Market Research and Targeting
Market Research
Market research is an important part of the marketing process because it enables the marketers to identify entry strategies and the approaches that will help them satisfy their customers. There are various market research tools that can be used and each of them will be adopted based on the need and appropriateness. The Water Bottling Company can use Online Collaboration Tools such a Skype (video calling), shared white boarding, and instant messaging to allow marketers to conduct “traditional” market research techniques. The social media market research tool is also a viable tool that is the most appropriate in the modern market environment. It encompasses social media platforms such as Facebook, …show more content…
The Water Bottling Company can use this tool to focus on the feature of the product and make it appealing to the customers. In B2B, there will be no personal emotions involved during the purchasing process, therefore, the company will want to focus more on understating the buyers and they will operate or respond within the confines of the organization. The marketers will be more in-depth in the materials that will be used to market the products because the B2B market is always in dire need for the knowledge of the product and are mostly information …show more content…
Therefore, there is a need for The Water Bottling Company to understand how the consumers they are targeting will respond to their products in the market. This will help the company formulate strategies on how to approach consumers, and develop products that will suit the needs of the customers in terms of quality, packaging, and pricing (Procházka, 2006).
Factors Affecting B2C and B2B consumer behavior
Some of the factors that influence consumer purchases include social, cultural, personal, and psychological factors. These factors are beyond the control of the marketers, but must be taken in to consideration. In B2C, cultural factors have a great impact on consumer behaviors. Therefore, marketers are required to understand the role played by the social class, culture, and subculture of consumers. Personal characteristics such as occupation, economic situation, age, and personality also influence purchasing decisions, and must be taken into account by marketers.
B2B is influenced by factors, which include;
1. Environmental-economic, technological, competitive,
Market Research
Market research is an important part of the marketing process because it enables the marketers to identify entry strategies and the approaches that will help them satisfy their customers. There are various market research tools that can be used and each of them will be adopted based on the need and appropriateness. The Water Bottling Company can use Online Collaboration Tools such a Skype (video calling), shared white boarding, and instant messaging to allow marketers to conduct “traditional” market research techniques. The social media market research tool is also a viable tool that is the most appropriate in the modern market environment. It encompasses social media platforms such as Facebook, …show more content…
The Water Bottling Company can use this tool to focus on the feature of the product and make it appealing to the customers. In B2B, there will be no personal emotions involved during the purchasing process, therefore, the company will want to focus more on understating the buyers and they will operate or respond within the confines of the organization. The marketers will be more in-depth in the materials that will be used to market the products because the B2B market is always in dire need for the knowledge of the product and are mostly information …show more content…
Therefore, there is a need for The Water Bottling Company to understand how the consumers they are targeting will respond to their products in the market. This will help the company formulate strategies on how to approach consumers, and develop products that will suit the needs of the customers in terms of quality, packaging, and pricing (Procházka, 2006).
Factors Affecting B2C and B2B consumer behavior
Some of the factors that influence consumer purchases include social, cultural, personal, and psychological factors. These factors are beyond the control of the marketers, but must be taken in to consideration. In B2C, cultural factors have a great impact on consumer behaviors. Therefore, marketers are required to understand the role played by the social class, culture, and subculture of consumers. Personal characteristics such as occupation, economic situation, age, and personality also influence purchasing decisions, and must be taken into account by marketers.
B2B is influenced by factors, which include;
1. Environmental-economic, technological, competitive,