Wk. 1 Marketing

In: Business and Management

Submitted By efoster85
Words 660
Pages 3
* Market research is the research performed and conducted by an organization. This type of research is done so that the market can be analyzed in terms of the customer demand, return on sales of a product or service, and competitors. In terms of customer demand and return on sales, market research allows an organization to see how high or low the demand is for a product or service by the customer. If customer demand is high, sales will be high. Likewise, if customer demand is low, sales will ultimately be low. The higher the demand for the product or service, the more likely the product or service is to sell and yield a profit. With competitors and market research, an organization is able to see what tactics its rivals are using in order to sell the same or similar products and services. In addition to tactics being used, the organization is able to see what price the products or services are selling for and any promotions that are being run. Using the information from the research of its competitors, the organization is able to see what should be done to compete with other organizations so that its products or services will sell. * The organization which market research is being applied to for this paper is the organization in which I work for. My employer is an outsourcing company for a popular cell phone service provider. Our company works to design and compile marketing strategies for the unstated service provider, locally and on a state-wide level. We focus on any promotions that are running with the service provider we work for as well as its competitors. The duties and responsibilities of the position in which I work deal with ensuring that employees are working and performing as they should, completing objectives and goals on time or in a timely manner, and that the marketing strategies we have worked on make it to the service provider for approval.…...

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