Areas of Management Advisory Services-PartI 25

A primary research is information collected for the specific project. This is

further subdivided as follows:
Oruantitative research provides answers to questions when those answers
need to be expressed in statistical or numerical form. It aims to answer
the "how much, how often and how many' questions that managers pose.
Qrualitative research provides answers to questions that do not demand a
quantified answer. It provides the insights that answer managers who,
what and why' questions.

Secondary research is based on information that has been collated earlier for
reasons other than the project at hand. It takes the form of existing reports,
articles and commentaries that just prove to be relevant to the project.

Marketing Strategy Development

Marketing research is a powerful approach to identifying business opportunities.
Exploiting them, though, requires a marketing strategy. Amarketing strategy
defines the approach the business will take in order to get the customers
attention and criticallyget them to spend their money on the business's
products or services.

The marketing strategy will be built on the answers to the following questions:
What products do customers want from a sector's produces?
In what way are competitors failing to produce these products?
What prices are customers expected or willing to pay?
What channels are available for getting the product to the customer?
Who might be the partners in the distribution process?
How might they be approached?
In what ways can customers be informed that the product is available?
How can the customers' interest be stimulated through promotion?

Developing Promotional Campaigns

A promotional campaign is any program of activities dedicated to infoming
customers about a product, stimulating their interest and encouraging purchase.
Examples include advertising and public relations campaigns, sales drives, direct
mailing, exhibitions and in-store demonstrations.