Category: Marketing Research

Good Foods Company

Good Foods Company specializes in wellness-related products and plans to introduce a range of plant-based products. To anticipate the attitudes and purchases of customers, it is important to conduct a survey and collect data about potential customers and their characteristics. The purchase intention should be estimated by focusing on the need to buy the identified products and potential impressions. The current level of market penetration can be evaluated via tracking and categorizing consumer actions on the Internet (Slade 2018). For example, likes of posts that discuss one or another aspect of plant-based meat show the extent of interest. The review of other companies that work in the given field is another method that can be applied to gather the necessary information. Most importantly, a survey of the customer is the key strategy to understand their preferences and expectations.

Among the areas that require research, it is possible to list customer characteristics, preferences regarding certain product types, shopping habits, media consumption, and their overall views on plant-based meat. Namely, to target several categories of customers, information on their age, gender, income, education, and family is needed. Depending on these characteristics, it would be possible to choose the most relevant marketing and distributing strategies. Customers’ purchase places play the main role in connecting with local groceries, supermarkets, or other providers. The general views on the products being offered determine the way the company would introduce them to the market and promote them. For example, if customers are well-aware of the benefits of such products, more attention can be paid to selling strategy. However, if the target audience is hesitant to buy such meat, there is a need to design an extensive promotional campaign to clarify why exactly people should purchase it (Van Loo, Hoefkens, and Verbeke, 2017). Ultimately, the media used by different categories of customers should be clarified to either use or reject as a channel of marketing.

Considering that Good Foods needs to define customers’ opinions and anticipate their behaviors, descriptive research should be applied. This type of research is a complex type of sociological analysis than intelligence research since it involves obtaining empirical information that gives a relatively holistic view of the object being studied (Hulland, Baumgartner, and Smith, 2018). Conducting descriptive studies requires the development of more complex and detailed research, using methodologically proven tools. They ensure its greater reliability in the process of revealing the most important elements of the object under study. This design is usually used when the object of study is a relatively large community of people who are characterized by various features. In the case of the chosen company, it is critical to create multiple choice questions and ask customers to respond.

The advantages of a descriptive research method include the opportunity to collect the unique insights of consumers. The quantitative nature of the chosen research design will allow grouping and analyzing data statistically, which increases the credibility of findings (McQuarrie, 2015). The significance of the results can also be measured towards the opinions and preferences of customers. In the given case, the participants will be asked in a natural and unchanging environment. A good example is an anthropologist studying a tribe without any influence on the behavior of its members. In comparison, experiments often adversely affect the normal behavior of the subjects, although they provide data that can be analyzed. Descriptive research is to be used as a precursor to the quantitative method as a general overview that provides some valuable markers. Quantitative experiments can be expensive and time-consuming, but they are useful to address the stated research objective.

Sample

Sampling is one of the most effective methods for introducing a new product to the market, as well as improving and boosting sales of products that are already being sold. For collecting the necessary information on the clients of Good Foods, it is proposed to use river sampling as a methodology for conducting online research. It implies the situation when respondents are not taken from a database (panel) but are attracted in real-time among the Internet users specifically for this survey (Callegaro, Manfreda, and Vehovar, 2015). By attracting respondents from the entire Internet, and not from a pre-selected database (panel), it is possible to achieve greater representation. The river sampling prescribes the interaction with an audience that has Internet access, and therefore the representativeness of the river equals the representativeness of the online audience. By placing offers to take the survey at various thematic sites, the researcher receives a sample in which respondents from different socio-demographic groups are equally represented.

Accordingly, the participants will be invited to pass the survey via the company’s social media accounts and the official website. Taking into account that the introduction of plant-based meat implies the exploration of both existing and potential customers, it is important to distinguish between these two categories. Before answering the survey questions, they will be asked to identify with one of the mentioned groups. Furthermore, the clarification of social and economic characteristics would be useful to understand the target audiences. For people with lower incomes and larger family sizes, it is possible to suggest the role of products at lower prices. At the same time, it can be hypothesized that those with higher income and education would be more aware of plant-based meat products in general. Along with the mentioned groups, the target populations would include families with several children.

By defining the characteristics of the respondents, it will be beneficial to develop further market introduction strategies. For the proposed survey, the sample size can be identified as 150 persons per each of the determined groups of customers. Such a sample size would ensure that all the tendencies are taken into account. The larger the sample size, the smaller the error regarding customer data. In this case, the error falls in the inverse quadratic dependence that implies increasing the sample by four times increases the accuracy by only two times. This means that at some point, increasing the sample size will not give any particular advantages, and also means that fairly high accuracy can be obtained with a fairly small sample.

The qualitative type of sampling will also be based on the snowball method, implying the fact that almost every representative of the target group can name one or more people who are in this group. Therefore, first, interviewers by special methods look for the first respondents, and those, in turn, suggest who else can be surveyed. As a result, the number of respondents is growing like a snowball. All potential respondents for specific research will undergo the so-called prescreening, answering the questions asked by the researchers to identify their eligibility. The eligibility criteria will include age, family size, income, and interest in plant-based meat products and wellness. All closed questions will be aimed at better defining some characteristics of the respondents. This may include an understanding of characteristics or behavior, for example, age group or how many hours respondents spend on the Internet every week. They can also be used to interview respondents about opinions or relationships, for example, how satisfied they are with the goods or how much they agree with some marketing campaigns.

Questionnaire

A questionnaire survey consists of a written appeal to respondents with a questionnaire containing an ordered set of questions questionnaire. It may be full-time or part-time (telephone, postal, online, and so on), including individual or group sessions (Montaguti, Neslin, and Valentini, 2016). A typical form involves the introduction (information on the content of the questionnaire and the purpose of the study), information part, classification part (socio-demographic information about the respondent), and final part.

A questionnaire survey consists of a written appeal to respondents with a questionnaire containing an ordered set of questions questionnaire. It may be full-time or part-time (telephone, postal, online, and so on), including individual or group sessions. A typical form involves the introduction (information on the content of the questionnaire and the purpose of the study), information part, classification part (socio-demographic information about the respondent), and final part.

Questionnaire for Good Foods

1. How satisfied are you with our company?
   Very satisfied
   Seems to be satisfied
   Not very satisfied
   Completely dissatisfied
2. What words would you describe plant-based meat products? You can choose several options:
   Excellent quality
   Useful
   Unique
   The price matches the quality
   The price is too high for this quality
   Useless
   Low quality
3. How do these products fit your needs?
   Great
   Enough
   More or less
   Not enough
   Does not match
4. How would you rate the quality of the products?
   Very high quality
   High quality
   Medium quality
   Low quality
   Very low quality
5. How much does the price match the quality?
   100%. You can ask for more for this quality.
   Compliant
   It seems to correspond
   Not quite consistent
   Not at all consistent. The price is too high.
6. Have the company meets your expectations about the product?
   Yes, of course!
   Sometimes
   Did not fit most expectations
   Did not answer at all
   Did not answer and did not convince
7. How long have you been our customer?
   This is my first purchase
   Less than six months
   From six months to a year
   1-2 years
   3 years or more
   I have not bought anything yet
8. How likely is it that you will return for a purchase?
   Very high
   High enough
   Maybe I will be back
   I am hardly going back
   Not coming back
9. What is the source that directed you to this survey?
   Facebook
   Instagram
   Official website
10. Do you have any suggestions, comments, questions?

Reference List

Callegaro, M, Manfreda, KL & Vehovar, V 2015, Web survey methodology, Sage, New York, NY.

Hulland, J., Baumgartner, H., & Smith, KM 2018, ‘Marketing survey research best practices: evidence and recommendations from a review of JAMS articles’, Journal of the Academy of Marketing Science, vol. 46, no. 1, pp. 92-108.

McQuarrie, EF 2015, The market research toolbox: a concise guide for beginners. Sage, New York, NY.

Montaguti, E., Neslin, S. A., & Valentini, S. 2016, ‘Can marketing campaigns induce multichannel buying and more profitable customers? A field experiment’, Marketing Science, vol. 35, no. 2, pp. 201-217.

Slade, P 2018, ‘If you build it, will they eat it? Consumer preferences for plant-based and cultured meat burgers’, Appetite, vol. 125, pp. 428-437.

Van Loo, E. J., Hoefkens, C., & Verbeke, W 2017, ‘Healthy, sustainable and plant-based eating: perceived (mis) match and involvement-based consumer segments as targets for future policy’, Food Policy, vol. 69, pp. 46-57.

Introduction

An organization that wants to succeed in a competitive business environment needs a sound strategy. A strategy is a broad, long-term plan, conceived in order to achieve business objectives. Strategies are developed at three levels of the organization name, the corporate level, the business level and the functional level. Many operational decisions are framed in conformity with the objectives of the business, and with the functional objectives of the various departments of the organization. Operations strategies such as the preference of operating structure are influenced by the nature of the goods or services to be produced or offered and the markets intended to be served.

However, the organization should use Marketing as a focal point of revenue creation. When making marketing decisions, it is important to consider all aspects of the macro-environment to make sure that whatever the decision is made is sustainable not only to the business but also in the larger business environment. Marketing decision marking and sustainable development should thus be treated as two inseparable concepts since it is the decisions made that will determine the sustainability of the business. Marketing research is a mandatory tool to evaluate marketing dynamics and gather important information that can aid in decision-making.

Challenges of StubHub, Inc in the environment

The industry in which StubHub, Inc operates is believed to be very competitive. The existence of competitive companies like e-bay makes competition to be very high. Although the industry exercises an extremely high level of macroeconomic power in the nation, it is at the same time enormously receptive to public opinion. Targeting tickets of those customers who are not going to attend a game for one or two reasons are limiting the business of the organization.

StubHub, Inc’s marketing approach on the internet affects its sales strategy largely. Note that the advertising the companies adhere to focuses on social knowledge building. It entices the creation of a more definite approach in helping society know about the real worth of their products, which has a lengthened effect on their buyers’ minds than that of the appeal-based advertisements and popularity endorsements.

Ansoff Matrix

The Ansoff matrix makes available to us the strategies that StubHub, Inc has available to them in the future regarding their services and all of their service lines. We have to look at StubHub, Inc now at a Corporate Level, which is far superior to that of looking at things as an independent business unit. StubHub, Inc is a large business group however all of its businesses fall within one particular industry that may be termed as the online marketing Industry. Thus, we see with the number of resources available to StubHub, Inc both human and financial they can actually manage to follow all four strategies without having to make a tradeoff – thus in this regard, they can do so when the need arises and follow different strategies within different brands.

Taking into account generic strategies that are available there is no two ways about it StubHub; Inc is very much following a broad differentiation strategy. Looking at Porter’s matrix, we see:

Out of the generic strategies, that we see here in this matrix StubHub, Inc does have a broad market scope of advertising. These we see that they happen to follow a Broad Differentiation Strategy which unique service lines targeting different segments – at the functional level however their strategies might either converge on a brand to brand basis or diverge on a brand brad basis (Morgan, 179).

SAF Test

Winning Strategy

The best strategy for any firm or corporation is one in which they match their strategy with the nature of their market and their firm’s own competitive advantage. StubHub, Inc has many competitive advantages. Their primary competitive advantage in ticketing is providing markets for those not attending for one or two reasons.

A very effective strategy for expanding market influence would be that of the continuous campaign through online press releases handled by the organization that would be released to prospected buyers through the aid of cloud networking. This company shall be able to advertise to target consumers from all around the country at one time press release distribution. Regular enhancement of such procedure shall entail the company in becoming more popular in its campaign for promoting services for modern consumers hence increasing the possibility by which it releases its services to the market (Cateora and Graham, 239).

They also have a competitive advantage in terms of both brand equity and an excellent supply chain network. These strengths coupled with their profitability, growth allow them to follow a combination strategy, and thus they would best be advised to follow a broad differentiation strategy. Following such strategic changes and a broad differentiation with cost leadership, they will always keep winning!

Recommendations

The main implementation of StubHub, Inc is based on the interface on the web, specifically, because there is an establishment of consumer relationships that directly link to the organizational environment. This implementation came from the planning of how to get ticket holders onto the marketplace, as well as how to ensure that each of the products would build from a reputable company. The total quality management, which has been established by StubHub, Inc, comes from continuous planning, specifically in the resource maturity stage. There is a security and back-end system to ensure the delivery of products to consumers, all of which come from an automated system. This establishment has combined with the planning and implementation of new functions and applications, all of which are designed to change the way in which the planning works within the website. As the site has grown, are new plans for growth, specifically which have diversified the types of products offered and which have grown in system applications to ensure quality that is offered to customers (DeWitt and Brady, 199).

Conclusion

The ability of an organization to achieve success is not only dependent on developing services and getting a response from customers. For an organization to be sustainable within the market and to continue to grow with the prospects available there is the need to plan and have functions that are continuously moving forward in the internal environment. The planning, which is used for different organizations, is essential to the overall growth and functionality of those who are working within the company. Understanding how planning contributes and provides a basis for an organization can then assist in the development and sustainability within an organization.

Works Cited

Cateora, Philiph and Graham, John. International Marketing. Boston: McGraw-Hill Irwin, 2007.

DeWitt, Tom and Brady, Michael. “Rethinking Service Recovery strategies.” Journal of Service Research. 2003: 6, no. 3

Morgan, Gareth. Images of organization. Thousand Oaks: Sage Publications, 2007.

Porter, Michael. Competitive strategy: techniques for analyzing industries and competitors. New York: The Free Press, 1980.

Introduction

Branding is a very important component of marketing. This is because different consumers exhibit varying trends in their loyalty towards products. Consumers can be loyal in the sense that they always buy a certain brand of products from the same company. They can also be switchers when they move to other products because of change in prices. For better results, it is important for marketers to understand the impact branding can have on sales and the relationship with customers. This research proposal narrows down to the issue of branding in luxury home furniture. These are household consumer products and indeed are affected by the choice of brand and the related strategies by the marketer.

The literature review would examine existing information on consumer behavior in relation to branding and sales. This has constituted the secondary data in the research. An experimental approach has been discussed as the proposed method to investigating branding and sales in luxury furniture. Ethical issues and how they would be ensured have also been captured in this proposal. Finally, the proposed research findings and their analysis have been proposed at the end of this paper.

Aim of the research

This research aims at exploring into consumer purchasing trends and loyalty to luxury home furniture in relationship to changes in the branding strategies adopted by the marketers.

Research objectives

1. To investigate the effect of change of brand on the number of sales recorded within a one month period of time.
2. To find out if a change in brand of furniture affects the relationship between the customers and the products.
3. To investigate the impact of alteration in the brand of luxury furniture to consumer loyalty.
4. To investigate consumer trends and relationships in relation to specific brands of luxury furniture.

Theoretical framework

Branding refers to the process of assigning names, signs, symbols or design to a product or service of a company or business entity with the intention of uniquely identifying the product of that firm and distinguish it from the competitors. Different business organizations are known for their specific brands in the market. Consumers are very sensitive to brands in the sense that they can identify their preferred brands from a list of competing products in the market. The relationship between customers and specific brands in the market is affected by a number of factors. Some of the factors concern the satisfaction of the needs of the customers from the products that have been branded in the market. (Foxall, 2005).

Branding is an aspect of marketing that has been under research for a long time. Business organizations are ever in search of better branding strategies which aim at improvements in various dimensions. Studies have demonstrated that brand loyalty is a fundamental issue that influences sales of that particular brand. Customers can have different preferences or requirements for them to maintain their loyalty to a specific brand. The factors that determine brand loyalty vary form one product to another.

According to Aaker et al (2004), branding has the capacity to perform a number of functions to a product. These functions are the ones that determine the customer preferences to the specific products unlike the competitors. The first function concerns attributes being assigned to the product. Household products such as luxury furniture are known to perform functions that fulfill the needs and wants of the customers. Branding therefore aims at specifying the specific attributes that the product in the market can do for the customers. Attributes assigned to a product also suggests the important features that attract the attention of the consumers.

Branding also serves the purpose of bringing out the function of the product in question. For the case of luxury furniture the brand can entail a description of the comfort and convenience of the product. This would help to differentiate it from the other functions other products perform. (Muniz et al, 2001)

Branding can also be tailored to indicate the value of certain products in the market. This could include efficiency, excellent performance, more secure and other valuable things that customers in the market consider while selecting their brands. For a luxury furniture marketer branding can bring out the products to be of high quality and more secure. These valuable features would play a significant role in influencing customer loyalty and buying habits.

Branding can also be associated with a certain culture. This is whereby the branding process ensures that a certain cultural group is at the center stage in the usage of the product. A good example is shown in the dressing industry whereby marketers can decide to come up with a specific brand that is associated with Italians. This brand will be named Italian wear. As a result of this brand consumers would be influenced into this brand just because of the cultural description or labeling.

Brands can also be used to convey the meaning of personality. Consumers look for certain aspects of personality in the products presented by the market. It therefore becomes essential for marketers to search for the personality attributes that work best for most of the customers. Research has also established that branding also focuses on the user of the products. There can be products tailored for children, mother, fathers and so on. The various users can be utilized in the branding process so as to achieve the desired sales targets. (Muniz et al, 2001)

Researchers have maintained that the overall purpose of branding is usually to influence the purchasing habits of customers and consequently increasing the sales volumes of the products in the market. This is because of the existence of an environment that is full of competition from all directions. (Jacoby et al 1971)

Studies that have been undertaken on consumer behavior have indicated that brands provide precise, relevant and useful information to the consumers. This is very important especially when consumers are out there to make their best selections out of the competing products. This therefore means that without branding, the work of consumers in selecting the best products in the market is made difficult. Marketers have therefore described brands to be important tools that enable consumers to make selection of products so quickly. This has been evidenced when consumers are not bothered so much about the price but go for specific brands immediately they arrive in the stores. The brand names can therefore be considered to be very essential in the decision making process of the consumers. This has been mentioned in a number of studies concerning consumer behavior in a competitive market environment. (Proctor ,2005)

In the present times consumers have been noted to take the issue of quality for granted. This is the case because most of the competing companies in the market are all producing quality products and meeting the required standards. This does not mean that quality is not a factor that determines the consumer decision making process. Brands are often used to reveal a lot about the quality of the products being sold. This means that customers still value brands that always portray quality and hence are the most preferred in the market against the competitors. Quality is an important issue for customers but it is no longer a prerequisite for purchasing a particular product. Therefore markers have been forced to change strategies in the way they approach quality and branding in their pursuit for increased sales. (Muniz et al, 2001)

According to research studies consumer determinants are quite different than the case used to be in the past. Attributes that are closely related to the brand of the product are the ones that matter for most consumers and are the ones than influence them into buying their best selection of products in the market. These brand attributes include colour, size , shape and many more that are in line with satisfying the needs of the customers. In other words markers have argued that indeed it is the attributes of the brand that determine the success of products in the competitive market. (Proctor, 2005)

In a successful marketing strategy, brands of products have important components in their understanding. This includes the brand image and the brand awareness. The meaning of brand awareness refers to the ability of consumers to recall and recognize the existence of the brand. This is achieved through attributes, values and benefits the brand is associated with. Consumers have to demonstrate brand knowledge for them to be influenced in purchasing the product.

Consumer knowledge of the brand is achieved through the process of learning. Learning of important brand attributes can be attained through friends, promotions or experimentation. It is from the learning and knowledge about the brand attributes that consumers are able to discover the truths in their selected brands. Brands in the market contain information that is very important for the consumers.It is from the information that customers begin to form attributes when they purchase them in a number of occasions. (King, 1991)

Research studies on consumer behavior have indicated that brand name is a very important piece of information to consumers when they are making purchasing decisions.

In a situation whereby consumer were faced with various aspects of the brand including price , quality and names most consumers tended to choose the brand name in their selection of preferred products. In the study, the respondents were noted to be have chosen price as their second important thing. With such revelations, it is clear the customers have come up with brand names as unique devices that they utilize in their quick selection of products in the market.

In this study it was also revealed the culture and the social status of the consumers have an influence in their selection of more than one brands in the market. It was noted that some other factors other than brand name and price determine their selection of brands.

In some cultural groups, the choice of furniture brands is in line with the social class from which an individual comes from. Customers have also been found to use brands and their names as important means of the perceived risk in purchasing a product. Most consumers in their purchasing experiences have tended to focus on the value of brands and the enjoyment part of it during utilization of the brand chosen. (Jacoby et al, 2005)

On the part of relationships with customers, it has been indicated through research that customers tend to have good relationships with certain brands that continue to satisfy their needs. Customer loyalty is a perfect example of a good relationship between a brand and certain customers. On the other hand customers who keep switching from one brand to another reveal a poor or bad relationship that might be characterized by lack of satisfaction. Studies show that customer’s selection and choice of brand is influenced by the existing past relationship with the brands. Customers tend to make their purchasing decisions based on such pre-existing relationships with the brands they know in the market. (Southgate, 1994)

Research studies have also mentioned that luxury products are more susceptible social class influence than the other categories of products. This trend varies between public and private products. Luxury furniture can be put under private property and they are susceptible to cultural influences in the brand selections by customers.

Researchers have therefore made significant contributions to data relating to consumer behavior in relation to branding and customer relations. The research findings become a very important source of secondary data for the research proposal. Conclusions concerning how brands affect sales and customer relations can therefore be arrived at basing on the data.

Methodology

This research study would be designed in such a way that an experiment would be conducted on selected consumers to find out their purchasing patterns and relationships with brands of luxury furniture. The experiment would comprise of both control and experimental group. The control group would be exposed to the furniture with the common brand. This is the brand that they are used to buying. The experimental group would be subjected to brands with altered names, prices and colour.Ten participants would be randomly selected to undertake the pilot study to find out the reliability of the materials that would be used in the final study.

A survey would also be carried out in the sample to determine their purchasing habits in relation to the brands available in the market. The surveys would also determine the relationship that exists between brands and the customers. This survey would involve the use of questionnaires which would be administered across the randomly selected sample population of consumers. (Malhotra.& Briks,2006)

The results obtained in the experiment and questionnaire would be compared and conclusions mad concerning how the brands influence buying patterns and sales.

The questionnaires would be analyzed using the appropriate software’s and tools to reveal comprehensive results that would be represented using appropriate tools like graphs and pie charts.

Research ethics

This research study shall endeavor to ensure that all ethical standards are observed in all the process that would lead to the achievement of the set objectives. Ethics in this research would concern the participants who are the consumers of luxury furniture in the market. The research shall ensure that personal information of the participants is treated with the confidentiality it deserves. All the participants would not be influenced in giving out their opinion concerning the relationship with brands or their purchasing habits. It would be vital to obtain prior consent from the participants to make them aware of their contribution towards the research.

In this case either oral or written consent would be used to obtain their permission. In terms of autonomy, it would be assumed that the participants are people who are capable of making informed decision concerning the questions they would be responding to in the research. They would therefore not be assisted so much in obtaining answers to some of the questions especially those that would require them to give personal opinion concerning brands of luxury furniture.

Justice shall prevail in the selection of the participants to participate in the study. There shall be no undue preference or influence into choosing the participants in the research. The selection of the participants would be undertaken in such a way that all the customers would have an equal opportunity to participate in the study. All the selected participants shall be treated equally in the study. There shall be gender considerations in the selection process to ensure that both the male and female customers are well represented in the study. This research shall ensure that the participants are from all the social classes to avoid discrimination that is based on social status of the customers. (Malhotra. & Briks,2006)

Analysis of findings and possible conclusions

The results that would be obtained from the study would be well analyzed by the use of appropriate analytical tools. The analysis of the result would comprise the various responses form the consumers concerning the issue of brands of luxury furniture and how they affect customer relationships. Quantitative data concerning the state of sales of luxury furniture would also be analyzed to reveal how the various brands have affected the sales in a one month period. The results concerning the sales report which would have been recorded in table would be analyzed to clearly indicate how the changes in the brands affected the total sales in that particular trading period.

The possible conclusions of this research would be that the brands of luxury furniture have an effect on the sales. This would be demonstrated by the decline in the sales with alteration in brand names and other features such as color. Brand names would come out to be a very important factor in the selection of furniture by the consumers. This would be demonstrated by the loyalty of consumers to certain brands for a long period of time and hence their increased sales.

The research would also come up with the conclusion that indeed branding affects the relationships with different customers. The relationships tend to differ with cultural and social classes of the different customers. Therefore marketers need to pay attention to issues of branding carefully because of the impact they can have on sale of consumer products like the luxury furniture.

References

Aaker, Jennifer, Susan Fournier, and S. Adam Brasel (2004),“When Good Brands Do Bad,” Journal of Consumer Research, 1–16.

Foxall, G. (2005.) Understanding Consumer Choice. Baingstoke. Palgrave Macmillian.

Jacoby, J. ,Szybillo, G. and Busato-Schach, J. (2005). Information Acquisition Behaviour in Brand Choice Situations. Journal of Consumer Research, 209-216.

Jacoby, J. Olsen, J. and Haddock, R. (1971), Price, Brandname and Product Composition Characteristics as Determinants of Perceived Quality. Journal of Applied Psychology 55 (6), 570-579.

King, Stephen (1991), “Brand Building in the 1990s,” Journal of Marketing Management, 7, 3–13.

Muniz, Albert M., Jr., and Thomas C. O’Guinn (2001), “Brand Community,” Journal of Consumer Research, 412–32.

Malhotra N.& Briks D (2006)”MArketing Research: An applied approach 3rd Edition.”Pearson Education ltd.

Proctor T. (2005) “Essentials of Marketing Research” 4th Edition FT Prentice Hall

Saunders M.(2006) “Research Methods for Business Students. FT Prentice Hall.

Southgate, P (1994), Total Branding by Design, London, Kogan.

When starting a business, first it is important to decide on the form of ownership. Each of them has a different internal structure and legal status, sizes, allowed areas of activity, and many other details. All forms of ownership have both advantages and disadvantages, a degree of risk to owners, and certain benefits. Since Carla plans to open a pet outlet and invest only her own money, the most appropriate form of business organization would be a sole proprietorship.

From the given data, it is possible to assume that the business is small and will be operating in a single city. Moreover, Carla does not expect to make any profit for at least two years and to make almost no profit for the first three years. Provided the conditions and the size of the business, a sole proprietorship is the most suitable business organization option for Carla.

Sole proprietorship operates in the field of retail and small-scale wholesale trade. Since it provides services at the local level, this form is ideal for Carla’s pet outlet. Fulfillment of any formalities for registration of a sole proprietorship is not required; the only official document is the tax return. The maintenance of financial records is necessary for tax purposes: business expenses are qualified by law differently from personal ones (Al Mamun & Hasan, 2017). Due to its simplicity, a sole proprietorship business is established without much difficulty. The greatest advantage of this form of ownership is the ease of creation, the limited financial capacity, the absence of a complex decision-making mechanism, a simplified form of accounting, and tax reporting.

While simplicity is a great advantage of this form, its main disadvantage is the personal responsibility of the owner for all the obligations assumed by the enterprise. If the organization is prosecuted, its owner bears unlimited liability (Allen et al., 2021). This means that not only the property of the organization but also the owner’s personal property can be confiscated to settle claims. The founder owns the company and is fully responsible for the property, debts, and other obligations. This, perhaps, can be considered the biggest drawback of a sole proprietorship.

Another major problem can be the difficulty of raising capital. Generally speaking, this form of business organization is not as attractive to lenders as other forms. Besides, certain tax inconveniences arise in the case of a sole proprietorship. Additional payments made by the company, such as health insurance, are not treated as an expense by the US IRS and are therefore not excluded from income when calculating tax base (Allen et al., 2021). Sole proprietors must pay such expenses out of the profits remaining at their disposal after tax. In addition to the aforementioned drawbacks, the transfer of ownership is associated with greater difficulties than with a corporate form. When planning property, no part of the enterprise can be transferred to family members during the lifetime of the owner.

When the business processes have already been built, the channels for attracting customers are working, and the company has taken its small niche in the market, entrepreneurs want to move to a new level. Expanding the business requires revising the business plan, preparing new products, finding and processing new customers, building sales and marketing, and simultaneously reducing operating costs (Okon, 2018). Carla will need new partners to start a real growth program. Any modern market niche intersects with related industries with thousands of invisible but strong ties. Affiliate programs with mutual advertising, joint promotions, and discount programs allow expanding the pool of clients and equally share the costs of attracting new clients between partners.

A sole proprietorship is an oldest and most basic form of doing business. Such a business enterprise belongs to one person who owns all of its assets and is personally liable for all of its obligations. Despite its simplicity, this form of business organization does not provide the flexibility that other forms do. It has advantages and disadvantages, so Carla, as well as other future proprietors, must weigh up all pros and cons of doing this type of business.

References

Allen, W. T., Kraakman, R. H., & Khanna, V. (2021). Commentaries and cases on the law of business organization. Lippincott Williams & Wilkins.

Al Mamun, C. A., & Hasan, M. N. (2017). Factors affecting employee turnover and sound retention strategies in business organization: A conceptual view. Problems and Perspectives in Management, 15(1), 63-71.

Okon, E. O. (2018). Property title, formal credit access and business expansion. International Journal of Marketing Research Innovation, 2(1), 1-15.

Marketing Strategy

Per Ansoff’s Strategic Opportunity Matrix, Williams-Sonoma relies on market penetration. The company appears to have a stable range of promoted products that are mainly aimed at existing clients. Prior research shows that Williams-Sonoma utilizes data analytics efficiently, applying it to the history of users’ searches and purchases on its affiliated websites. Then, promotional offers are customized for the clientele, keeping them relevant to the existing audience.

Segmenting and Targeting

Three possible target segments for Williams-Sonoma are (from higher to lower priority):

• Middle-class adults aged 35-50 who own their own houses or apartments. These people value the quality and usability of their homeware, willing to spend good money on it. They have developed careers, which provide them with a higher share of disposable income, as well. This target group is promising in terms of lifetime value because of their purchasing power and the habit of visiting homeware stores (both physically and online).
• Work-from-home parents are aged 25-40 with higher-than-average incomes. These people spend much time at home, which fuels their desire to surround themselves with high-end homeware. Parenting is also a major contributor, as the quality of the products is valued, being associated with the safety of the child. The potential of this segment lies in its size, as the number of people working from home has seen an increase in the fallout of the pandemic.
• Young adults aged 21-30 with an average income or higher and a broad social circle. These people are extroverted and sociable, hosting a range of social events at their homes. In order to create a better image of their lifestyle and impress their acquaintances, they are willing to spend more money on house and kitchen products. This idea reflects the potential of the segment, as such clients are better susceptible to marketing tools.

Positioning

• For the clients who value their comfort
• Who struggle with finding safe solutions for their homes and kitchens
• We are a houseware retailer
• Offering high-end products that make the house safer, cozier, and more comfortable
• Unlike mass-market companies
• We have a selection of reliable products that improve the quality of customers’ lives at a great value.

Product

Today, Williams-Sonoma offers a wide variety of kitchenware, from utensils to electronics. The company will benefit from introducing a new collection of holiday-themed dinnerware devoted to Christmas, Halloween, and Thanksgiving. The existing clientele, certain of the brand’s quality, will be willing to purchase such collections to impress their guests during celebrations and support the holiday spirit. Even though such dinnerware will be used a few times per year, customers will want to purchase such unique, high-end items that assert their status.

Place

Williams-Sonoma relies on a multi-channel framework of distribution that has proved useful in the age of the pandemic. Traditionally, the company has maintained a brick-and-mortar presence which has been heavily supported by e-commerce activities since the 2010s. William-Sonoma’s website and mobile application are fully functional, providing their users with access to the company’s catalog and special offers. As the pandemic persists, a stronger emphasis is needed on digital distribution in light of the overall uncertainty and restrictions in the case of physical interaction. COVID-19 has taught clients to use e-commerce to its full potential, meaning that the audience of this distribution format has been rapidly increasing.

Promotion

Advertising: continue to use a higher share of digital advertising – with a global paradigm shift toward e-commerce, digital marketing is more promising for the company.

Personal Selling: not use – in light of the pandemic, personal interaction is complicated, whereas customers learn the benefits of remote communication and e-commerce.

Public Relations: continue to use – in the 21^st century, effective PR helps to build a positive image of Williams-Sonoma as a stable company that respects global values (equality, sustainability, transparency).

Sales Promotion: continue to use – as WS is a high-end company with higher-than-average prices, short-term sales promotions help it expand the customer network by attracting hesitant buyers.

Direct Marketing: continue to use data analytics – WS’s personalized offers using big data showed their effectiveness, and this format is promising in the age of data-driven business.

Price

Williams-Sonoma relies on premium pricing, as its rates are higher than the sector’s average figures, backed by its quality and reputation. It positions itself as a high-end brand, and the prices serve to underline the superior quality of the product.

Abstract

The report gives an analysis on the role of marketing information and research in analyzing Caffe Nero’s status within the market. The paper starts by introduction followed by the analysis of qualitative research and how it could be utilized for the benefit of the business; the focus is on the use of focus groups as well as in-depth interviews.

Then there’s SWOT analysis for Café Nero followed by conclusion then finally recommendation with justification on the appropriate strategies which should be adopted by Caffe Nero to ensure sustainability and growth.

Introduction

Caffe Nero’s intention within the food industry looks very attractive for competitive purposes. This is because they face low pressure from suppliers and moderate pressure from buyers.

The food industry is highly competitive with many substitutes available, this makes it essential for Caffe Nero to develop business and marketing strategies which will help them do well against pressures from the global forces and ultimately attract and retain consumers. Research undertaken using qualitative method has great influence on decision-making and designing of strategies.

The level of competition within the market determines the development of products and services which would grant them competitive advantage. The high purchasing power of buyers determines the level of sales and ultimately the profits. It is essential for Caffe Nero to focus on consumer tastes and demands (Kotler et al, 2005).

Qualitative Research

Focus Groups

Focus groups comprises of carefully selected group of individuals having relevant experience in a particular field. The experienced individuals are required to perform studies through their personal input and issues common to all. Focus groups are preferred in qualitative studies because of the in-depth values they add to research processes.

Interactions amongst participants, sharing of own ideas leads to adequate exposure which ultimately enables development of new perspectives concerning specific issues (Parent et al., 2000).

Questions answered by respondents are carefully crafted so that the study focuses on the common agenda hence allowing researcher to conceptualize the topic based on the consumer’s background (Ulwick, 2002, pp 91-97) and therefore there is an element of external control to these kinds of study.

Focus groups are used before conducting in-depth interviews so as to help in stirring one another’s thinking. Within the groups they would hear different opinions or responses concerning topic in question hence enabling them think clearly along the same line.

In-depth Interviews

This is a type of unstructured interview in which the researcher is allowed to ask specific questions to individuals concerning selected topics of research. It comes in as a critical tool used in research whenever individual opinions are required and not group opinions.

In-depth interviews are conducted immediately after focus groups for the purposes of establishing individual responses which could not be shared publicly concerning consumer reactions. In-depth interviews are used for the purposes of helping in deep understanding of the social and physical settings of the environment where it is undertaken, the traditions, values, effects and roles practised by the respondents.

Using in-depth interviews enables collection of sufficient and crucial data information that could not be otherwise shared within the various groups. This also helps in reinforcing trust between the interviewer and the interviewee and hence makes respondents be willing to contribute more and more (Whyte, 1982).

In-depth interviews are used to help gain an understanding on how consumers respond and interpret their interactions based on the products, within their respective market environments.

In-depth interviews are considered flexible and easy to understand since they are generally open-ended, neutral, sensitive and very clear to the respondent. The structure provided by the method allows for open conversations which help in providing detailed information about the interviewee’s general experiences and response towards Caffe Nero.

One prerequisite for this study is formation of good rapport between researcher and respondents as it requires adequate time to execute. This type of research method is common where the researcher and the respondent share common knowledge concerning specific topics of discussion. In-depth interviews are time consuming; heavily qualitative in nature and therefore it is a requirement which requires highly trained professionals (Ulwick, 2002, pp 91-97)

SWOT Analysis

SWOT is the general internal analysis done to an organization which helps in evaluating Strengths, Weakness, Opportunities and Threats. This analysis is done with the aim of implementing future growth strategies.

The analysis becomes appropriate when making critical decisions to business ventures based on both internal and external factors with the sole aim of maximizing on identified benefits for future sustainability. SWOT analysis of Caffe Nero being a Coffee restaurant is pegged on the general challenges faced within the market environment (Johnson and Sexty, 1989).

Strengths

Nero has considerable advantage in pricing its products as compared to other competitors within the coffee business. Its strategy of offering low prices in the market for coffee brands, resonates well within the market, for example the smallest quantity of cappuccino costs on average £ 2 at Starbucks, £ 1.79 at Coffe costa and £ 1.55 at Caffe Nero.

Therefore Caffe Nero is cheaper by over 20% and over 15 % in pricing compared to Starbucks and Coffe Costa respectively identified as its immediate competitors. This strategy pays off in the long run as consumers tend to associate themselves with low prices (Mead, 2005).

The enterprise seeks to diversify its products to the niche markets. For the purposes of adding onto the existing coffee brands, Caffe Nero indulges into offering fast foods synonymous to drinking coffee. These fast foods include; sandwich, cakes and crips.

This has since proved of great benefit as revealed by 2007 company analysis which indicated that 35% of total sales at the Caffe were attributed to food sales while 65% attributed to coffee drinks.

The rationale to this is that by diversifying products to consumers, the business reduces risks associated with venturing in one brand of products and further offers an opportunity for additional revenue (Mead, 2005).

Caffe Nero intelligently opted to renting business premises rather than buying those premises which were averagely costly.

Renting is comparatively cheaper to acquisition and this provides an avenue where the business breaks even its operations within a short time, a factor responsible for quick profitability, hence creating avenues by significantly reducing costs of business set-up. Distinctive ways in selling products based on continental aspects has been associated with high customer turn-out.

The organization offers its products to consumers in a relaxed environment and not the typical fast food environment of eating and drinking while standing as enshrined in American culture, and mostly practiced by major competitors. This in effect has brought relevance to consumers who view themselves as part of the organization in valuation (Mead, 2005).

Aggressiveness in sales promotion and retention of customers through loyalty cards proves workable. This strategy ensures that the business has substantial clientele within the market despite the intensive competition; this ensures that revenues are assured at certain benchmarks.

It also acts as a form of advertising since loyal customers are offered discounts, a situation which prompts new customers to the business because of their sensitivity to consumer spending (Mead, 2005).

Weakness

Globalization of the coffee business is still at its lowest. Caffe Nero is capable of assimilating massive returns and achieving big economies of scale if it ventures to other markets besides the mother country.

When coffee market is near saturation as the case in United Kingdom, for a business to remain relevant it has to explore untapped potential in different areas. Concentrating its businesses within mother country proves disastrous in the long run as revealed by the ever increasing competition (Mead, 2005).

At the heart of operation in London Caffe Nero is deficient of its own operating business premises. This is critical for the purposes of offering convenient services to customers. Consumers would prefer businesses which are located at convenient points, renting of spaces cannot be effective solution to this because there is big uncertainty on availability of appropriate premises.

Opportunities

Strong partnership with Royal bank of Scotland for financial provision gives a lee way towards expansion plans for the organization. The funding offered at negotiated interest rates, provides adequate time for the purposes of implementing payoff while at the same time minimizing the liability value of the company.

With this the company is in robust position of venturing into new markets with acquisition of critical assets for the business. There is potential of accessing extra revenue with the intentions of globalizing the business.

The company has identified the need of moving to various provinces away from the saturated London for the purpose of tapping into new businesses and secondly the company plans to go global by first exploring western European countries. Their reasoning is justified because these countries have similar culture in consumption of coffee which is very crucial for the expansion of the business (Kotler et al, 2005).

Acquisition of other related businesses, by raising financial stakes in Republic Coffee to 10.7%, have made it clear their intention of buying out the business.

This is critical to controlling market share and for the purposes of expanding strategies. If the process continues then Caffe Nero will use outlets previously used by their rivals to penetrate new markets easily, this strategy helps in further lowering the costs of transacting businesses.

Threats

Recent negative publicity surrounding the coffee drink and food industry provided an impediment towards realization of a continuous business trend.

When reputation of an organization is dented there is general fear among its consumers that they will not get value for their money, moreover the food industry in which Caffe Nero operates is very sensitive whereby any bad impression created proves very costly to the business (Kotler et al, 2005).

Security in the expansion endeavors is not guaranteed. Especially when the organization expands its operations to global scenes, some cultures work against ideologies of western culture as seen through frequent terrorist attacks to businesses linked to western world. Massive investment could be lost within a twinkle of an eye and therefore there is critical need of conducting adequate risk assessment for the new business.

There is less attraction of potential customers in form of tourists due to effects of London bombing in 2005. This market niche has a big impact to the business as they provide premium revenue towards the organization’s finances. Whenever the number decreases due to security reasons then the organization is left with internal consumers who at times prove unreliable due to immense competition (Glass, 1991).

Acquisition of rental premises proves to be in jeopardy. Increase in rental prices by 30% proves costly for the business, since continuation of renting new premises helps in curtailing expansion plan of reaching critical forms of revenues.

The industry seems to achieve its end point within London which is the main base of operation due to small time players who happens to locate their business premises at convenient points for the benefit of consumers. This helps in creating stiff competition towards sales making the business unprofitable in the long run (Glass, 1991).

PEST Analysis

This is an analysis which seeks to measure market performance in relation to specific common businesses before any form of earnest marketing could begin. Pest deals with analysis of Politics, Economics, and Socio-cultural and Technological aspects within the market in relation to a specific organization.

These factors are considered critical when defining business continuity. The following presents PEST analysis for Caffe Nero organization located in London (Kotler et al, 2005).

Political Analysis

The country joined European Union in 1973, therefore its business ethics inclusive of tax, heavily relies upon the framework of European Union agreement.

The critical aspect is that United Kingdom does not subscribe to the use of a single currency in the form of Euro. Businesses seeking to operate in the country therefore have to be content with the inconvenient processes of transacting business using local currency which presents higher exchange rate values (Lovelock et al, 1999).

The country and its associated business worldwide are potential targets to terrorism. This emanates from political policies linking the country to countries which are on the fore front in fighting terrorism, involvement in Afghanistan war and London bombing of 2005 is evident associations.

Economic Analysis

United Kingdom has got per capital gross Domestic Product standing at $ 26,408 annually, this makes the country to be ranked the fifth economic power house globally with potential population of 60 million people. Gross Domestic Products amounts to over $1 trillion presenting big avenue towards expansion of businesses in terms of revenues.

Growing at an average rate of 2% per annum the transactions in the economies are never affected by fluctuations in local demand, this means that most businesses thrive due to investment both in and out of the country (UK Statistics, 2007).

Government reduced personal income tax from over 20% to 20% in the year 2007. This provided an incentive to consumers who by this effect now have more of expenditure power to the economy which is critical to business revenues. Business taxes were reduced by the same margin of to 28% in order to cater for more private investment within the economy.

The effect of this was reduction in cost of operating business premises. Small inflation rates in the year 2007 sent satisfying signals that the country standard of living was high, and that generally, prices of basic commodities were under close supervision by the government (UK Statistics, 2007).

Socio-Cultural Analysis

A good percentage of the total work forces within the country are foreigners contributing to almost 8% of the immigration rate. This in effect implies that cost of labor is significantly affordable which translates to reduction in overhead expenses of conducting a business. Since 8% of the total populations are non-whites, there is considerable diversity of culture and religion.

Most domineering religion is Christianity with scarcity of other religions including Protestants. With all these religion in diversity, the country stands strongly in business orientation as every aspect of the society is catered for (UK Statistics, 2007).

Technological Analysis

The country is more advanced in technology within all spheres of economy. The only impediment is lack of enough personnel in technological field including engineers. High public debt and low public investment is a critical impediment as laid down policies does not perform much in outsourcing research and development programs.

Generally, United Kingdom has economic factors which could hinder business investment within the country. Most critical is the non-flexibility in the use of currency in transacting businesses, secondly is the high costs on personal tax and lastly high taxes on business. These are few reasons amongst other factors which make global investment in United Kingdom as low and other countries preferred (Mead, 2005).

Marketing Strategies

The most appropriate marketing strategy for Caffe Nero is the adoption of a multi channel marketing strategy. This strategy focuses on reaching different segments of the society at appropriate time through a combination of different marketing principles.

The justification to this multi-channel marketing is that the organization brand becomes installed within customer’s minds as much as they are always associated with it.

Business today does not entirely focus on the brand but rather on customer satisfaction and customer care. As competition increases, and for transformation to be realized, there is apparent need in maintaining loyal customers for the purposes of building respectable market share (Aaronson, 2002).

These consumers need to be recognized and appreciated so that they could be considered as part of the company’s success. Traditional marketing was done through limited electronic and print media; this evolved with the addition of electronic marketing like World Wide Web which simplified costs of advertising and helped in greater coverage hence reaching potential consumers. Study conducted in 2002 by Aaronson showed that response rates from consumers increases significantly whenever business experiences improvement (Aaronson, 2002).

Multi-channel marketing places strategies which incorporate synchronization of communication tools ensuring that consumers are always reminded of the organization’s products. Customers interacting with businesses over multiple channels are more loyal than customers who interact through single channels.

Some key strategies for effective multi-channel marketing comprise of developing un-parallel response network. It is important that Caffe Nero develops a department in the marketing section endowed with responsibility on customer care. This section has to be managed by professionally trained experts so that quality services are ensured and never compromised (Parent et al, 2000).

Personalization of communication; Caffe Nero could realize high potential of demand from consumers when they communicate on personal basis through modes like e-mails. Consumers could be informed of new range of available products and current offers available. This creates an impression which considers customer as one of the most valued asset within the business (Lovelock et al, 1999).

Leveraging of more effective customer channel; marketing campaigns should be stressed towards channels that seem more effective and easy to interact with consumers. If for example web based advertising works out well for caffe Nero then more resources have to be dedicated to it because it would result into more demand and at the same time become cheaper in the long run.

With its broad scope of operation, it is more appropriate for caffe Nero to use web based advertising for the purposes of fully supplementing print and electronic media marketing strategies (Lovelock et al, 1999).

Conclusion

The summary on SWOT analysis does indicate that despite strong growth indicators of Caffe Nero in the local UK market, the future is pegged towards globalization revealed through critical factors known as market saturation. The only concern is to implement effective strategies in penetrating foreign markets and security concerns due to global politics; on a global front the company faces an imminent increase in profitability.

Recommendations

The use of service providers within transition channels; businesses with considerable clientele might find it challenging using new technologies in marketing as this is not core part of their daily business. Business like Caffee Nero could outsource customer care services through dedicated information communication companies so that the company maintains effective touch with consumers.

In their quest to expand globally and nationally the organization will have to interact with customers and intelligently shift them to channels which are convenient to both consumers and the business.

Reference List

Aaronson, J. 2002. Multi-Channel Marketing: Channibalism? Web.

Glass, N., 1991. Pro-active management: How to improve your management Performance. East Brunswick, NJ: Nichols Publishing.

Johnson, G. & Sexty, R. 1989. Exploring Strategic Management. Scarborough, Ontario: Prentice Hall.

Kotler, P., Armstrong, G., Saunders, J. & Wong, V., 2005. Principles of Marketing. (4^th European Edition). Pearson Education Ltd: Harlow.

Lovelock, C., Vandermerwe, S. & Lewis, B., 1999. Services Marketing: A European Perspective. London: Prentice hall.

Mead, R., 2005. Cross Cultural Dimensions; International Management. Cambridge: Blackwell, pp 27-54.

Parent, M., Gallupe, R. B., Salisbury, W. D., & Handelman, J. M., 2000. Knowledge Creation in focus groups: Can group technologies help? Journal for Information & Management, 38 (1), 4758.

UK National Statistics, 2007. Economic statistics, Government report. Web.

Ulwick, A. W., 2002. Turn Customer Input into Innovation. Harvard Business Review, 80 (1), 91-97.

Whyte, W. F., 1982. Interviewing in field research. In: R. G. Burgess (Ed.), Field Research: A sourcebook and field manual. London; Cambridge.

A case of cultural penetration on the international market

The international market has for the past decades been characterized by high competition among different organizations as they all seek to gain their customers’ loyalty. Such organizations are therefore faced with difficulties especially on maintaining a competition position in the market as they strive to succeed as a business and to survive the tough competition. Thus, strategic plans have to be put in place and carefully executed to ensure that such organizations meet the ultimate goal in business which is company growth.

Although external factors are great determinants of an organizations growth, there are certain internal factors which determine the direction of the organization. Despite the fact that there have been drastic improvements on the economic and technological methods and strategies for marketing, other factors have to be taken into consideration to ensure that products and services are promoted to a wider market range in order for the organization’s targeted market to be reached (Mohan, 2005, p. 1).

The most important factor to be considered and emphasized is the sales and marketing field of a company’s strategies. The target market should be well defined failure to which a large part of the targeted market can be lost especially where a company generalizes its target market. Customers are as important to any business as the employees. Thus any organization should work on the basis of satisfying its customers.

Marketing plans should therefore be strategized in a way that they cater for the customers’ needs. As a result, there arises a complication in the organizations’ need to gain maximum profits. This is where retention of customers through customer satisfaction comes in as the most important and potent weapon by any company to fight and gain competitive advantages in the market. Once this is well executed, profitability and growth comes in automatically.

Consumers and culture

In the end, the decision on purchase of products lies entirely on the consumers where some may be biased while others may be goal oriented. The method of the market chain also matters with many retail shops being the final chain of supply.

Such stores have an important role in the decision making of the consumers. The physical appeal demonstrated in such retail stores determines the value of services being offered. However, the consumers remain the final decision makers as many of them go for personal preferences rather than the actual performance or value of the product on sale.

For instance, a consumer may choose to purchase a product which expresses personality attributes such as social status rather than choosing one which is functionally beneficial to the consumer (Parner, p. 1). However, consumer behavior is affected by not only personal likings but also other factors such as customer satisfaction and service provisions and the level of persuasiveness in advertising the product in question.

On the other hand, culture influences consumer behavior through its values and beliefs which in some cases may be restrictive to the targeted consumer. The impact of culture on consumer behavior has two different perspectives. One perspective is where culture is defined as a communal distinction of the mind which differentiates a certain group of people from the rest. The second perspective of culture is based on the way that one understands a certain subject based on the issue at hand.

Thus, cultural impacts on consumer behavior determine the relation between a communal act and execution of a productive activity. Values are the basis of one’s attitude or lack of attitude towards something. Such values include happiness, pleasure and freedom and they can have influence on the lives of individuals. Other influential values are heroes who are seen as icons in the society and have significant influence on the lives of the people belonging to that community.

Just like cultural values, heroes may as well have impacts on the consumer behavior through their association with certain products and not others. Similarly, certain rituals and other symbolic activities have influence on consumer behavior especially where certain activities such as brushing teeth and bathing are performed regularly and associated with a certain believe or religion.

Companies therefore need to ensure that their target consumers are responsive to their products in relation to their marketing strategies. Companies which are aware of their consumer response towards their products have the competitive advantage of being able to improve the products in regard to the consumer responses (The times 100 2011, p. 1). This is best done by examining the marketing framework of the consumer.

The factors to consider when examining the consumer behavior and response include the product itself, price of the product, the location of the customer as well as the promotion method of the product. Other factors to be considered may be economical or technical. For a company to have a positive response from the consumers, all communication strategies should be directed to an already identified target of consumers. This aspect is meant to create a communication strategy that ensures that the product is supported.

Recommendations

The most important thing in coping with the ever increasing competition in the market is understanding the nature and characteristics of products available in the market since this sets a framework under which a successful marketing strategy can be executed. However, having the product knowledge alone without a clear understanding of the target market can be damaging to the marketing efforts.

Conducting research on the references and lifestyles of the target market should also be ensured to assist the company sent the correct message to its target. This helps in gaining loyalty of the targeted market. The products and services being offered should as well be in line with the economic status and the purchasing power of the prospect market (Thinking made easy 2008, p. 1).

There should always exist a mutual recognition between companies and policy makers in order to prevent failure of the market strategy and in other cases avoid legal implications. Examination of the media networks should be done to promote the distribution of local products. Investigation of the local environment surrounding the target market is equally important to promote better understanding of the audience.

International marketing research

The need to conduct marketing research has, over the past decades, become a very critical tool as businesses continue to expand each day. Thus various researches have been conducted to help in improving international marketing strategies in order to offer support to firms.

Research on international marketing has to pay attention to the growth opportunities of the market especially in the non industrialized countries. Conduction of the research should be carried out in a manner that allows for coordination of varied environmental set ups. Since the main goal of researching on international marketing is to promote business growth, the researches should be probe into approaches to cease the cultural effects of consumers on behavior (Craig and Douglas 2001, p. 82).

With the increasing changes experienced in the global markets today, businesses are faced with challenge of tough competition in strategizing their marketing skills. Their information needs are similarly changing as it provides a basis under which businesses make decisions in relation to the competitive business environment. This therefore calls for researches on geographical boundaries for identification of both local and global markets with the aim of integrating marketing strategies across all borders.

This is also essential in preparedness of market changes as well as formulating responsive strategies to those changes. Due to the increasing need of geographical studies, marketing researches need to reach out to a much wider and diverse market range. This entails the collection of data and other research tools from unfamiliar markets all over the globe. However, this poses some challenges since the data collected may not be as accurate and reliable as that collected from the regional markets.

Similarly, prediction of response to such researches as well as the interpretation of the market strategy may be difficult due to unfamiliarity of the regions. The increasing advancements in technology has, however, enabled rapid collection of data on a much diversified geographical scale due to improved communication and infrastructure is many regions around the world (Craig and Douglas 2001, p. 84). This study explores the implications associated with conducting market research on a global basis.

The development of the international marketing research

In order to have a better understanding of the research needs, it is essential to first look at the changes that have occurred for the past few decades. Initially, many firms were only concerned about domestic markets until they expanded into international markets with the aim of accessing information in order to identify the best markets to position their products. As a result of this expansion, research needs have changed and become much broader than before.

Besides integrating marketing strategies across the globe, there is also the need to examine the relation between consumer behavior and responses between countries. Although market growth is slowing down, countries such as India and china are potential market economies with a market target of more than one-third of the world’s population. Venturing into such markets requires firms to have first hand information on the market opportunities, price restrictions and ways of promoting their products effectively.

Diverse research contents

Most of the commercial research has been conducted in Europe, Japan and the U.S. with an approximate sum of $10.2 billion dollars. However, these regions only account for an 11% of the total marketing research spending.

Therefore, conducting researches on other emerging international markets will change this imbalance (Craig and Douglas 2001, p. 85). The emerging markets which are in developing countries are always changing as consumer living standards and purchasing power keep on changing as well as attitudes on foreign products.

Such changes are hard to predict and this makes the research much more difficult coupled with lack of adequate technology in such countries to carry out the research effectively. In addition, technological advancements in the developing countries such as Africa focus mainly in infrastructure development which changes the way of life of the people and further complexes the process of conducting marketing research.

However, these findings may not be reliable today as many countries even in the less developed world are becoming more and more economically stable and this could mean that conducting marketing research in such countries could now be much easier and more effective and reliable than before. Marketing research in 21^st century should be broadened to cover all market potentials across all environments.

Positioning research efforts with market growth

The most important factor to consider when researching on marketing is to focus on the future potential of markets to grow. Despite the fact that most research has been concentrated on industrialized countries, the much needed high potential market growth is in the developing countries such as Asia and Africa.

However, such regions require great understanding on the differences experienced in marketing environment. Additionally, the respondents’ ability to understand the questions matters a lot in the accuracy of the results being obtained.

Another major problem associated with the emerging markets is the lack of adequate literacy and familiarity with the economic world. Therefore, it is important to design research instruments which can be easily adopted in both the developing and industrialized countries. Additionally, the teams of researchers need to be from diverse backgrounds in order to provide a wide and non ambiguous interpretation (Craig and Douglas 2001, p. 87).

Employing the use of new tools in conducting marketing research is also important to promote a better understanding of the changing market trends. For instance, qualitative research may be employed to give an understanding of consumer consumption and purchasing power but cannot be used to determine the best advertising method. In this case, other techniques such as extension of creativity groups can be employed to help in identification of ideas, trends and various concepts in a certain culture.

Incorporation of technological advances during research is equally needed to facilitate faster data collection and analysis and consequently, data interpretation. For example, researchers can use the internet to access secondary data which may be used in comparison with primary data to give concrete interpretation of the study.

Conclusion

As the world is constantly changing, various aspects of life are changing including personal and business life. Such changes are however coming in at different times and rates around the globe.

Due to these changes, marketing research is required to be done diversely and the fastest possible in order to proved high quality and effective results. The various aspects of marketing research depend on the geographical region of the study, tools and technology to be used and the kind of respondents to work with (Craig and Douglas 2001, p. 89).

It is therefore the duty of marketing researchers to employ the use of technology advancements in order to enhance efficiency in the research. There is also the need to develop strategies for conducting constant marketing research in both regional and global markets. This is because the increasing competition in the corporate scene calls for timely marketing research for facilitation of business growth.

Bibliography

Craig, C.S. and Douglas S.P. (2001), Conducting International Marketing Research in the Twenty-First Century,” International Marketing Review, Vol. 18, No. 1, pp.80-90.

Mohan, J. (2005). International Marketing, Oxford University Press, New Delhi and New York.

Perner, L. International marketing. Web.

The times 100. (2011). International marketing. Web.

Thinking made easy. (2008). International marketing of Tommy Hilfiger: a case study of cultural penetration. Web.

Introduction

Saudi Arabia is a country with a fast pace of development and investment opportunities. The market of this country is highly competitive and attractive for both local and foreign companies in terms of cooperation. In order to better understand the way Saudi businesses act, it is important to focus on their marketing strategies. This paper will explore the Saudi Arabian Oil Company (Aramco) to discover its vision, products, segmentation, competitive advantages, rivals, and micro and macro environment. The alternatives for further development will also be discussed in terms of the company’s current position, environment, and trends in the petroleum market.

Business Identification: Strategy and Products

Saudi Aramco is the national petroleum and gas company of the Kingdom of Saudi Arabia and the largest company in the world in oil production and oil reserves. Founded back in the 1930s in cooperation with an American oil company, it is completely controlled by the government of Saudi Arabia since 1980 (“Overview”). The company owns, manages, and develops all energy resources in the country, including the world’s largest oil and gas giant, Ghawar Field, and Safania-Khafji Field, the world’s largest offshore gas and oil field. According to information for 2017, it managed fields with oil reserves of 332.9 billion barrels, which remains the absolute majority of the country’s reserves. The company’s mission can be defined as establishing and continuously enhancing the full conversion refinery, acting as a reliable and cost-effective business.

The company’s business strategy is built on the idea of the global energy provision in order to improve human progress and sustain the worldwide community. The average daily production of the company is ten million barrels per day. According to the results of 2018, Saudi Aramco still became the most profitable corporation in the world – its net profit is more than $ 111 billion. For comparison, the United States occupied its first place with the production of 12.615 million barrels per day (“Saudi Aramco Downstream”). This is evidenced by the data of the Joint Organizations Data Initiative (JODI).

In addition to petroleum, Saudi Aramco also controls gas production in Saudi Arabia, while its subsidiaries are located all over the world – in the UK, US, and Japan, Egypt, Italy, China, India, Singapore, and South Korea.

The petrochemicals compose another product manufactured by Aramco in terms of the downstream business sector. The latter refers to petroleum refining of crude oil as well as processing and purification of raw natural gas. In particular, kerosene, gasoline, fuel oils, diesel, asphalt, and a range of other products are offered by the company to its customers. As reported by Nasser, Saudi Aramco President, and CEO, “we are expanding this business both in Saudi Arabia and in fast-growing overseas markets like China and India, with the aim of converting two million barrels per day of crude oil into petrochemicals” (“Saudi Aramco Downstream”).

Consistent with Saudi Arabia’s Vision 2030, Aramco will conduct research on crude-oil-to-chemicals complex creation in the region (“Saudi Arabia’s Vision”). In other words, the company acts as one of the key players in the global market of gas, petroleum, and petrochemicals.

Target Market and Segmentation

Among the typical customers of Aramco, there are the companies working in the fields of shipping, refining/chemicals, exploration/production, sourcing of materials, and distribution. Both small businesses and essential industries can cooperate with Aramco in the countries of its presence. The geographical method of segmentation is used by the given company to identify customers and divide them according to the country or continent.

The opportunity to determine the beneficial locations for investment and cooperation is the result of such an approach. Aramco also applies the so-called positive segmentation strategy to reach the target customers (Krane 102). This means that its customers are primarily distinguished by their needs, which can be met by the company through the provision of not only gas and petroleum but also petrochemicals. The different needs of customers allow this corporation to determine customer expectations in a timely manner and improve continuously.

The method of catering to the customers is an innovation that is used to enhance services and the overall energy supply. The key reason for the customers to purchase the products of Aramco is their high quality and the dedication of the company to their business. The innovative culture is encouraged by extensive research and development, which aims to ensure a bright future for its customers. Public relations and the image of Aramco are two more areas that attract customers, promoting loyalty, respect, and trust in the company.

The official website should also be noted as an important means of staying connected with customers, who can find necessary information, ask questions, and resolve emerging problems in a convenient manner. At the same time, the highly motivated staff of Aramco provides responsiveness and satisfaction to customers in the context of the welcoming organizational culture. Thus, Aramco’s customers receive the products, service, and quality they want, which makes them remain committed to the company.

Competitors and Differentiation

Shell Oil Company and Abu Dhabi National Oil Company (ADNOC) are two competitors of Aramco, operating in the Gulf region and worldwide. All of the mentioned companies are well-integrated businesses that assist in establishing a sustainable energy future. However, compared to Aramco, Shell seems to pay more attention to social responsibility and the so-called green energy. There is a range of projects that are devoted to producing cleaner and convenient energy. In addition, Shell prioritizes new energy sources, claiming that the planet needs to reduce carbon emissions and impeding climate change. In particular, the Net Carbon Footprint initiative was organized in order to meet the global ecologic efforts.

In turn, ADNOC is the most valuable brand in the Middle East, and this company invests a lot in its development. The exploration blocks were recently set in offshore and onshore potentials. As the 12th largest oil and gas manufacturer in the world, it attempts to increase due to technology implementation and significant support from the UAE government. It becomes evident that the competitors of Aramco are strong and dedicated to their businesses, which makes it essential to have a competitive advantage and offer the customers greater value to keep their attention. For Aramco, the competitive advantage –is identified by its vision that is as follows: energy is opportunity.

The initial public offering (IPO), also known as listing, of the world’s largest oil company, Saudi Aramco, was first announced in 2016. After conflicting reports in 2018 that the corporation abandoned this idea, the company authorities nevertheless confirmed that they would conduct an IPO and announced the dates: 2020–2021. A year later, the media reported that it could be held in London, Tokyo, or Hong Kong. An IPO is the company’s public offering and the first public sale of shares to an unlimited number of people. In other words, the organization for the first time launches its shares on the market, so that the investors who were not related to it from the very beginning could purchase them.

Aramco’s key competitive advantage lies in fostering innovation in every aspect of their business. For example, the customers are offered the company’s products via advanced means of presentation. The progressive technological processes also contribute to Aramco’s positive image and communication with clients. It should also be stressed that the marketing strategies of the company strengthen its position in the petroleum market. In order to manage customer loyalty, there is a set of processes for quality assurance as well as some environmental efforts. The latter include the plans regarding reducing the ecological footprint, yet the assumptions are not yet implemented in practice.

In the case of Aramco, the IPO, another competitive advantage, offering pursues several goals, the priority of which would determine the expected benefits. The first advantage is the improved image, status, and credit rating. The latter is especially important since it is easier for public companies to obtain a loan than private ones, and public status obliges them to regularly report on financial results. Second, it is likely to help in raising funds, which is, perhaps, the main reason for entering the stock exchange. The company receives funds that can be used for development, while the market players begin to sell and buy its securities.

More to the point, the IPO would diversify business and increase corporate governance and transparency. However, there are obvious disadvantages to entering the exchange as stocks straightforwardly respond to changes in investor sentiment. The scandals surrounding corporations, their quarterly performance, and high-profile statements by management can collapse securities rather rapidly.

Business Threats

There are several current challenges to be taken into account by Aramco to ensure that its development will continue and its full potential will be achieved. First, there is the economic danger that may occur in both short- and long-term periods due to the volatility of the global economy. Another point that is worth paying one’s attention to is the increase in the costs of mining and refining, which can also impact the overall prices for Aramco’s products. The rise in labor costs can be one more potential challenge, and this threat cannot be easily anticipated since the company works in many countries of the world.

Second, the diversification of the product sale seems to be beneficial to address the overconsumption problem. The level of energy consumption per capita in the Middle East region, including Saudi Arabia, is higher than in a significant part of the industrialized countries. For example, domestic demand for oil in Saudi Arabia is growing at an incredible pace. Therefore, the authorities should look for more effective ways to solve the problem. This possible damage is complicated by the fact that Aramco’s profits tend to slightly decline over the years, which is caused by the presence of strong rivals, whose business strategies make their products more demanded. In other words, a lack of new product lines in the near future poses the risk of even more reduced revenues.

In addition, a lack of downstream services promotion. However, the first step towards addressing the above threat was already taken by Aramco that initiated the related research, and started planning. As a part of the Accelerated Transformation Program, the company aims to accomplish significant results through technology improvements and research centers spread all over the globe. The general sustainability of the company, nevertheless, along with the leading market position is likely to help Aramco to survive and become much more effective.

Alternatives of Aramco

The critical review of the current marketing strategies adopted by Aramco demonstrates that it operates effectively since the results are convincing. Although the company is among the leaders of the gas and petroleum industry, it is still necessary to diversify the products, thus remaining competitive and competent in the rapidly developing world. One of the alternatives that can be recommended is focusing on new business lines by means of acquisitions and investments. The extensive implementation of technology is likely to allow Aramco to become a knowledge-driven organization, which will help in selecting proper partners and other stakeholders.

The second issue that can be done differently is working more with renewables. Today, energy policy is closely linked to environmental issues, affecting the status of oil giants in the world ranking. The problem lies in the existing model of oil powers that have a wasteful attitude to nature, which also leads to global warming. Greening, the oil industry is a fairly new phenomenon on the market. For example, by cultivating the technology of solar generation, it is possible to make it economically viable to use renewable energy sources for oil production. This will allow the Gulf countries to focus even more on exports, instead of burning their own oil and natural gas to generate electricity. In other words, the generation of solar energy to improve production efficiency in developed fields, which will also reduce current costs for oil production.

The third opportunity for Aramco is associated with the expansion to new markets and the deeper entrance to the existing ones. This recommendation is especially pertinent to the Asia-Pacific region, which is characterized by the quickly growing population size. It is rational to expect the increased demand for energy from such countries as China, Vietnam, India, and others located in the mentioned area. In this connection, one should prioritize the diversification of products and options for expansion simultaneously. It goes without saying that a detailed analysis of these markets and their anticipated demand should be conducted. Most importantly, the cultural and social aspects should be taken into account since the Arab and Asian contexts differ considerably. As a result, Aramco would face the growing demand from new customers, thus improving its profitability.

Micro and Macro Environment Actors

The microenvironment of Aramco is marked by its internal organizational culture and stakeholders. It is important to note that this is a state-owned enterprise that is strictly controlled by the government. Amin Nasser, the President, and chief executive officer are responsible for all major decisions taken by the company, especially those that have a global impact. The senior vice president, general counsel, and corporate secretary, Nabeel Mansour, takes the post of the second internal actor, who manages the design and implementation of professional programs, oversees corporate supply chains, and leads logistic operations.

The Board of Directors, which is headed by His Excellency Yasir Othman Al-Rumayyan, the Chairman, performs the role of the body that provides guidance associated with the company’s long-term strategy. Aramco’s employees compose one more valuable asset of its internal environment (Alsamman 132). They are trained in terms of the Saudization movement that implies equipping the Saudi Arabia population with relevant skills so that they can succeed in the professional area.

The external environment actors of Aramco are investors, partners, customers, and competitors. In order to analyze this sphere of interest, it seems to be useful to apply Porter’s 5 Force Model with its dimensions. The review of the global oil and gas market shows that Aramco has a low threat of new entrants since there are huge investments needed and no switching costs. The threat of substitutes, buyer power as well as supplier power can also be determined as low due to the unavailability of substitute products for the energy sector. Ultimately, the degree of rivalry can be regarded as a medium even though the competitions mentioned earlier in this paper have strong points.

Although their business strategies seem to be elaborated and comprehensive, those of Aramco also cannot be underestimated. The leading positions, great investments, and a clear vision of the future make the company successful. The Organization of the Petroleum Exporting Countries (OPEC) is the organization that largely impacts the performance of Aramco since it oversees the majority of the global reserves.

Speaking of the investors and customers, one should state that Aramco possesses wide distribution channels and skilled employees. The most common marketing the company uses today is business-to-business relationships, and it should be stressed that the petroleum sector is firmly regulated. The foreign refining ventures of the company include Fujian Refining and Petrochemical (China), Motiva Enterprises (the United States), Reliance Industries (India), Showa Shell (Japan), et cetera. In addition, Aramco pursues the strategy of merging and acquisition: it acquired 13% of Hyundai refinery in South Korea and plans some other agreements in the future.

As for the suppliers, the company invites them to join the e-marketplace platform, SAP Ariba, which provides the opportunity for online trading between the company’s partners and Aramco. While it was owned by the state for many years, the initial public offering (IPO) that was discussed in the previous sections of this paper is likely to attract investors and boost the further development of Aramco.

Conclusion

To conclude, Aramco is a national Saudi company operating in the sector of gas and oil manufacturing. It is known as one of the world’s largest companies with subsidiaries across the globe. The current mission of the company defines energy as an opportunity, and its business strategy is associated with innovating the products and services to provide customers with the best experience possible. Shell and ADNOC are analyzed as the key competitors, yet it is found that Aramco has a competitive advantage. The introduction of IPO and a focus on innovations compose the competitive strategy of this company.

Although there are such potential challenges as a lack of diversification and global economic volatility, it is expected that Aramco would handle them successfully. The recommendations on alternative strategic decisions include expansion to the Asia-Pacific region, product line diversification, and emphasis on renewable energy.

Works Cited

Al-Samman, Adel Mahmoud, Saeed Hameed Aldulaimi, and Muhammad Alsharedah. “Training Effectiveness and Commitment to Organizational Change: Saudi Arabian ARAMCO.” Management and Administrative Sciences Review, vol. 5, 2016, pp. 128-142.

Krane, Jim. “A Refined Approach: Saudi Arabia Moves Beyond Crude.” Energy Policy, vol. 82, 2015, pp. 99-104.

“Overview.” Saudi Aramco, n.d. Web.

“Saudi Arabia’s Vision for 2030 and Saudi Aramco.” Saudi Aramco, n.d. Web.

“Saudi Aramco Downstream Strategy to Combine Organic Growth with Strategic Acquisitions, Saudi Aramco CEO Amin Nasser says at GPCA Forum 2018.” Saudi Aramco, n.d. Web.

Primary data

When conducting research there are particular categories of data that are considered particularly important. They are found in two major categories. They include primary and secondary data. These provide two different types of information. They are differentiated by the methods of collection and also by the kind of information collected. Primary data being the initial information collected is particularly essential. It is first-hand information from respondents.

It may be gathered by the research assistant. It can be collected through several methods. They include combining different points from focus group discussions, testing of products from garden centers. This is done by asking the consumers about their opinion about the different products offered.

Primary data can also be collected through observation. The researcher can examine and analyze consumer behavior. By doing this, their preferences can be noted. Having personal interviews with customers who visit the garden centers is also a way of collecting primary information. The management can agree upon setting a specific place whereby the consumers are interviewed after visiting the premises. Most people will open up and give their views about the company.

However, this method may experience some challenges for example in a situation whereby the customers lie about their opinion or fear to give the whole information. If the research relies on this data the results will be affected. Other techniques that can be applied in additional are the expert’s opinion, through interaction with different clients, and by conducting surveys about the garden center. By using different methods, the challenges experienced in one method may be covered up by the other methods.

Secondary data

Secondary data is also vital in research. However, this type of information requires a detailed reading. It is found in a variety of places. They include libraries; both the private and public libraries, the internet is as well a reliable source of this kind of information. Some information may be found in government agencies and newspapers, data can also be gathered from the database of the garden center company itself. Statistics of countries have been found to be among the most reliable sources of information.

Secondary data on the purchasing habits of customers

There are various aspects of the clients and their purchasing habits that can be retrieved from secondary data. The garden center company should inquire about how the customers feel about the pricing, the service delivery, and the treatment they receive. Such information is extremely essential when it comes to the strategies of improving the company. This research will also highlight the inconveniences the consumers receive due to bad weather. The purchasing habits and power of the clients are also essential.

The sampling frame for providing primary data

When collecting primary information sampling is vital this is because dealing with a small group of people is much easier than a large group. The initial step of sampling is defining the total population that will be referred to by the researcher. There usually are a good number of factors that determine the preparation of a sampling frame. They include the quality and nature of the sampling frame required. The quality may affect the collection of primary data and it is therefore very important to consider it. The other important thing is the accuracy needed. Sampling if done well will produce accurate results. This is what is expected of every research it is also important to present a reliable frame.

There are various types of sampling methodologies that can be applied in the collection of primary data. The most vital thing to do is to ensure that the method that has been chosen is well understood and can be applied comfortably. Below is a list of some of the common sampling techniques. They include Simple random, Systematic, Stratified, Probability-proportional-to-size sampling, Cluster, Quota, Accidental, Line-intercept, and Panel sampling.

Survey methodology for providing primary data

The process of research methodology development is subdivided into steps. The first step is to determine the sample size of the total population, to design the research, to develop the data collection tools and pretest them, to ensure validity and reliability of the results, and lastly to analyze the data. The preparation of research can be done through various methods; they include mixed, quantitative, and qualitative methods.

Plan for the collection of both the primary and secondary data

The collection of data concerning the company of garden centers is expected to take a total of 30 days. This is inclusive of both the primary and secondary data. The research marketer will start by gathering primary information followed by secondary data. In the first four days, the research assistant is expected to put together different points from focus group discussions after which the testing of products from the company will be done for a period of three days.

As part of the data, collection procedure observation will be done, this will take three days and an additional two days of which the report will be combined. The company will also organize five days for conducting personal interviews with customers who visit the garden centers. The process of collecting secondary data will take ten days. This will include intense research on the issues affecting the company. The remaining five days will be used to arrange the data collected into an organized format that will be easy to use later.

Questionnaire

Purchasing habits of consumers of garden centers company

Administrative Details

Questionnaire ID NO …………………………………..

Name of estate……………………………….

Name of interviewer……………………………………

Name of respondent…………………………………..

Date of interview……………………………………………

Questionnaire checked……………………………..

Date checked…………………………………….

Tick in one box

• Have you ever shopped in Garden centers before?
  • YES
  • NO
• If yes, how did you find the prices of the company? Explain……………………………………
• Did you enjoy the services offered?
  • YES
  • NO
• How many times in a month do you shop in Garden centers company?
  • Once a month
  • Twice a month
  • More than twice a month
• Have you ever lacked any product in garden centers? Explain………………………..
• What would you recommend about our products? Explain…………………………….
• Which time of the year do you shop most?……………………………….
• Does the weather interfere with your shopping patterns? …………………….

A graph of the level of risk in the garden company against the seasons of the year.

Businesses need to complete different research if they are to implement their business models efficiently. Kotler and Keller (2016) define market research as the process of collecting, reporting, and analyzing data that is applicable to a given marketing situation. This initiative remains critical in both large and small organizations since it supports the delivery of the intended goals. Companies can implement the marketing research strategy by following six unique stages. The first one entails the identification, definition, and description of the identified problem and the intended research objectives. Kotler and Keller (2016) advise managers to avoid the habit of describing the targeted concern too narrowly or broadly. The best strategy is for the involved professionals to focus on the most important aspects of the market objective or issue.

The second step of the research process is the development of the intended plan. During this phase, the researcher’s first role is to identify primary and secondary data (Kotler & Keller, 2016). Some of the common tactics experts employ to acquire much-needed information entail the use of surveys, focus groups, experiments, and behavioral data (Kotler & Keller, 2016). Questionnaires, qualitative measures, and mechanical devices play a significant role during the process. Involved professionals will rely on an effective strategy to contact and liaise with the identified respondents, such as the use of mail, telephone interviews, or face-to-face interactions.

The third crucial stage for marketing research is the collection of high-quality information based on the targeted business aim. During this phase, researchers should ensure that the gathered data and ideas are applicable to the selected scenario. The interviewer needs to acknowledge that some of the respondents might give biased, inaccurate, or dishonest insights during the process (Kotler & Keller, 2016). Additionally, the adoption of computer and information technology (IT) systems is an evidence-based approach that can streamline the process.

The fourth step outlined in the studied text is that of information analysis. The professional will use this phase to extract the needed data, tabulate, and develop the relevant frequency distributions. The individual will go further to compute measures of dispersion and averages for the recorded variables (Kotler & Keller, 2016). Modern statistical models and techniques are useful for unearthing new findings (Kotler & Keller, 2016). The fifth step of the process is the presentation of the gathered information to the company’s top management. During this stage, it is the researcher’s role to consider the most appropriate or relevant statistics that resonate with the identified problem. This strategy will make it possible for the involved business leaders to formulate the best decisions and consider how they can formulate a practical action plan.

The final step of the marketing process is the formulation of the most appropriate decision. The manager who commissioned the specific study will complete the stage by examining and weighing the presented evidence (Kotler & Keller, 2016). According to Kotler and Keller (2016), the use of Marketing Decision Support Systems (MDSS) could guide marketing leaders to make informed decisions. They arrive at such conclusions by analyzing the presented data using the best software in the industry (Kotler & Keller, 2016). Such systems have the potential to interpret the collected information from the business environment and support the formulation of evidence-based decisions. The involved decision-makers at the company will eventually formulate the best plan and influence marketing actions.

Reference

Kotler, P., & Keller, K. L. (2016). Marketing management (16^th ed.). Pearson Education.