2015-04-08
1269
Market research and marketing
Most manufacturers carry out a market research before they commence to manufacture a new product and before they modify an existing product. Good, scientifically constructed market research is essential if the manufacturer is able to produce goods that the customer will buy and at a price that he can afford.
The prospective customers are asked a number of questions about whether they want to buy a new product and how much they want to pay. The research may be carried out by the company itself or by a market research company who specializes in this work.
The results of the research are analyzed and the company then is reasonably sure what to manufacture, how to pack it, where to sell it, and what price to charge the customer.
Price, method of selling, packaging, sales promotion are very important in the marketing of a product.
The price must be set at a level where the firm is able to make a reasonable profit. Obviously if the firm has an efficient production process then it will be probably able to offer its products at a lower price than its competitors. If the price is set too high, then the sales may be low and the overall profitability affected.
The method of selling must be ascertained and choices may be made between the normal wholesaler – retailer method or mail order or direct selling, etc. The packaging is important and must be attractive and easy to transport. Sales promotion depends on advertising, price reductions for quantity purchases, free gift offers, after-sales service, display stands, and the use of specially trained sales and service staff.
Words:
commence начинать
prospective будущий, предполагаемый
promotion создание благоприятных условий для прода-жи
competitor конкурент
ascertain устанавливать
