2. The case presents a reasonable amount of information regarding Patrick\'s mar
ID: 393727 • Letter: 2
Question
2. The case presents a reasonable amount of information regarding Patrick's marketing surveillance system, but it does not go into intricate detail regarding the specific sources of information he called upon, civic clubs he joined, and so on. Assume that you are the owner of an independent retail pharmacy in your local marketplace. Design a marketing surveillance system that would permit you to stay abreast of the latest developments. Be sure to provide a detailed description of your system, identifying the sources of information you would call upon, methods of implementation, and related features.Explanation / Answer
Data surveillance system can increase the overall level of information for the organisation at a very large scale. In this is specific test availability of marketing opportunities are directly determined by the specific system where the system is being used as a main tool for creating competitive advantage.
Implementation of different monitoring tools such as implementing an electronic record system in the organisation would provide adequate support to its understanding of the electronic data being implemented in your organisation for assessment of different monitoring systems. This type of marketing surveillance directly increases the adaptability of different kind of data which is being used for acquiring customer preference or just for understanding competitive behaviour.
Another implementation would be Customer research which includes different approaches some of them are as follows.
Advertisement promotional research.
By creating a proper Focus Group and implementing strategies accordingly, organisation can easily gather information about the effectiveness of the specific strategies being implemented by the same organisation towards the customers. Effectiveness of different promotional techniques could be easily measured through analysis of the sales data in a specific. which could be very beneficial for the organisation to determine the reason of decreasing sales.
Customer satisfaction measurement
Asking for feedback using questionnaires and online service would be appropriate for an organisation to get an idea about the customer satisfaction. By having specific rating over the measurement of customer satisfaction, improvements could be done and overall customer experience could be increased which would definitely result in positive sale.
Concept testing
Testing out different concepts by applying them temporarily in the organisation and measuring the effectiveness of the specific concept by focusing it to a Focus Group as well as segment of the customers would be very beneficial. This would definitely increase the overall limit of sales which is done by the organisation and would provide a positive support in understanding the market segment.
Market position research
By measuring about the potential limit of your organisation towards providing different products to the customers as well as assessment of the customer behaviour towards different product is very essential. Determination of the sales figures of each market segment as well as measuring the attitude of the customers within each market segment is essential part of this type of marketing research.
Social media monitoring
Implementation of the strategies with which overall monitoring of social media could be done can be very beneficial for the organisation for improving the overall social status and creating a proper brand identity. Monitoring the social media would also provide better understanding of the customer behaviour through the feedback of different comments amt reviews which are given online.
By implementing these marketing techniques, effectiveness of the market research could be easily increased which would definitely benefit the overall sales of the organisation and improve the market situation by creating proper brand identity as well as understanding the customer needs.
Implementation of all of the above strategies would directly increase the overall level of Patrick's marketing surveillance and it would provide a very positive operation capability to the organisation.
P.S.- please leave a comment if any explanation is needed.
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