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Performance Monitoring Market Research

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Performance Monitoring Market Research

Performance monitoring market research provides a method of assessing the effectiveness of a marketing plan once that plan has been agreed upon. Typically, it would look at key performance measures such as sales, market share and awareness to understand whether or not the plan was achieving the desired outcomes, or where potential problems or opportunities for improving the product or service may be.

Performance monitoring may also look at the product or service versus competitors in the market, demand, pricing, penetration and the wider economic situation. This form of research is most often used to ensure that marketing plans do not deviate from their proposed path, although it can also be utilised to spot where a change of course may be beneficial if the initial plan was not actually ideal.

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