How Can You Become Better with Marketing Case Study Right Now?
Marketing case study is one of the best ways to implement marketing theories and concepts. The primary idea behind establishing marketing case studies is to test the real-time applicability of various marketing theories in business. Developing marketing case study enables students to acquire first-hand knowledge of marketing in real life business situations.
Ways of Doing Marketing Case Studies
There are several stages that go into developing marketing case studies:
- Marketing survey: Any marketing case study begins with a survey analysis. A marketing survey requires a group of quantifiable and un-quantifiable date regarding the market policy of a certain organization.
- Research objective development: An effective marketing case study development highly depends upon the research objectives. These objects can differ on the basis of the types of surveys. Marketing case study includes three types of surveys primarily, such as customer-oriented survey, brand-oriented survey, and product-oriented survey.
- Situational study: A marketing case study includes two kinds of market analysis including internal and external analysis. There are several tools to use, such as PESTLE analysis, Porter’s five forces, and SWOT analysis.
- PESTLE analysis: This analysis helps in analyzing the economic, social, political, legal, technological, and environmental factors of a business.
- Porter’s five forces: This model analyzes five major forces to comprehend the competitive advantage of a specific business. The five major forces include the threat of product substitution, the threat of new entrants, bargaining power of buyers, bargaining power of suppliers, and competition in the industry.
- SWOT analysis: This tool allows businesses to analyze the inconsistency of new products or services in the present market. It is a basic tool that allows analyzing strengths, weaknesses, opportunities, and threats when developing marketing case studies.
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