Determine the effectiveness of their marketing strategy
Part A-
1- Do you think that there is some order and rationale to the products that one sees in the marketplace and the system that delivers them?
2- Do you think that companies understand who in the family/social network sways particular purchases?
3- If you were the owner of Discount Tires, how would you determine the effectiveness of their marketing strategy?
Please reword these paragraphs in your own words. DO NOT use the same words as in the paragraphs.
4- Every organization, regardless of its size, needs to find its place its general, operating and competitive environments. Marketing research is the process of reviewing an issue with in marketing and areas of opportunity, then obtaining useful information about the problem or opportunity and dissecting the information to create potential solutions. The creation of the Internet has made a wide array of data more readily available. Being able to access this data in a more timely fashion reduces research time as well as the amount of money the research will cost. The Internet can also make the observing action easier in certain situations where a monitor is available via the Internet, for instance the example provided in the text about watching television. The counters can broadcast their data via the Internet which make the dataavailable in near real time. Marketing research is crucial to developing a marketing strategy because the research affects the product that will be produced based on feedback from the consumer.
5-marketing environment is everything your company must take into consideration when developing and presenting a new product. The elements of a marketing environment include, but are not limited to, the changing preferences of customers, your competition, the legal, political and regulatory environment, your own resources and budget, current trends and the overall economy. All these elements affect your marketing decisions — or at least they should, because all of them influence your prospects. For example, many large retailers have decided to adapt to consumers’ increasing enthusiasm for social media by establishing corporate Twitter accounts and opening online storefronts in Facebook.6-Relationship marketing is a facet of customer relationship management (CRM) that focuses on customer loyalty and long-term customer engagement rather than shorter-term goals like customer acquisition and individual sales. The goal of relationship marketing (or customer relationship marketing) is to create strong, even emotional, customer connections to a brand that can lead to ongoing business, free word-of-mouth promotion and information from customers that can generate leads.
