Identify And Evaluate Marketing Opportunities Example Essay Example
Identify And Evaluate Marketing Opportunities Example Essay Example

Identify And Evaluate Marketing Opportunities Example Essay Example

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  • Pages: 4 (873 words)
  • Published: February 2, 2018
  • Type: Case Study
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The company offers a technical alp and various chat forums to assist in analyzing customer feedback. Additionally, these forums provide opportunities for conducting market research.

Dell differentiates itself through its USPS (Unique Product Selection System), which allows customers to personalize and customize their computers. This enables them to purchase products and services that meet their specific needs, excluding unnecessary features while including important ones. The option for customization is available across online, phone, and in-store shopping.

Regarding revenue generation strategies, Dell utilizes a variety of approaches. Its global websites alone generate sales worth over $1 million per day. A crucial factor contributing to Dell's e-business success is the utilization of customized websites for different customer segments. Dell.com serves both customers and suppliers by streamlining ordering and production processes, ensuring accuracy through direct customer ordering, and providing cu

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tting-edge technologies.

Regarding Dell's marketing campaign, what is the definition and measurement of Return on Investment?

The Return on Investment (ROI) is a way to measure the effectiveness of an investment. It is determined by dividing the benefit or return of the investment by its cost, and presenting it as a percentage or ratio. Dell uses this calculation to assess the success of their marketing campaign by dividing the achieved benefit from the investment by the expenses incurred during the campaign. They use an average percentage to determine if there was a positive or negative return.

The following are three external threats and two internal weaknesses that Dell may encounter: Competition, post fees and charges, and a challenging economic environment.

Weakness: The product lacks the ability to provide a physical connection and face-to-face interaction with the customer.

Businesses' internal

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system offers valuable information about received orders, stockholders, and sales invoices. This data can be utilized by marketing managers to gain insights into the target market. Furthermore, there are four methods available for conducting environment scanning in order to gather information.

There are four ways to collect data: unfocused scanning, semi focused scanning, informal search, and formal search. Each method represents a different approach to observation. Unfocused scanning involves gathering random data without any specific objectives. The second method, semi focused scanning, is slightly more targeted, with a specific goal in mind. Informal search involves gathering specific information but without a defined method. The last method, formal search, has clear objectives and follows a structured step-by-step approach for data collection.

Qualitative and quantitative research can be described and three methods of conducting research can be identified.

Qualitative research is valuable for gaining a deep understanding of the needs, desires, and consumer habits within a particular market. This approach enables organizations to ask intricate questions that elicit detailed responses, yielding a comprehensive view of the demographic. Unlike quantitative data, qualitative data concentrates on individuals instead of statistical figures. It does not immediately unveil trends across the entire population and is less straightforward to interpret.

Qualitative research is valuable because it uncovers trends in public opinions and preferences through consumers sharing anecdotes about their experiences with products and services. In contrast, quantitative research collects and organizes factual information, providing measurable data often resulting in numerical or binary responses.

Quantitative research questions elicit responses within a specific range for easy organization in a database, graphing, or quantification. Research can take the form of observation, survey, or experimentation. The

Australian Bureau of Statistics can aid the research process by offering secondary data collected by others, serving as a valuable starting point and potentially saving time and expenses when developing a marketing strategy.

What is a business opportunity?

The text explains that a business opportunity occurs when the environment undergoes changes that can be beneficial for a business to achieve its objectives. These opportunities are mostly beyond the control of the business, have a limited duration, and should be seized while they exist.

Opportunities for businesses to diversify can arise in various situations. For instance, when a bigger building becomes accessible, it allows the addition of another service. A case in point is a bookshop expanding its offerings to include a cafe. Similarly, an environmental disaster like an oil spill can create an opportunity for an industrial supplies business to supply materials for the cleanup.

A business threat occurs when a company is unable to achieve its objectives. For instance, if the value of the Australian dollar drops significantly, imported goods become more expensive, posing a business threat.

On the other hand, the Parent Principle suggests that 80% of a company's revenue comes from just 20% of its customers. To increase market share for a specific product, businesses can apply the Parent Principle by keeping customer registers and storing their purchase data in their database.

In order to find this 20 per cent, the company can offer additional products that are related to their profile.

  • As a result of increased competition, the lifespan of business opportunities in the marketplace is increasing. False
  • The success off new opportunity is always is

assessed at each stage on the development process and should not proceed to the next stage until it has met the specified requirements. True

In the event that multiple new product or service ideas are generated, the ideas need to be assessed against specific criteria in order to identify the most optimal idea.

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