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Marketing Management Essay

2948 words - 12 pages

MARKETING MANAGEMENT
Question: If you are working in a supermarket, what are the tools / techniques you will use in data collection? How you are going to analyze this data and market inferences? How will you finally apply your market research to improve sales and win over customers?
INTRODUCTION
The systematic gathering, recording and analyzing of data relating to the marketing of goods and services is marketing research. The main aim of this research is to find the answers in such a way that they will be reliable and unbiased. Thus marketing research performs the function of obtaining information that will assist managers in making marketing decisions. The entire marketing strategy of ...view middle of the document...

It is often discovered too late that the value of their interview information is discounted as a consequence of poor sampling of both questions and informants and poor elicitation techniques. After pre-collection activity is fully completed, data collection in the field, whether by interviewing or other methods, can be carried out in a structured, systematic and scientific way.
A formal data collection process is necessary as it ensures that data gathered is both defined and accurate and that subsequent decisions based on arguments embodied in the findings are valid. The process provides both a baseline from which to measure from and in certain cases a target on what to improve.
Types of data collection
* 1-By mail questionnaires
* 2-By personal interview.
Other main types of collection include census, sample survey, and administrative by-product and each with their respective advantages and disadvantages. A census refers to data collection about everyone or everything in a group or population and has advantages, such as accuracy and detail and disadvantages, such as cost and time. A sample survey is a data collection method that includes only part of the total population and has advantages, such as cost and time and disadvantages, such as accuracy and detail. Administrative by-product data is collected as a byproduct of an organization’s day-to-day operations and has advantages, such as accuracy, time simplicity and disadvantages, such as no flexibility and lack of control.
SITUATION
A Supermarket is geographically a local market where the purchase and sale of goods/services involve buyers and sellers of small local area.
On the basis of nature of goods sold a supermarket is a consumer goods market where the final output of the firm goes for the consumption of individual or household. In a supermarket most of the products are non durables which are frequently purchased. A small variety of durables are also available.
DATA MINING
Data mining is usually defined as searching, analyzing and sifting through large amounts of data to find relationships, patterns, or any significant statistical correlations. Data mining is aimed at the quick and large amounts of data that is collected. There are also large agencies and companies who collect data since decades and you can purchase certain types of data in order to mine for your own purposes. In this situation the data mining is quite important here to understand the trends and build up a turn outs on customer behavior to products. In the current case study, it is very much important to have an analysis on all related to the supermarket and its strategy. We have divided the subject in to two different parts Customers and clients as they are the main and only components in a supermarket and rest all are associated to it.
Customers
Very few customers identify convenience stores as their primary source of food. Customers of supermarkets readily identified these stores as a...

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