MGM600-0803B-02 Applied Managerial Decision-Making - Phase 2 Discussion Board - Essay ExampleThe census decennial data needs to be sorted into demographic representation as per the market trends, income group, occupation and population stratification as per gender, ethnicity and household size. US Census data and the information extracted from those data are reliable and important sources to predict trends. Analysis of database of customers is important part of market strategy which helps one to know the changing preferences of the customers in the rapidly changing times. Prices may not be very important part of the strategy with the old customers but competitive pricing helps to bring in new clients. Whenever new products are to be launched, it is important that trend in the customers’ needs and requirements are studied in advance so that appropriate strategy could be developed.
