Market Study
Before the start of any small or large
project, most companies and organizations use experts in the field of marketing
to provide a vision about the future conditions of the field of activity that
the company carries out, and based on these studies and plans, some methods are
adopted to deal with the expected conditions in the future.
There
is no doubt that these studies require a lot of effort and study in order to
arrive at a correct prediction, and although these studies rely on intangible
things and conclusions to a large extent, the effects of these studies have
many results affecting companies' profits.
These
studies are submitted to the internal departments of the different type of
company in order to help the decision-makers within those companies to reach
the closest way to the correct decision and determine the company's path during
future periods.
we
will get acquainted with me on the best scientific methods used to conduct a
study of the situation of the local and international markets with the addition
of some experiences that have been personally tried and refer to the scientific
methods in this regard.
There
are a number of things that must be taken into account while doing this study,
and then starting to implement the following steps.
First: - Determining the strengths
One
of the most important strengths that affects the marketing power of companies
The
trademark: The
trademark is one of the most important means that companies acquire through
hard and continuous work over successive years, and most companies seek through
their trademarks to gain good fame acceptable to the public of consumers.
Customer
loyalty: It
is the facility's ability to have a customer base that monitors and anticipates
changes to products and marketing decisions taken by the company.
High
quality: -
It usually appears in the industrial establishment and is represented in the
ability to provide a high quality product free from manufacturing defects.
Acceptable
prices: They
are determined by the pricing department that follows scientific principles for
pricing products and after observing the market situation by examining and
studying.
Second: - Identifying weaknesses
Some
factors may cause weaknesses in companies to appear, which may be points
related to quality or other things such as poor electronic publishing or the
rigidity of the company's internal policies and the lack of acceptance of the
changes that occur in the markets.
Third: - Determine the current threats
It
may be considered one of the most prominent threats facing companies is the
emergence of new products or services on the market scale that have the most
appropriate mix for marketing of the company's services and products, such as
higher quality and lower prices, or better post-purchase services at a lower
price.
Fourth: - The available opportunities at the current time
The
opportunities available may be in the form of owning higher-tech equipment than
those of competitors, or the high demand for some of the services and products
provided by the company, or the exploitation of the time factor if the company
offers some products that depend on the seasonal timetable for the marketing
process and productivity, such as the paper and clothing industry.
Fifth: - Submitting proposals
The
help of some of those who have the ability to analyze the study and rely on the
few clear data to reach a correct decision for the future stages of the
company.
finally
The
most important of these stages is to make the right decision and monitor its impact
on the market for the next period, and the most important thing is to rely on
the two most important factors in the study, namely:
1-
Strengths
2-
The current available opportunities
The
former two must be combined to have an effective plan.
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