What are the sources of information? Marketing research?
||When business-related information is collected to be analyzed by respecting certain rules, such as business ethics, it becomes marketing research.
Marketing plan research backs-up all the elements of the first chapter of a marketing plan while market research is only about analyzing one of its elements: The prime market, or markets, of the business. See market analysis.
Another major element of marketing plan research is related to market segmentation, although it is less about the defined targeted audiences and more about consumerism: "Why and how do people consume?" > learn more
A practical tip!
When the targeted audience of the desired information is your current consumers, you can do-it-yourself. As a preparatory phase, prepare your own marketing questionnaire, whether it’s for an in-depth interview with some of your new clients or a quantitative clients satisfaction survey.
Once the drafted questionnaire is ready, put it to use by addressing a limited sample of relevant consumers in order to
revise it before contacting more interviewees. In a small and medium business (SMB, SME) you can learn a lot from analyzing a sample of 50 relevant filled-in questionnaires.
When the targeted audience of the desired information are your potential customers, it is preferable to contact an
independent marketing research firm with clear marketing research objectives and a budgeted plan. Remember to allocate
a "marketing research budget" as part of your yearly marketing budget.
Selected "quotes" from sample marketing plans
Our best source of data was our clients that surprisingly enough did collaborate with our first-ever self-research: 43% of them filled-in a short questionnaire from which 94% were properly and fully filled-in. Comment: the questionnaire was sent to them by eMail 24 hours following their visit to us in our low season, June-September.
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What can you write in YOUR marketing plan?
We have completed the analysis of the current situation; the first part of our marketing plan, based on a survey that was conducted among our clients as well as the following supportive sources...
The next issue in your marketing plan
>> Next CHAPTER: Marketing Plan Strategy and Objectives (chapter 2 out of 4)
or if you have advanced with your marketing plan as far as its last chapter:
>> back to Control tools (chapter 4; control chapter)