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Researching the Market in the Infosphere |
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Submitted by Eliza Hickman
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Marketing is the term given to all the different activities intended to make and attract a profitable demand for a product. This involves: identifying consumer needs and wishes in order to develop the product, setting the price, deciding on the place to sell the product and deciding on how best to promote the product. These four factors are often referred to the marketing mix.
The product advertising on other hand is an important part of the marketing mix. Its aim is to increase sales by making a product or service known to a wider audience, and by emphasising its positive qualities. A company can advertise in a variety of ways, depending on how much it wishes to spend and the size and type of audience it wishes to target. The different media for advertising include television, radio, newspapers, magazines, the Internet and direct mail. The direct mail marketing involves sending publicity material to people directly by mail.
Nowadays this is one of the most successful methods for selling magazine subscriptions, insurance and financial services. In the fast-developing world the Internet is very useful and beneficial way of selling products to the general public. It is important, though, to make a marketing research and find out which sphere is the most suitable for your stock. The marketing research is the base of selling policy. It gives information about the market attitudes, competition, wishes of clients. It's good to make the research before you put your product on the market. In this case you can avoid a rejection of it. But you have to remember that the outside factors must fit with the type of what you sell. For example you can not produce wine in place with an oil field, but in a place with grate land and circumstances for vineyard.
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