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Real-Time Marketing for Business Growth: How to Use Social Media, Measure Marketing, and Create a Culture of Execution by Monique Reece

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Section II. Research: Market Opportunity

“We have for the first time an economy based on a key resource [information] that is not only renewable, but self generating. Running out of it is not a problem, but drowning in it is.”

—John Naisbitt

This step in the marketing planning process is considered by most business leaders to be the most important. Why? Business decisions are often made without having enough—or the right—information, to make an intelligent assessment regarding the future direction of their business. This part of the process is critically important to your overall plan as it will help you understand the market opportunity, revenue potential, your customer’s wants and needs, and your competitive advantage. You will also learn ...

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