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  1. Basic methods and steps which are needed for marketing research

1.1 Some aspects of marketing research

1.2 Market segmentation

2. Present economic situation in Ukraine. Market review of construction services.

2.1 Specificity of Joint Ventures in Ukraine

2.2 Economic situation in Ukraine

2.3 Existing situation at the construction market

3. Identifying the «Company» opportunities (SWOT)

4. (This chapter is still developed)


List of references

1. Basic methods and steps which are needed to know for marketing research

1.1 Some aspects of marketing research

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. This definition reveals that marketing involves more than just an individual activity such as a sales or promotion. Effective marketing requires that managers recognize the interdependence of these various activities and how they can be combined to develop a marketing program. Other perspectives view marketing as consisting primarily of advertising or retailing activities. For others, activities, such as market research, pricing, or product planning may be the primary focus. While all of these are a part of marketing, it is incorrect to limit yourself to thinking about just one or two of the elements of marketing.

Marketing research is the process of defining a marketing problem and oppor­tunity, systematically collecting and analyzing information, and recommending actions to improve an organization's marketing activities. To place marketing research in perspective, we can describe (1) what it is, (2) some of the difficulties in conducting it, and (3) the process marketing execu­tives can use to make effective decisions. [8]

Reducing Risk and Uncertainty Assessing the needs and wants of consumers and providing information to help design an organization's market­ing program to satisfy them is the role that marketing research performs. This means that marketing research attempts to identify and define both marketing problems and opportunities, generate and evaluate marketing actions. Although marketing research can provide few answers with complete assurance, it can reduce risk and uncertainty to increase the likelihood of the success of marketing decisions. It is a great help to the marketing managers who make the final decisions.

It is necessary to take marketing actions to reach target markets. The purpose of developing a market-service grid is to trigger marketing actions to increase revenues and profits. This means that someone must develop and execute an action plan.

Steps in making effective decisions. Managers and researchers have tried to improve the outcomes of decisions by using more formal, systematic approaches to decision making, the act of con­sciously choosing from alternatives. People who do not use some kind of system may make poor decisions. Five-step approach provides a mental checklist for making any decision - either business or personal in this way:

^ Define the problem.

Assess the decision/actors. Consider (1) alternative media and (2) uncontrol­lable factors that might affect the decision.

Collect relevant information. Obtain the information pertinent to selecting an advertising medium.

^ Find a solution. Select the best advertising medium from among the alter­natives studied and put it into action.

Evaluate the results. Assess whether the advertising medium chosen was successful and why.

The planning phase of the strategic marketing process

Effective execution requires at­tention to detail for both marketing strategies and marketing tactics. A mar­keting strategy is the means by which a marketing goal is to be achieved, characterized by (1) a specified target market and (2) a marketing program to reach it. Although the term strategy is often used loosely, it implies both the end sought (target market) and the means to achieve it (marketing program).

To implement a marketing program successfully, hundreds of detailed decisions are often required, such as writing advertising copy or selecting the amount for temporary price reductions. These decisions, called marketing tac­tics, are detailed day-to-day operational decisions essential to the overall success of marketing strategies. Compared with marketing strategies, marketing tactics generally involve actions that must be taken right away. We cannot cover many plans at once, so every part of marketing research must be divided on a proper decision making. [8]

After clarifying some basic terms, we will analyze the three steps of the planning phase of the strategic marketing process - the steps taken at the product and market levels to allocate marketing resources to viable marketing positions and pro­grams; involves phases of (1) planning, (2) implementation, and (3) control. Also strategic marketing process include:

goals (or objectives). Precise statement of results sought, quantified in time and magnitude, where possible.

marketing strategies (or marketing actions). Means by which the mar­keting goals are to be achieved.

marketing program. A plan that integrates the marketing mix to provide a good, service, or idea to prospective consumers.

Key Terms. The strategic marketing process varies from organization to organi­zation, and so do the terms used to describe various aspects of this process. How­ever, the purpose of the strategic marketing process and all planning activities is very clear: to allocate the organization's resources most efficiently.

To understand its role in a firm, it is important to recognize some key terms, distinguish between annual and long-range market­ing plans, and understand the activities and information present in the process. Marketing plan - written statement identifying the target market, specific marketing goals, the budget, and timing for the marketing program. A marketing plan is the heart of a firm's business plan. Stated broadly, marketing plans, or marketing programs, fall into two categories. Annual marketing plans deal with the marketing and strategies for a product, product line, or entire firm for a single year whereas long-range marketing plans cover from two to five years into the future. To allow adjustments to the increasing uncertainties in the market­place, many firms today are trying to develop a process that allows strategic-thinking more frequently than just once a year.

Planning phase. All approaches to planning will incorporate procedures to find answers to these key questions:

1. Where have we been, where are we now, and where are we headed with our existing plans?

2. Where do we want to go?

3. How do we allocate our resources to get to where we want to go?

4. How do we convert our plans into actions?

5. How do our results compare with our plans, and do deviations require new plans and actions?

The process of answering on these questions refer to planning and strategic marketing which include three steps which are the most important for the first research: the first stepsituation analysis. There are some phases in the situation analysis of the strategic marketing process. First of all it is important to find out where the organization has been and is at present involves taking a careful inventory of the strengths and weaknesses of both (SWOT) the markets it serves and the array of com­peting products in those markets. Two important consider­ations in this inventory are (1) the industry growth (growth of sales of all the firms competing in that market) and (2) the competitive position of the firm's products relative to those of other businesses in the market. Although large revenues and profits on a new service soon attract competitors.

^ The second stepgoal setting. An effective marketing program requires a focus—a specific group of target market customers toward which it is directed. This requires that the marketing manager (1) segment the firm's markets, (2) identify alternative marketing op­portunities, and (3) actually select target markets. Note that there is a hierarchy of goals in an organization. For example, marketing objectives must flow di­rectly from goals set by top management in the strategic management process.

The stage of market segmentation involves ag­gregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action. Ideally, each segment can be reached by a specific marketing program targeted to its needs. One way for a marketing manager to identify alternative market opportunities is by analyzing various market-product strategies.

^ The third stagethe marketing program. Selecting the target markets tells the marketing manager which consumers to focus on and what needs to try to satisfy—the who aspect of the strategic mar­keting process. The how part involves (1) developing the proper marketing mix and (2) developing the budget. Components of each market­ing mix element that are combined to provide a cohesive marketing program. [8]

Proper attention should be paid for estimating market potential. Total market potential is the sales, in physical or mon­etary units, that might be available to all firms in an industry during a given period under a given level in industry marketing effort and given environmental conditions. The international marketer needs to assess the size of existing markets and forecast the size of future markets. Because of the lack of resources, and frequently the lack of data, market poten­tials are often estimated using secondary data-based analytical techniques. These techniques focus on or utilize demand patterns, income elasticity measurements, multiple-factor indexes, and estimation by analogy. Demand pattern analysis indicates typical patterns of growth and decline in man­ufacturing. Income elasticity of demand describes the rela­tionship between demand and economic progress as indicated by growth in income. The share of income spent on necessities will provide both an estimate of the mar­ket's level of development and an approximation of how much money is left for other purchases. Despite the valuable insight generated through these techniques, caution should be used in interpreting the results. All of these quantitative techniques are based on historical data that may be obsolete or inapplicable because of differences in cultural and geographic traits of the market. Further, with today's technological develop­ments, lags between markets are no longer at a level that would make all of the mea­surements valid. Moreover, the measurements look at a market as an aggregate; that is, no regional differences are taken into account. In an industrialized country like Sweden, the richest 10 percent of the population receives 20 percent of the income, while the respective income figures for the richest 10 percent in the middle-income countries such as Brazil (46 percent) and low-income countries such as Sri Lanka (43 percent) are much higher. Therefore, even in the developing countries like Ukraine , segments exist with buying power rivaled only in the richest developed countries.

In addition to these quantitative techniques that rely on secondary data, inter­national marketers (like the foreign company which will be examined below) can use various survey techniques. They are especially useful when marketing new technologies. A survey of end-user interest and responses may provide a relatively clear picture of the possibilities in a new market.

Estimating Sales Potential. Even when the international marketer has gained an understanding of markets with the greatest overall promise, the firm's own possibili­ties in those markets are still not known. Sales potential is the share of the market potential that the firm can reasonably expect to get over the longer term. To arrive at an estimate, the marketer needs to collect product- and market-specific data. These will have to do with competition, market, consumers, product and channel structures.

1.2 Market segmentation

A business firm segments its markets so it can respond more effectively to the wants of groups of prospective buyers and thus increase its sales and profits. Nonprofit organizations also segment the clients they serve to satisfy client needs more effectively while achieving the organization's goals.

People have different needs and wants, even though it would be easier for marketers if they didn't.^ Market segmentation involves aggregating prospec­tive buyers into groups that (1) have common needs and (2) will respond sim­ilarly to a marketing action. The groups that result from this process are market segments, a relatively homogeneous collection of prospective buyers.

Identifying Segments. Within the markets selected, individuals and organizations will vary in their resources, geographical locations, buying attitudes, and buy­ing practices. Initially, the firm may enter to one or only a few segments and later expand to others, especially if the product is innovative. Segmentation is indicated when segments are indeed different enough to warrant individualized attention, are large enough for profit potential, and can be reached through the methods that the international marketer wants to use.

The existence of different market segments has caused firms to use a mar­keting strategy of product differentiation, a strategy that has come to have two different but related meanings. In its broadest sense, product differentiation involves a firm's using different marketing mix activities, such as product fea­tures and advertising, to help consumers perceive the product as being different and better than competing products. The perceived differences may involve physical features or nonphysical ones, such as image or price. But in a firm that will be examined later such type of segmentation is not the best method because the main product of a company is building and construction service, so the way of segmentation for this situation is quite different but also firm can get into trouble when its different building services blend together in consum­ers' minds and don't reach distinct market segments successfully

In international marketing practice is widely used marketing program called «4P». So, while making a strategy marketer should pay proper attention to such factors as Product (service), Price, Promotion and Place. The basic task of marketing is one of combining these four elements into a marketing program to facilitate the potential for exchange with consumers in the marketplace. Marketing facilitates the exchange process by carefully examining the needs and wants of consumers, developing a product or service that satisfies these needs, offering it at a certain price, making it available through a particular place or channel of distribution, and developing a program of promotion or communication to create awareness and interest. So, in developing the promotional program, the marketer must consider what particular tools to use and how to combine them to achieve the organization's marketing and communication objectives. [8]

Determining the proper marketing mix does not just happen. Marketers must be knowledgeable of the issues and options involved in decisions regarding each element of the mix. They must also be aware of how these elements interact and how they can be combined to provide an effective marketing program. Developing a marketing program requires that the market be analyzed through consumer research and that this information be utilized in developing an overall marketing strategy and mix. The primary focus of most marketer’s plans is on one element of the marketing mix: the promotional variable. However, the promotional program must be part of a viable marketing strategy and coordinated with other marketing activities. Marketers have long recognized the importance of combining and coordinating the elements of the marketing mix into a cohesive marketing strategy. Many companies also are recognizing the importance of integrating and coordinating their various marketing communication efforts such as media advertising, direct marketing, sales promotion, and public relations to achieve more efficient and effective marketing communication. After examining these «4P» aspects the next step will be consisted of identifying market needs.

Segmentation: ^ Linking Needs to Actions The definition of market segmen­tation first stresses the importance of aggregating—or grouping—people or organizations in a market according to the similarity of their needs and the benefits they are looking for in making a purchase. Second, such needs and benefits must be related to specific, tangible marketing actions the firm can take.

Grouping prospective buyers into meaningful segments involves meeting some specific criteria for segmentation and finding specific variables to segment the consumer or industrial market being analyzed. ^ Criteria to Use in Forming the Segments. A marketing manager should de­velop segments for a market that meet principal criteria:

  • Potential for increased profit. The best segmentation approach is the one that maximizes the opportunity for future profit. If this potential is maximized through no segmentation, don't segment. For non­profit organizations, the analogous criterion is the potential for serving client users more effectively.

  • Similarity of needs of potential buyers within a segment. Potential buyers within a segment should be similar in terms of a marketing activity, such as service features sought or advertising media used.

  • Difference of needs of buyers among segments. If the needs of the various segments aren't appreciably different, it should be combined into fewer segments. A different segment usually requires a different marketing action that in turn means greater costs. If increased revenues don't offset extra costs, combine segments and reduce the number of marketing actions.

  • ^ Feasibility of a marketing action to reach a segment. Reaching a segment re­quires a simple but effective marketing action. If no such action exists, don't segment.

Ways to Segment Consumer Markets shows a number of vari­ables that can be used to segment markets. The process of segmenting and targeting markets consist of such steps:

  1. ^ Identify market needs

  2. Steps in segmenting and targeting markets

• Form prospective buyers into segments.

• Form products to be sold into groups.

• Develop a market-product grid and estimate size of markets.

• Select target markets.

• Take marketing actions to reach target markets.

^ 3. Executive marketing program

The process of segmenting a market and selecting specific segments as targets is the link between the various buyers' needs and the organization's marketing program. Market segmentation is only a means to an end: in an economist's terms, it relates supply (the organization's actions) to demand (customer needs). Segmenting a market is not a science—it requires large doses of common sense and managerial judgment. Market segmentation and target markets can be abstract topics. A basic test of the usefulness of the segmentation process is whether it leads to tangible marketing actions. [8]

A firm must take care to choose its target market segments carefully. If it picks too narrow a group of segments, it may fail to reach the volume of sales and profits it needs. If it selects too broad a group of segments, it may spread its marketing efforts so thin that the extra expenses more than offset the increased sales and profits.

Criteria to Use in Picking the Target Segments There are two different kinds of criteria present in the market segmentation process: (1) those to use in divid­ing the market into segments (discussed earlier) and (2) those to use in actually picking the target segments. Even experienced marketing executives often con­fuse these two different sets of criteria. The five criteria to use in actually selecting the target segments apply to this way:

^ Size. The estimated size of the market in the segment is an important factor in deciding whether it's worth going after.

Expected growth. Although the size of the market in the segment may be small now, perhaps it is growing significantly or is expected to grow in the future. There must be the reason of thinking in a such way.

^ Competitive position. Is there a lot of competition in the segment now or is there likely to be in the future? The less the competition, the more attrac­tive the segment is.

Cost of reaching the segment. A segment that is inaccessible to a firm's mar­keting actions should not be pursued.

^ Compatibility with the organization's objectives and resources.

As it often the case in marketing decisions, a particular segment may appear attractive according to some criteria and very unattractive according to others, but the goal of marketer to choose the right way.
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Contents iconTable of Contents

Contents iconContents jubilees

Contents iconTable of Contents

Contents iconContents preface

Contents iconContents Clinical resarches

Contents iconContents clinical medicine

Contents iconContents Pishak V. P., Tashchuk V. K

Contents iconContents The Periphery Capitalism: Features

Contents iconTable of Contents
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Contents iconContents Department of Russian Linguistics

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