My Key Responsibilities At Genesis Software Solutions

A market analysis, or market research, helps to understand the community an organization is working for, as well as come up with ideas for the future (Berkowitz, 2011). This is true for any organization, and even more important for smaller organizations, as that may not have a large amount of money to use for new ventures, services, and products. Not to mention the organization needs to determine the best plan of action for their consumers, as well as those that are not yet utilizing the services and products being offered.

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

This web assignment will review two research firms and the type of tools they use in their firms as well as determining if those tools are effective as well as does the firm provide a valuable service to its customers. The two firms being reviewed include The NPD Group and Kantar TNS Global, each company was ranked in the top ten market research companies in the AMA Gold Report for 2016 as noted by Bowers & Brereton (2016). These two research firms are globally accomplished, have collectively helped thousands of clients succeed using their innovative techniques in a tailored program for each company they serve as well as being able to evolve in an ever changing research environment.

I. Executive Summary II. Situation Analysis o Market Summary  Target Market Demographics  Geographic  Demographics  Behavior Factors Market Needs Market Trends Market Growth o SWOT Analysis  Strengths  Weaknesses  Opportunities  Threats o Competition o Product Offering o Keys to Success o Critical Issues III. Marketing Strategy o Mission o Marketing Objectives o Financial Objectives o Target Markets o Positioning o Strategies o Marketing Mix o Marketing Research o Action Plan IV. Financials o o o V. Controls o o o VI. Summary Implementation Marketing Organization Contingency Planning Breakeven Analysis Sales Forecast Expense Forecast

What is the main outcome you intend to achieve? Tie it back to the relevant marketing objective.

The team of business analysts come from various backgrounds. Business analytics will be used to gather data. This data will include, demographics,

What metrics will you use to determine if the marketing campaign was successful? Which stakeholders will be involved in the reporting effort?

A company’s future is never certain. Any number of outcomes may take place that either further or ends a company. Marketers must learn as much as possible about customers, prospects and its surroundings. Research and information give insight that fuels innovations, strategic planning, and forecasting. Marketers can use several types of sources to gather information

Hyman, M. R., & Sierra, J.J. (2010). Marketing research kit for dummies. Wiley Publishing, Inc.

I am responsible for developing the go-to-market strategies and marketing road maps from product concept through launch. We are currently beginning the planning for 2017.

General Issue: which segments should the company target? How should the company and its products be positioned?

When a company chooses a target market or product line to perform market research on, traditional methods will often use an outside market research firm. The first focus of this firm is collecting information from current customers and sales representatives. The typical data collection methods include focus groups, customer surveys, and also site visitations by company scientists and product developers to see the product in-use at customer locations. In contrast, the Lead User research method starts with the formation of an in-company project team comprised of both market and technical personnel1. The project team first focuses on performing market research on their own within the area of interest and attempts to develop some project goals related to what the ultimate outcome of the project should be, such as an improvement on a current product or the development of an entirely new product1. The team then gathers information related to their target market through informal interviews. Both the traditional and Lead User process use interviews to gather date; however, the Lead User approach aims to interview more than just customers and sales

Example: As a consulting company which is focused on entrepreneurs and my interest in retail business marketing analytics. The targeted audience is very vast, and competition is big box retails with huge amounts of money. In industry like this being able to target your audience and provide them with best customer experience or services can make all the difference. In this industry it will be important to know the current data points and ensure that startups success and growth opportunity.

The individual assignment is based on the development of a marketing communications plan for the launch of a product/brand of your choice (ideally taken from any of the brands from

Market analyze is very important to get customers feedback. By gathering market data , market growth the organization will get to know about the competitors.