Marketing is varied activities involved in ensuring that you’re consistent in meeting customers’ needs and are receiving appropriate value in return.
Marketing is divided in two categories inbound and outbound.
Inbound are the methods adapted internally, this normally occurs prior to or in the initial stages of the product or service making its debut on the market. During the inbound phase of marketing focus is usually on Market research (tools and methods to examine the markets, their needs, competitors, etc.) competitive analysis, pricing, positioning, naming and branding.
The outbound phase is categorized by the tireless efforts of the business to get the word out about the product or service being offered, this takes the form of; advertising and promotions, public and media relations, sales, customer service, customer satisfaction and social networking.
MARKET RESEARCH- involves the use of tools and methods to examine the markets, customers’ needs, competitors, etc. Market research is essential prior to the launch of any new product or service or even during the product lifespan on the market, as it goes from one stage to another through various stages. The method used for collecting data should be n’sync with the information the researcher is seeking to understand.
WHY IS MARKET RESEARCH IMPORTANT
Are you contemplating entrepreneurship?
Is your organisation pondering the launch of a new product or service (brakes>>>>….)
stop for a while and answer this question…
Have you verified that customers want the product or service you are about to offer?
Too often, smart businesses thrust their ideas of new products and services down the throats of customers forcing them to ingest; they however fail to ask the customers before prying their mouths open if indeed they wanted to be fed that meal. They seek to satisfy customers’ needs without really verifying what the customers wanted in the first place. Instead they work assiduously to “sell” the product, through outbound marketing with the extensive use of advertising, promotion and publicity.
At Pixel Perfect we believe it is not the opinion of the business man that matters most regarding whether their product is needed or not. The opinion that tops the list is always that of the customer. However, as a business knowledge is gained about customers needs through inbound marketing- it is therefore necessary to have market research to clarify what those needs are and what are customers willing to do to have those needs met.
Expert inbound marketing always yields effective outbound marketing.