Study Document
Marketing Research & Strategy Analysis of "Driving Article Review
Pages:2 (540 words)
Sources:1
Subject:Marketing
Topic:Marketing Analysis
Document Type:Article Review
Document:#30405421
Marketing Research & Strategy
Analysis of "Driving your market" by David Whitlark and Chad Allred
David Whitlark and Chad Allred's journal article in Marketing Research, entitled "Driving your market," looks into the benefits of research in creating marketing strategies for products or services that a company will introduce in the consumer market. Studying in particular the hierarchical values map (HVM) as the primary tool of measurement in research, Whitlark and Allred enumerates the functions of HVM in determining the consumer's propensity to patronize a product. Moreover, through HVM, the researchers discussed the extent in which market-driving strategy is generated, a new concept in marketing that reflects consumers' preferences and attitudes toward a product or service that they have yet to try or buy.
Centering the discussion on the functionality of HVM in determining market-driving strategies, the researchers identify the benefits of HVM in allowing companies and organizations to know the general marketing environment in which a new product or service will be introduced. The hierarchical values map is defined by the researchers as a tool in making "tangible connections between what a product does best and the high-level personal benefits that customers value most." Through the HVM, customers are made to realize "underappreciated strengths" of a product or service, which may provide a new avenue or way for customers to buy and patronize the said product or service. Moreover, HVM helps researchers and decision-makers to 'identify' the "emotional bonds that connect people with the products they buy and use."
Market-driving strategy, meanwhile, is a new concept in marketing that is generated after HVM results are collected and analyzed. According to…
Sample Source(s) Used
Work cited
Whitlark, D. And C. Allred. (2003). Driving your market. Marketing Research, Vol. 15, Issue 4.
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