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Marketing research has two major benefits In this case, the only thing you have to do is differentiate your product. Some products like bread, detergents, soaps, etc., don’t need extensive market research because these products are used by almost every individual. Skipping this process is a grave mistake, and many businesses commit this blunder. The market research also includes identifying the marketing channels that are suitable for your customers or where you can easily reach them. Typical market research would include knowing your customers’ age, gender, status, income, etc. Once a business identifies its target audience or potential customers, it is time to dig deeper-thorough market research. Knowing your customer is technically a part of market research. Knowing your customer is basically the need identification process and other important things about your customer.įor example, who are your potential customers? What do they do? What is their buying power? Can they afford your product or service? How often can they repeat purchases? Why do they need your product? Where do they prefer buying it? What urges them to buy this particular product? What are they expecting from you? Marketing Activity No. Types of Marketing Activities Marketing Activity No. Let’s discuss some of the most common types of marketing activities. Achieving organizational/business goals.Marketing activities are conducted to achieve various goals, but here are some of the most important objectives of any business. Apart from that, marketing campaigns, advertising, and brand development are all marketing activities. Marketing activities include everything from understanding your customers’ needs and facilitating them even after the sales.įor instance, doing market research is a marketing activity at an initial level. Marketing activities are all targeted actions, plans, and strategies that help businesses attract customers and sell their products or services. If marketing activities are defined in simple words, here is how we would do it. Selecting and Pricing a Product & Service