This article will show some of the most used marketing tools, showing some of their characteristics.
Market research:
Any marketing function requires market research in order to develop properly, especially for products that can be purchased by millions of people.
Various interpretation techniques are required to observe the needs of users not covered by other products or services and to assess whether an important business opportunity can hide behind a detected need.
Toolbox. Market research, Feasibility Costs, Consumer Profile, Accounting and financial analysis.
Investigation and development:
It is a very important marketing tool, it is the continuous improvement of our product or new products.
Basically the research and development department can focus on:
- Development of new products Modification of existing products to adapt to changing needs: Technical evaluation of products already developed, both own and the competition.
Value analysis:
It is the price analysis, it determines how much production, marketing, distribution is worth and determines the final sale price of the product. It is the determination of a value that can be constantly paid by different users, in such a way that both buyers and producers are satisfied, seeking a balance between needs and opportunities, that is, between what one is willing to pay and between what it really costs a good.
Analytical accounting:
A marketing department generally has an analytical accounting division, which can supply reliable cost data (fixed, variable, direct, indirect etc.
Financial Accounting:
It is necessary to keep an accounting of results by product, with a frequency that allows detecting deviations on the proposed objectives. Financial accounting needs to be able to answer about purchasing trends and, of course, the financial health of the organization.
Finance.
The financial and marketing departments must carry out profitability studies by product in order to make the appropriate decisions regarding the maintenance or elimination of products or the implementation of plans to improve profitability.
Consumer profile:
It is necessary to carry out a study on the type of consumer to be attacked, their preferences, ability to pay, likes on type of product, in order to find the most appropriate strategies for advertising, distribution and sale of the product.
Supplier study:
If we need raw materials, it is necessary to carry out studies on the operation and costs of the companies that can offer raw materials.
and regarding:
On the human resources side, it is important to measure the performance of the firm's workers, making analysis, description and evaluation of positions.
To do. With the tools mentioned, there is simply one thing to do; get to work
