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Market Research Applied

All industries evolve from the same sequence of events. This includes:

Engineering, because the product must be designed;

Product, which components interface with which applications; (Beta test)

Distribution, how to get that wonderful product out there; (they're 14 ways)

Marketing, how can we help those dealers sell more, or, get the public to buy;

Service, what follow-up or soft trades go along with a new profit center.

Once a company has defined exactly what it is, management should set goals based upon the amount of business that can be done with existing resources. A two-person operation might be able to sell, install and service two sales per week. Whatever the resources, plan your business goals realistically. Settle on a plan that utilizes 80% of maximum possible business based upon existing resources.

Expansion should be delayed until some consistency is reached in sales, lead generation and seasonal adaptability.(Otherwise known as predictability) Plan the market approach according to the ability to generate leads and close sales during peak seasons and carry through in off-seasons.

For example, for retailers, January is not usually as good for sales as December; spring and fall are usually better than summer. An important element of goal-setting is making sure that there is a realistic way to reach the goals. This way, the goals will become reality. The old axiom, "Plan your act and then act your plan" is a formula for success. Whether the acquisition of the skills is paid for or rented, the business must be allowed to operate according to a master plan. This plan must include marketing and sales.

The key to operation in an orderly manner is discipline. According to Jon Jorgenson, International Marketing Director for Digital, "It's both discipline that gets you there and discipline that keeps you there." Too many companies and institutions get fat and waste away from abundance misused.

The responsibilities of mature planning and executing are demanding, but fulfilling.


Daniel Wadleigh is a nationally published marketing consultant and has programs for start-up and existing businesses including effective web sites, e-mail/database, other non-internet ways to drive them to your website, and low cost ways to get more new customers.

Go to: http://www.more-new-customers.com to get free copy of "Marketing to Men vs. Women- the 8 different responses" and a Free copy of "Market Research- 7 Questions to Ask to Start-up and 7 to Ask to Improve Any Business."


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