Marketing Research can Make or Break the Business.


Marketing and marketing concept depends on Exchange.Goods ,Services or benefits are exchanged for cash or other services.

What is effect of marketing to charity?

What do donors get when they donate?

What is exchanged?

Money for What?

An enlightened feeling,self actualisation,good feelings,peer acceptance,guilt relief.Why do people pay to go to football matches.what do they exchange,money for what in return.marketers have to find answers to recurring questions such as what key benefits do customers want and get?

In this process of marketing exchange, customers and business both have some objectives to fulfil, customers get value ,satisfaction whereas business gets revenue and their goals are met with some monetary profit.

Customer service,it can be very expensive at times,you may not have enough sales persons to give outstanding service to clients every time.

This is the time you have to consider whether the extra service is appropriate.

1] Is it really necessary or important to the customer, [will you lose business if you withdraw this extra service]?

2] Does the competition offers the same level of extra service?

3] Can we afford it,or would customers would pay more for it?

4] Is there a more cost-effective way of giving this service?

Most customer services costs very little.A smile can make all the difference.

The same staff can give either the best or worse service depending on the level of training and motivation.

Research into what is required by the customers and delivered by the competition helps to determine what really needs to be exchanged between the organisation and its customers. Exchange is an integral part of marketing.

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