Answer in Management for Prince #160908
1.explain the components of sales analysis in marketing research?( please elaborate in points)
2.explain briefly different elements of advertising research ?( Please explain in points )
Components of Sales Analysis in Marketing Research
Sales analysis refers to the process of evaluating sales team performance in the market to gauge whether the set goals are being achieved or not (Venishetty, 2019). Sales analysis has the following essential components that must be considered market research (Venishetty, 2019). The first component is customer description that describes the target market of the organization. This component focuses on the demographic features of the target market like the market size, their purchasing habits, etc. that enables the organization to make the right decisions about the market (Venishetty, 2019). Secondly, customer’s perception is another component that equips the sales team with the knowledge on how customers perceive and react towards the organization’s products and services in the market (Venishetty, 2019). Competition is the last component that is equally important because it focuses on the perception of competitors’ products in the market by customers, competitor’s sales approaches, and methods hence enabling the sales team to devise the best way of competing effectively in the market.
Elements of Advertising Research
Advertisement research refers to the system enatic market research that is conducted to evaluate the effectiveness of advertisements (Bao, 2019, May). It has the following essential elements.
- Pre-testing element: This element of advertisement research focuses on consumers’ feedback, responses, and behavior as a way of gauging the effectiveness of the advertisement (Bao, 2019, May).
- Post-testing element: This is an advertisement research element that provides continuous monitoring of the brand’s performance in the market through product preference, product usage, and customers’ attitude towards the product.
Venishetty, S. V. (2019). Machine Learning Approach for Forecasting the Sales of Truck Components.
Bao, C. (2019, May). More Words on Foreignization and Domestication—Dealing with Cultural Elements in Advertising Translation. In 2nd Symposium on Health and Education 2019 (SOHE 2019) (pp. 260-264). Atlantis Press.