Gathering Information in Marketing Term Paper Example | Topics and Well Written Essays - 1000 words

Gathering Information in Marketing - Term Paper ExampleThe macro trend analysis involves an understanding of the food market environment in six areas and these include the demographic environment, socio-cultural, technological, natural, economic and regulatory. Information from this analysis will show the big picture of the market and what to expect when contemptible in such a market (BPP, 2010, p. 55). After a careful analysis of the market it is important to consider the industry in which the organization is laid and this is important in order to know its attractiveness. Porters five forces model is one of the most used models in examining an industry attractiveness. It begins with an analysis of rivalry among the present competitors, and thence examines the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers and the threat of substitute products. All this provide relevant information concerning the industry an organization is idea of ventu ring into. After understanding the market and the industry it is important to estimate the market command and market growth (BPP, 2010, pp. 55-60). Market demand so represents what all of the buyers deep down a market are willing and able to buy at alternative prices during a given time period, holding all demand determinants constant. This is touch by many factors which include individual preferences and tastes, buyer expectations, income, complementary goods and substitute goods (Mullins & Walker, 2010, p.70). Three techniques have been put forward for estimating market demand and these include consumer surveys, consumer way groups and market experiments. Market growth on the other hand can be estimated by examining historical records and extrapolating the results into the future (McGuigan, Moyer, & Harris, 2011). Memorandum Sanitex has continued with its presence in west London commanding a big proportion of the market. With its continued presence in the market it is continu ing to expand and may just back the whole of London. The estimated market size of Sanitex can be seen as small because of the limited number of potential customers that use pest control products. The diversification of the lodges product portfolio into other areas such as carpet cleaning and distribution of sanitary products should increase the market size. It is difficult to estimate the size of the orders market but the following sources could be used by Sanitex to find out the approximate size of its market. These sources include customer surveys, government info such as census data and trade associations. The current demand for Sanitex products is still low and this is because of the following reasons first is because Sanitex is still not known and indeed the existence of strong competitors reduces the demand of Sanitex products. Secondly is the one product that has been on their portfolio. The company has tried to publicise itself making it known to the greater London and therefore the demand of their products is likely to increase because of the increased market size. The improved product portfolio will also work to their advantage as it will increase demand because of the uniqueness of their services. Customer Satisfaction Organizations find it difficult to manage customers satisfaction efficiently. There are many tools that are employed in measuring customer satisfaction and each method has to be defined appropriately in order to meet desired norms. There are deuce primary ways of measuring custome