market research 4

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the business is a dog walking service. The report is only 5 pages long so ignore page counts on description below.

Research Design:

Background

The Background section provides the context and focus for the consumer analysis. Secondary research is expected for this section, drawing on information from company reports, online sources, (Not Wikipedia) news articles, etc. The section should include:

Marketing Strategy Problem:

In 2 pages, describe the current situation, and identify the specific marketing/business strategy problem.Use course concepts in your explanation.For example, from the organization’s perspective and the consumer’s perspective, explain whether this problem is one of affect and cognition, behavior, environment, or a combination.

Research Project

The secondary research element:

The student is expected to use research methodology to better determine who they think their target market will be for the customer. Content will be 4 pages

Consumer Analysis

Use a form of primary research to gain information on and understanding of the consumer.This may involve observation research, a focus group, interviews; survey monkey is a good tool to use for this part of the paper.Describe your research objectives, method and findings in 4 pages.What did you want to know?How did you study it?What did you learn?

Customer segmentation

In 2 pages, describe the customer segment that is most relevant to the marketing problem you identified.Explain the segment’s current or potential value. You will need to define and analyze the current target markets, and specifically who is the current targeted customer. Having the basis of who the customer is, now create a profile of who the customer should be, and how do you define, target, and segment that customer. I fully expect that the paper will approach this from a different position than is currently being used.

Recommendations

Conclude the report with 3 pages of recommendations, based on the secondary and primary research you conducted.The recommendations should address the marketing problem you identified, and may involve aspects of segmentation, positioning, and marketing mix decisions.Be specific.Suggest how your recommendations could be implemented.Also, identify what additional research you recommend.

This is intended to be an individual project, and provide the student the opportunity to demonstrate their understanding of consumer behavior, and the relevancy to the marketing environment that we are exposed to every day.

Customer Analysis Components:

Consider using this list as a check list to insure you are including relevant detail in your final project for your business plan.

The Challenge

Provide a brief description of a product or service to be marketed and associated goals, such as sales figures and strategic goals. Situation Analysis and company Analysis

* Goals
* Focus
* Culture
* Strengths
* Weaknesses
* Market share

Customer Analysis

* Number
* Type
* Value drivers
* Decision process
* Concentration of customer base for particular products

Competitor Analysis

* Market position
* Strengths
* Weaknesses
* Market shares

Macro-environmental PEST analysis:

* Political and legal environment
* Economic environment
* Social and cultural environment
* Technological environment

SWOT Analysis

A SWOT analysis of the business environment can be performed by organizing

the environmental factors as follows:

* The firm’s internal attributes can be classed as strengths and weaknesses.
* The external environment presents opportunities and threats.

Market Segmentation

Present a description of the market segmentation as follows:

* Description
* Percent of sales
* what customers want from the product
* How customer uses the product
* Support requirements
* How to reach the customer
* Price sensitivity

Alternative Marketing Strategies

List and discuss the alternatives that were considered before arriving at

the recommended strategy. Alternatives might include discontinuing a product,

re-branding, positioning as a premium or value product, etc.

Selected Marketing Strategy

Discuss why the strategy was selected and the marketing mix decisions (4 P’s)

of product, price, place (distribution), and promotion

Product

The product decisions should consider the product’s advantages and how they will

Be leveraged. Product decisions should include:

* Brand name
* Quality
* Scope of product line
* Warranty
* Packaging

Price

Discuss pricing strategy, expected volume, and decisions for the following

pricing variables:

* List price
* Discounts
* Bundling
* Payment terms and financing options
* Leasing options

Distribution (Place)

Decision variables include:

* Distribution channels, such as direct, retail, distributors &intermediates
* Motivating the channel – for example, distributor margins
* Criteria for evaluating distributors
* Locations
* Logistics, including transportation, warehousing, and order fulfillment

Promotion

* Advertising, including how much and which media.
* Public relations
* Promotional programs
* Budget; determine break-even point for any additional spending
* Projected results of the promotional programs

Short & Long-Term Projections

The selected strategy’s immediate effects, expected long-term results, and

any special actions required to achieve them. This section may include forecasts

of revenues and expenses as well as the results of a break-even analysis.

Conclusion

Summarize all of the above. A final paragraph should be included to summarize if

you think your Marketing plan will be successful. Do you need to make

changes based on your research, or perhaps this won’t work, and you need

to evaluate a different direction.

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