Research business opportunities Learner's Guide
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Topics Market analysis and research Marketing information approach
Marketing information approach
Marketing information approach

We will use a case study to illustrate some theories in this section.

Case study

Jill Jones is a woman who has seen the benefits of being fit. Now 40 years old, she has the body of a 25 year old.

For many years she was tired, overweight and overwrought, living the life of a busy executive in the advertising industry.

Her discussions with female business associates told her they were suffering from the same situation. Then, one fateful day she found that she simply couldn't get out of bed. She had been burning the candle at both ends. She was working long hours, getting no exercise and was always involved in lunch meetings at clubs and pubs.

It took Jill six months on sick leave to realise that her lifestyle was totally unsuited to her. On her doctor's advice she started an exercise and diet program at a local gymnasium. She soon saw benefits. Her weight started to drop off and her body was becoming toned.

She also soon realised the potential of offering this type of program to business associates. It was then she thought of a gym for women.

Within two months she had quit her job, written up a personal goal plan, successfully applied for a finance package and was in a position to write a business plan. It was time to do marketing research.

Once Jill has defined the goals for her business she would then need to undertake a progressive investigation and identification of alternatives. Then, with the aid of her accountant, analyse the results and evaluate the alternatives.

Finally, with the information at hand, Jill is in a position to identify, implement and monitor a preferred course of action.

This approach to developing a marketing plan is called a marketing information approach. It enables the operator to set about the process of collating, providing and analysing marketing information in an orderly way.

This is generally done by most small businesses. The reason is that small businesses are very 'grass roots', in that managers are generally very close to the customer. Consequently meaningful research can be done very simply and quickly.

Further, as small businesses don't have the resources of major multi-national company to conduct costly professional research, it's best to keep things simple.

How will Jill start to plan her business now that she has her original idea? Check what the 'Marketing manager' thinks.

 


Marketing manager
Business goals