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Week 3 Individual Assignment

Week 3 Individual Assignment - Marketing Research...

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Marketing Research University of Phoenix By Scott Ward
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As found from the reading, “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at-large” (Armstrong & Kotler, 2009, pg 9). The marketing process is a five step process that helps companies understand customer’s needs and wants, this way they can build a customer relationship. The five steps of the marketing process are, understanding the marketplace and customer needs and wants, design a customer-driven marketing strategy, construct an integrated marketing program that delivers superior value, build profitable relationships and create customer delight and last is to capture value from customers to create profits and customer quality (Armstrong & Kotler, 2009, Pg 10). When it comes to market research, there are many ways that a company can construct how they perform the research. A good way is to set up some kind of internet survey, giving customers a chance to give a type of comment, concern or question about the business. The internet is a gateway for any company to really out reach any research they want to gather. It can hold information on competitors that an organization can use in making up a business plan, financial or strategically. There are endless uses to the internet when it comes to researching information. The basic plan of attack when constructing market research, the thing that must be considered is what you are marketing and what is the target market group. When you are looking
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