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Project on market segmentation
B2b marketing b2c comparison
Explain segmentation with respect to marketing management
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The Census Bureau
This paper will identify what I learned from the following two websites identified as the following: www.claritas.com and www.census.gov.
The following questions are posed and will be answered in this paper.
1) What did you find that surprised you?
2) How are they different?
3) How are they the same?
4) How might these two market research sources help a company develop a marketing mix?
5) What might each of the 2 sources tell you about consumer behavior in your area.
6) How reliable is the data when using it for market research?
7) In what ways might the market research information presented by the two sources not be helpful?
The first website that I visited was Claritas.com. Clarita’s is a marketing information resource company dedicated to helping companies engages in consumer and business-to-business marketing. The company was founded in 1971. Its purpose is to arm businesses with the information foundation such as the data, tools, applications, and expertise needed to examine, target and execute profitable marketing opportunities.
When entering my home zip code of 43229, I found the most surprising aspect to be the description they use in identifying the population. One description comes to mind, “Boomtown Singles”. It translates Boomtown Singles as being Young, hip singles who are the prime residents of Young Achievers, a life-stage group of twenty something year olds who've recently settled in metro...
Vincent, G. K., & Velkoff, V. A. (2010, May). Retrieved MJune 2010, from U.S. Census Bureau: http://www.census.gov/prod/2010pubs/p25-1138.pdf
4. Shows the similarities or differences between the different sources in ways that make the paper as informative as possible;
Walker, Francis Amasa, U. S. Congress. House, U. S. Census Office, and U. S. Department of the Interior. The "Ninth Census -- Volume Ii.
1. Identify 5 characteristics that consumers look for in modern fast-moving consumer food goods. Compare the characteristics you identify with those identified by someone else in your class.
Vincent, Grayson W. and Victoria Velkoff. 2010. “United States Census.” Census.Gov. Retrieved May 2014 (https://www.census.gov/prod/2010pubs/p25-1138.pdf).
E., Brodie, R. J., Danaher, P. J. and Johnston, W. J. (2002). "How Firms Relate to Their Markets: An Empirical Examination of Contemporary Marketing Practices." Journal of Marketing, Vol 66, No 3, pp. 33-46.
US Bureau of the Census; ?Estimates of the population of state by age, sex, race & Hispanic origin: 1990 to 1999;? published 12/29/99
Aaker, D. A., Kumar, V., & Day, G. S. (2007). Marketing Research (9th ed.). Hoboken, NJ: John Wiley & Sons.
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
The principal to any successful marketing strategy is to understand the customer and their needs. The ability to satisfy customers' needs better than the competitors, will first be, as PepsiCo builds customer loyalty and increases sales (Business Link, 2007). Marketing research uses many methods to obtain results. PepsiCo will use external census data and marketing survey data collected by outside marketing research firms, as a method of understanding customer wants and needs. Computer-aided methodologies will also be used to collect data on the competitors of PepsiCo, such as Coca Cola, Jones Soda, and Mott’s Company.... ...
2. How is the toothbrush market segmented .? Compare consumer behavior for toothbrushes and toothpaste ..?
Briefly it is a systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company, allows management to make the changes necessary for better results through adopting a proactive approach. Therefore, if a company wants to know what type of products or services would be profitable it should make a market research. Furthermore, a comprehensive research will enable the company to know about the product imperfections (if there are) and to know if it has been able to satisfy customers’ needs. It attempts to provide accurate information that reflects a true state of affairs. Due to market research the company can formulate a viable marketing plan and estimate the success of its existing plan. There are two main sources of marketing research information:
UNITED STATES DEPARTMENT OF COMMERCE, ECONOMICS AND STATISTICS ADMINISTRATION, AND BUREAU OE THE CENSUS. (1994) Eds. F'.A. London, H.A. Scarr and M.L. Turner, Statistical Abstract of the United States, Washington, D.C., pp. 750.
...cular market. Companies that conduct market research normally save a lot of money by understanding what type of product or service is needed, other than entering the market blindly without knowing what to expect.
On the other hand, weaknesses existed. The primary research was the most difficult and frustrating sector, for it was difficult to keep in touch with the potential competitors; hence, a chance to learn more and analyse deeper from the potential competitors was missed. To conclude, the result and analysis of primary and market research which was based on the questionnaire was not convincing enough, and it was the main sector which needed to improve in the future.