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Essay example - Individual Marketing Analysis Paper
Pages 6 (1506 words)
Marketing Analysis Name Name of institution Professor Date Marketing analysis involves an organized way of acquiring knowledge about a specified market, its structure and composition. Moreover, it intensively involves the study on customers who buy or might buy from a certain seller (Kotler, 2008)…
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Furthermore, marketing analysis plays a great role in providing reliable, precise, appropriate and current information to the management. Increase in competition and the hike in production costs because of poor decision-making calls for market analysis to provide sound information to evade poor returns. It helps marketing managers to connect various marketing variables with the environment and customers (Kotler, 2008). Failure to have relevant information, consumer’s responses cannot be predicted in a reliable and accurate manner. Marketing research involves various forms like advertising analysis, which entails tracing the effectiveness of advertisements for any medium. This can be assessed by examining the ability of the medium to communicate the message, create a brilliant image for the brand and induce the consumer to buy the product or service. Demand analysis is also a core part in market analysis. It involves determination of the approximate level of demand of a certain product or service. This entails research on the prospective clientele who are enthusiastic and able to purchase the given product at a particular time. Notably, distribution analysis is a key area in marketing analysis at it provides sound information on the distributors and retailers attitudes towards the product or service on offer (Kotler, 2008). ...
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