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In this report I will display and analyse my secondary and primary research findings about the IPhone 8 and will then devise a new marketing mix for the IPhone 8 based on such research findings.
In this question will be talking about why research marketing is important?
The importance of market research the importance of market research is to ensure that data is gathered and collected and gather data on customers and potential customers. The information that is collected this aids businesses in decision making. Therefore, this reduces the risks involved in making these decisions. Marketing research can help a business take up many avenues and give them a more detailed understanding of consumer’s needs. Marketing research can improve and help firms and businesses to get an idea and knowledge to discover consumer’s opinions and their views on products packaging prices and also recent campaigns in advertisement.
Another reason for showcasing research is diminishing the danger of item business disappointment this is demonstrating that there is no certification that another thought will be a business achievement, precise and new data available can help illuminate and enable business to use sound judgment and educate them on what change should be finished.
Forecast future trends marketing Estimate future patterns advertising exploration can give data in the business sectors current state however can likewise be utilized to help suspect client’s future needs and needs. Firms can make the required necessary changes and adjustments to their portfolios of the products and also the output ensuring it remains successful.
What Information the business may need who are our customers are they local are they national/international are they young/old and also how much do they earn.
The purpose of market research is to research anything that relates to your marketing plan and product packaging from slogans advertising recall purchasing habits and price these are just some elements and helps researchers focus attention on a specific research and also understand research objectives.
An example of market research with a product is the iPhone 8 and in addition to this the questions asked really do matter for the company in order to make it the most successful company in the business with fantastic qualities with the ideas from the general population such as what mega pixel the camera is going to be. And also what shape and what features would the phone have.
The importance of market research is that it identifies a problem and the problem is to focus on your research like wh the sales are soaring high in different parts of the country such as the Midwest but its dismissal in other parts of the country. Also that it collects data information and needs how will the data collected be used to solve the problem? Will you use telephone calls will you use surveys or focus groups on the internet? The importance of market research is that your company can gain the valuable effective strategies. And setting realistic targets for the business with vital information collected you are then able to set goals and achievements and targets for the important business areas such as sales growth introducing new products and services to your customers. The advantage of market research is that research guides communication and also helps potential customers.
The advantages also help identify the opportunities that may occur in the market place the research may make it obvious that a product planned may not be what the market needs. Market research helps you establish trends and also helps you establish your marketing positioning as it is very important to acknowledge and know the position of your business at certain moments in time. The information from the research then helps monitor and benchmark progress and this can be useful when making decisions and taking action. Furthermore, the advantages of marketing research are you can save money because typically in order to conduct market research some will only have minimal costs involved. Therefore, you will have to pay for the consumer panel and then may pay someone to conduct the work.
The disadvantages of market research however differ from the advantages because the disadvantages market research can have is the information collected can be inaccurate and poorly formulated the research also which can be wrong is the false research and inaccurate feedback. Market research on new products developments may only reveal customer feelings and attitudes about the new existing product such as their intentions to purchase it. And the intentions may not construe to the actual sales in the future. Market research affords a small focus group and this can give you exclusive data on a new product. Disadvantages also on market research is the continuous constant changing markets and the period of the research data is relevance maybe limited because the changing parameters keep changing. The data collected for the purpose of creating and the launching of a new product maybe expired and outdated by the time that the product is ready for the markets launch. Disadvantage of market research is the time constraint and this process consists of analysing and collecting data and is time consuming.
The use of secondary data according to the techradar reviews the price of the iPhone 8 it has different pricing variety depending on the phones network service and depending on the memory. During the time of the review the iPhone 8 launching price was $699 and £699 with the 64gb and a much more expensive with the launch of the 256gb at $849 and £849 on the sale on 22 of September. In addition to this the entry level with iPhone 8 sets high targets for Apples most mainstream handset and with the set price at £699 which is up from £599 price of the iPhone 7. The and if the iPhone 8 of 64gb of internal storage is not enough of internal storage for a variety of all your videos apps photos and games the phone also comes in a flash 256gb variant with costs of $849 and £849. But the great news though is that Apple is still sending the iPhone 6s and iPhone 7 so that if the iPhone is out of your price range a little you can still pick the phones succeeding and its reduced price. The prestigious phone is now widely available around the world and after its official release on 22 of September in a numerous amount of countries including Australia and US, and the handset arriving more in Eastern Europe Middle East and more locations from 29 of September.
The design the glass rear looks and feels amazing according to the reviews and it enables wireless charging. The front still bezel heavy and its almost identical of the past three generations. The 8 marks a drastic radical change in the design of the phone for 3 years. One of the big upgrades that the company has is its new iPhone and the focus of the design is the glass rear and this is an upgrade over the aluminium whole body and this has been since the iPhone 5.
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