Market Research: Importance of Marketing Strategies and Relationship Marketing (Term Paper Sample)
Write an essay on market research citing relevant sources
apa double spaced 3 page
DRAFT1 (Market research)
Marketing plan is very crucial for any business that aims at making profit and growing economically. To achieve this one ought to do research and make informed decisions regarding the market environment. In some company, there tend to be missing information which basically entails taxes in the corporations/companies.
To begin with, the missing information in this case include the information on the tax regime. Tax regime is very crucial as it determines the pricing of the goods and services .In the case of marketing, bearing in mind the competitors the price should have small variation from those of the competitors. Also marketing activities are taxed and thus there is need to use the ones that will not cost the firm too much money.
Consequently The source of the raw material determines the marketing plans. In case we know the source of the raw materials we can determine if there are alternative sources of the same and if the alternatives sources are cheaper than the current source. This helps in preparing a marketing plan with an informed approach.
More so, there is no scope of where the market operates in that we do not know if the company operates just within the country of operation or even globally. This is very important to know since the kind of marketing done domestically may be different from the one done globally. This is probably due to variation of consumers from various regions.
Moreover, there is missing information of the technological advancement of the
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