertising, public relations and selling, all of which play a major role in attracting new consumers. In order to apply some of the basic marketing concepts to your business, you need to know the difference between the marketing elements and marketing management tools.
The fundamental difference between the two is the main objective. Marketing research seeks to define and measure the customer needs or behavior toward particular product or service. It is part of the product development process and is carried out by gathering data regarding the customer’s response to marketing activities. Market research can either be qualitative or quantitative, depending on the type of information that you are seeking and the resources that you have available. Market research is conducted before selling a product or service to gather information on product attributes, demand and consumer behavior. It can help you design an effective marketing plan and improve the quality of the services or products that you are selling.
Marketing management, on the other hand, deals with the execution of the marketing concept. It usually involves defining marketing goals and objectives, setting and achieving appropriate marketing plans, and organizing the resources and people needed for the achievement of those goals and objectives. It also involves the training and education of personnel who perform various tasks involved in selling and marketing. This includes the designing and developing of marketing materials, sales campaigns, customer servicing and support, and selling programs. Marketing management is a subset of the broader field of business management and is therefore often included within a larger business management framework such as strategic management, market analysis, and operation analysis.