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Cvp Analysis

In: Business and Management

Submitted By jacane02
Words 1110
Pages 5
Marketing Management

Cartridge World
James C. Nelson
Kaplan University
MT450 Marketing Management
Professor Bietsch
Aug 17, 2014

In today’s business aspect, everyone is trying to get the leg up on another company. These companies come up with innovative and creative ways to either make their products better, increase profitability or both. In order to figure out what the consumer needs, we have to develop a method of figuring what the market needs. We do this in a variety of ways such as surveys, offering free products or even putting an item on the market in a specific area to see if this will be a marketable product or service. Lets look at how to illustrate the research process, utilize secondary data process, developing a primary data plan and predict the market potential and forecasting. Lets begin with illustrating the research process. In order to illustrate the research process, we need to identify the basic 5-step process; description, evaluation, explanation, prediction and decision making. With Cartridge World, they will want to give the full description of the consumers. This will include their age, sex, education, income, etc (Akrani 2013). Cartridge World will also want to give full descriptions of their competitors and the current market situations. Next, Cartridge World will want to evaluate the market. By researching, this will help the company evaluate itself and the companies performance. Next, we will give explanations (answers) for all the marketing issues or problems. Prediction is another aspect that is looked at in the 5-step process. With prediction, Cartridge World will try to predict or guess the future of sales, market opportunities, environment and even consumer behavior (Akrani). Once the first four basic 5-steps have been thoroughly dissected, the final step comes...

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