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Analyzing the Target Market, Part 1: Marketing Research

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Building a Marketing Plan: A Complete Guide is a 10-chapter book written by three marketing faculty at Central Queensland University, Australia: Ho Yin Wong, senior lecturer, Kylie Radel, lecturer, and Roshnee Ramsaran-Fowdar, senior lecturer. The book was written to provide both marketing students and business professionals with a comprehensive and practical framework for developing a marketing plan. Drawing together theoretical concepts, strategic thinking processes, and recent research findings, the text helps the reader conduct in-depth situational analyses, develop a deep understanding of target markets, set measurable and timely marketing objectives, develop a series of marketing strategies based on four key elements of marketing, and ensure that appropriate implementation and control mechanisms have been considered. To show how to apply the marketing planning framework discussed in chapters 2-10, the authors provide a comprehensive example in the appendix. Chapter 3 examines the fundamentals of marketing research: a process used to identify the needs of consumers, types of consumers, and consumer buying behavior in the target market. Strategies for planning effective market research, developing research designs to collect and analyze information, implementing a continuous information process, and building marketing intelligence are discussed.
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