How to Combine Marketing Research With New Product Development

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The marketing activities of a business will attract consumers to avail of the product, thus increasing the likelihood that they would purchase it. Basically, marketing has to do with setting up advertisements and events so as to reach out to consumers, informing them about the existence and availability of a certain item. There are many different forms of marketing that can be used by businesses.

Advertising plays key role in any marketing campaign 

One of the most common forms of marketing is through advertising. Advertising is simply the activity of telling people about a certain product or service by any means possible. It is done both by physical means and by electronic means. For instance, one can advertise his or her business by making billboards located in high-ranking places or possibly placing ads on roadside billboards. But there are more complex forms of marketing, and four Ps. apply here.

Breakdown of the four Ps of marketing 

For the purpose of our discussion, we will concentrate on the four Ps. i.e. product awareness, customer satisfaction, investment, and brand loyalty. All these factors have their own effects on the marketing process. When an advertising campaign is properly carried out based on these four factors, the results can be promising.

Consumer awareness is the first and most important factor that contributes to the success of any marketing strategy. Marketing through the media of television, radio, and print can only reach a specific sector of society, and that is the affluent consumer segment. Only those consumers who can afford to see advertisements on TV, radio, newspapers, magazines, and the like are the ones who will take notice of a given marketing strategy. So, for effective marketing, a strategy that targets the mass market has to be thought out very well. There are a variety of different ways of reaching out to the masses through the mediums of the media of today, ranging from television ads, posters, billboards, and the like.

Understanding The Importance Of Social Media And Guerilla Marketing 

Social media is emerging as one of the major players in this battle for market share. On one hand, it is a medium that reaches into the homes of millions of consumers and can easily be used by anybody to put up a commercial. However, it also has the potential of confusing customers with tricky offers that are not easily understood by the average user. In order to avoid this hassle and to make marketing easier, marketers have come up with a new marketing strategy-guerilla marketing.

The concept of guerrilla marketing is quite easy to understand. A marketing plan is developed, and a plan is implemented in an ad campaign that attempts to catch the attention of as many consumers as possible. This is done by using pop-ups, advertisements that open automatically, and other gimmicks and tactics that turn the attention of the consumer into the ad. It is a way of marketing that does not depend on the long term effect of advertising, but on immediate response. For instance, when a pop-up advertisement is opened, the marketing plan hinges on whether or not the consumer will actually read the ad to see what it says.

Guerilla marketing tactics rely on creating a relationship between the consumer and the product being advertised. It is done through carefully timed and targeted use of words, images, and tones that entice consumers to respond and buy. With this approach, marketers can see a direct correlation between how well a product is selling and how well the advertising is working.

This new marketing approach uses an innovative way of gathering information from consumers. Marketers collect data on the purchases of specific items and then use this data to formulate a marketing plan. This plan often includes a focus on certain demographics. Marketers often use consumer data to predict which types of advertisements will bring in the most money. They also look for certain attributes in a consumer such as gender, age, location, or shopping habits, that allow them to create advertisements that will appeal to more than just a specific group of people.

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