If Marketing is not Advertising, then what is it? Essay Example

cooperation. For instance, a sample message reads: "We fondly remember your stay with us and your birthday today. All my staff joins me to wish you a HAPPY BIRTHDAY! They've also emailed us on Valentine's Day, Easter, and Christmas" (Marketers, Go Back to Basics).

Next comes the data collection phase, which is typically the most expensive and prone to error in marketing research (Kettle et al 2010).

The final steps of the market research mechanism involve analyzing the information, presenting the findings, and making decisions. Companies, like Ezra, have successfully built their marketing strategies around the concept of understanding customer desires through market research.

Ezra conducted a study on customer needs and determined that efficient management of the global supply network, which involves quickly getting the fashion products into the shops, is crucial for success (Kettle et al 2010). This demonstrates how the company prioritizes customer satisfaction and places them at the core of their organization. They have achieved great success by using their shops and the purchasing process as the primary method of promotion, resulting in an advertising budget of only 0.03 per cent of their revenues (Kettle et al 2010). Market research is an ongoing and essential activity for any aspiring successful company. It provides valuable insights into consumer perceptions and evaluations of the brand, as well as identifies areas for product improvement. For instance, GIGS, a Swiss bottle producer, faced low sales figures for their aluminum water and fuel bottles in the US market. In response, they conducted market research to identify the underlying problems. After analyzing the gathered information, GIGS implemented various strategies, including an online contest to engage customers, resulting in

a doubling of bottle sales in just one year (Kettle et al 2010). Product is another vital component of the marketing mix.According to Kettle et al (2010), something is considered a product if it is a tangible item, often something that can be touched or 'dropped on your foot'. Product and market research are closely connected and complement each other. Market research is essential for bringing a product to life. For example, DC, a major player in the Danish telecommunications market, regularly surveys and interviews its customers to learn more about their needs, preferences, and satisfaction with their products. As a result of customer feedback, DC developed a low-priced broadband product called DC Ninety specifically tailored for young customers aged 18 to 28 (Kettle et al 2010).

Molding products around consumer taste and preferences is crucial. According to Rust et al (2010), when a product is more focused on clever engineering rather than customer needs, sales can suffer. Engineers tend to include many features in products, but customers can suffer from feature fatigue, which negatively impacts future sales. To prevent this, the consumer must be involved in the design process. Additionally, products thrive when the marketing leader continuously monitors the business environment for new opportunities.

Jean-Michel Crosser, the vice president and COM of GE Healthcare, had a vision (Kettle et al 2010).According to Comatose et al (2010), Crosser had the belief that the health care system in 2005 would be incapable of catering to the needs of an aging population, which desired independence and to avoid hospitalization. This discovery revealed a potential $10 billion pool, and GE had to undergo various market research processes in order to

unveil the ultimate product. "The team constructed algorithms linked to patients' movements and even conducted experiments in the residences of researchers' elderly parents." (Comatose et al 2010).