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It is the systematic gathering and analysis of information. Marketing research jobs can be classified in different ways such as: Routine problem analysis and research on routine problems Research on short term and long term problems Classification based on the actual subject of the research Demand forecasting and Market Potential analysis Commonly used terms: Market potential or industry potential Company potential or sales potential Market demand or Industry demand Company demand or company sales possibilities Market forecast or Industry forecast Company forecast or sales forecast Consumer buying behavior Factors influencing buyer behavior: Personal factors: Age, Education, Economic position, status and self esteem Cultural factors: Religion, language, up bringing etc Psychological factors: Beliefs, attitudes, motivation, perception STP Benefits of segmentation to the marketer: Facilitates proper choice of target market Facilitates tapping of the market, adapting the product offer to the target Makes the marketing effort more efficient and economic Helps to identify less satisfied segments and concentrate on them Benefits the customer as well Marketing Mix 4 P’s of marketing: extension of the same Environmental variables are referred to as the non controllable variables of marketing while the marketing mix variables are referred to as the controllable variables of marketing Product Decisions New products are classified in to two groups: New products arising out of technological innovations New products arising out of market – oriented modifications Factors responsible for success and failure of products Success rate in new products is correlated to the presence of 3 critical factors: A unique and superior product idea that yields a real benefit to the customer Strong technical and production expertise A strong market orientation on the part of the company http://home-investments.com/library/actionable-gamification-beyond-points-badges-and-leaderboards.

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Monitoring and Controlling Resources — Monitoring and controlling resources and overseeing the spending of money. But with adoption still low, why are financial institutions so optimistic? Would you like to post jobs on this career? Although this principle holds true for many products, it is being challenged by firm implementing mass customization. iii) Presale and Post sale services: Products that must be demonstrated for which there are trade in, or that require frequent servicing to stay in good working order lend themselves to personal selling. iv) Stages in product life cycle: Promotional strategies are influenced by product life cycle-stages.