Marketing Analysis (1) Describe Methods You Would Essay

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Marketing Analysis

(1) Describe methods you would use to analyze one of these three different markets: consumer, industrial or international markets. What challenges would you face to ensure accurate data gathering in the market and what recommendations would you make to overcome those challenges?

The consumer market is showing rapid change as it moves increasingly to social media, digital multi-channel platforms, and inbound marketing. In response to this change, a key issue in market research and marketing research is the adequacy and accuracy of user-generated content. User-generated content includes the feedback and input from consumers in forums, blogs, and social media platforms like Facebook and Twitter.

Mobile marketing and mobile advertising are variables that have great potential to substantively impact data quality. Mobile marketing and mobile advertising are characterized by the attributes of immediacy and focus (Richmond, Mobile Marketing Secrets Revealed, p. 14). Each of these variables is both a benefit and a challenge to the marketer and to the advertiser.

The immediacy of mobile marketing is that consumers respond to marketing campaigns and advertisements in real time. The benefit of being able to measure consumer response to mobile marketing efforts is readily apparent. What may be less obvious is that immediacy is the norm on mobile digital platforms, which can detract from any sense that the advertisements are unique (Richmond, Mobile Marketing Secrets Revealed, p. 7). Further, in the mobile environment, marketing information is typically transient, leaving nothing behind with the consumer in the manner of more traditional advertising or marketing efforts.

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One solution to the particular attributes of mobile marketing is the practice of wait marketing. Wait marketing assumes that the time that consumers spend waiting for something is an optimal time to market to them (Derval, Is It the Right Time? Wait Marketing, p. 31). "There are multiple waiting times," wrote Dr. Derval. "The objective of Wait Marketing is to identify the best one for a specific Persona based on the behavior, preferences, and contour" (Derval, Is It the Right Time? Wait Marketing, p. 15).

The focus of mobile marketing is necessarily limited by the technology, and further limited by the attention of the user of the mobile digital device. The benefit of having a more condensed focus in mobile marketing is that analysis will be facilitated -- there will be fewer intervening variables that can cloud the analysis of the consumers' response to the advertisement or marketing efforts. The drawback to a limited marketing focus is that the marketer is challenged to select a focus that is most likely to appeal to the target market, and a marketing campaign must issue only small bits at a time of what could conceivably be a more complex marketing campaign. What happens if the marketer chooses the wrong focus? This challenge can best be addressed by conducting pre-campaign or pre-launch market research as a pilot test with a select group of consumers......

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