marketing 420

Running Head: MARKETING

MARKETING

Marketing

Institution Affiliation

Date

1. The standard information that the company requires is to know is available growth opportunities in the current market. It is essential to know the target market and what they expect from the company. The marketing research analysis must find out what their competitors are offering. The marketing department needs this information so that they can develop a product that is differentiated from that of their competitors, and ensure that they meet the customers' expectations. The information will also ensure they develop a product that is unique and affordable for their consumers (Wright & Ashill, 2018).

Marketing information also reduces the risks associated with problems that companies encounter when launching or introducing a new product in the market. Marketing information can be obtained by reading competitors' websites and monitoring their progress in the development of new products. Market research analysts can also conduct face-to-face interviews with customers in the market. They can also issue questionnaires to current and new customers to fill so that they know their views on the current product. Surveys can also be conducted online through emails, mobile phones, and web-form surveys. Information can also be collected from government and non-governmental agencies that provide information on current trends in the market.

2. To ensure that customers get easy access when they search your product, it is vital to integrate keywords and phrases into your product's name. The keywords and phrases used should be appealing and attractive to customers and make them want to view in detail what your product entails including your location. To do this, you should put yourself in customers' shoes and have a variety of keywords. It is crucial to consider competition and ensure no company has a product name similar to yours so that you can stand out in the market.

My product of choice is Nike Air Force which is a product loved by those in the sports industry, and also other ordinary people due to its comfort. The best market tools would be advertising on billboards through videos so that the target audience can see. Online advertising is also an important tool because many people have now shifted to purchasing products online (Rahbar & Wahid, 2011). Advertising can also be done on television and radios to ensure those that have no internet access can see the product and know its worth. Through advertising, we will capture the attention of those customers who love such kinds of products.

References

Rahbar, E., & Wahid, N. A. (2011). Investigation of green marketing tools' effect on consumers' purchase behavior. Business strategy series.

Wright, M., & Ashill, N. (2018). A contingency model of marketing information. European Journal of Marketing.