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Every marketing concept and element involved in marketing management process can be subjected to a great deal of careful marketing research and enquiry. For which we should know basic questions.
1. Who is the customer?
2. What customer’s need are?
3. What will be the desired way of satisfaction ?
4. How does customer get information about available choices?
5. What product customer wants?
6. How does customer go about seeking satisfaction I the market?
Seeking answers to these question yields insights into the customer’s needs, perception and behaviours. Another area in which research is critical is profitability. Organisations need to forecast sales and related costs in order to understand how their operations will be profitable. They also need to plan competitive marketing programs that will produce the desired level of sales at an appropriate cost. The analysis in evaluating performance and proving useful facts for future planning. All these activities rely on marketing information and a rigorous marketing research.
The purpose of business is to find and keep customers. “Marketing is instrumental in helping businesses achieve this purpose and is much more than just advertising and seeing products and collecting money. Marketing generates value by creating the connections between people and products, customers and companies.
It is important to identify, satisfy and retain customers.
Before you can create anything of value, first you must identify a want or need that you can address as well as the prospective customers who posses this want or need.
Next you work to satisfy these customers by delivering a product or service that addresses these needs at the same time customer wants it. Key to customer satisfaction is making sure everyone feels they benefit from the exchange.. Your customer is happy with the value they get for what they pay. You are happy with the payment you receive in exchange for what you provided.
