Question

Topic: Research/Metrics

Difference Between Market Research And Tactics

Posted by Anonymous on 9/14/2004 at 1:09 PM ET 250 Points
I need to know the relationship between marketing research and marketing strategy and tactics and the purpose of the marketing research and assessing the importance of this research in relation to the organization's market strategy and tactics.
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  • Posted by Peter (henna gaijin) on 9/14/2004 at 1:24 PM Accepted
    Market research ius what is used to get information on what is going on in your field. This information is used to help a company decide what to do.

    Market research is not always formal focus groups or surveys or other methods poeople think of. It could just be someone in the company getting simple, anacdotal information about the market and using that.
  • Posted by koen.h.pauwels on 9/14/2004 at 2:11 PM Accepted
    Marketing strategy typically refers to a long-term plan with performance objectives, while marketing tactics refer to how to execute this strategy day-to-day.
    Marketing research is essential for both:
    1) marketing strategy benefits from a thorough, periodic assessment of customer, competitor and stakeholder forces. Companies often do this annually, for instance to set a price strategy.
    2) marketing tactics require continuous updating of customer and competitive conditions, which benefits from less detailed but very fast marketing research. For instance, the main competitor starts offering deep discounts, how should the company react?
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