Business Archives – Page 46 of 52

 

Contents

Executive Summary. 3

Background and Management Problem.. 4

Approach and Research Objectives. 5

Research objectives. 5

Overall Design. 6

Procedures and Data Collection. 7

Steps. 7

Data collection –Qualitative Research. 7

Sampling. 8

 

Executive Summary

 

This report is based on a particular brand low performance hence the responsibility of the group to identify the factors behind its failure. The results will enable the organization to implement strategies in improving the brand’s performance.

The background offers the description of the situation, aligned with importance of conducting a marketing research. Various factors have been considered in respect to marketing research concerning the factors connected to the brand’s failure.  Mostly, the consumers are the main factor in determining the success of the product and its brand. On the other hand in this report, the promotional factor is also considered for the product based on the practices adopted by the Sales and Marketing department as well as the presentation of the products in the market. To garner more insight to consumer perspective, the project also considers the involvement of both Sales and Marketing team for promotional and distribution factors and Retail outlets owners for the consumers attitudes and behaviors.

The sample is comprised of 500 respondents selected in five retail outlets offering the products. The 500 respondents are categorized as male and female to prevent to biases in data collected. In addition, the proposal has also stipulated the need keep information of the respondents confidential hence the random sampling. The timeframe of four months has been broken down in consideration of tasks complexity against time required for completion.

 

 

Background and Management Problem

 

This section outlines the situation, hence identify varied issues. To understand the approaches to implement, desk research we will establish the effectiveness of marketing research in connection to the management problem. Therefore, the situation is based on the brand performance which has been decreasing hence the mandate of the team in identifying how best to approach the scenario. There are probable approaches to this situation in reference to formulating strategies for the product reinvigoration, developing an ultimate change or phasing the entire brand. To arrive at a suitable approach, first it is important to understand the significance of marketing research in brand management.

According to (Churchill,2001), marketing research is a tool in management with the function of assessing the limitations and opportunities in marketing goods or services, hence derive strategies to improve on limitations, work on opportunities and consistent monitoring of performance. According to (Malhotra, 2010) for successful marketing, an organization has to conduct marketing research through a systematic process to achieve credible results. (Zikmund, 2000) adds that, marketing research is mostly initiated in reference to new product, outperforming brand, or a continuous process to diversify approaches for competitive advantage. Malhotra (2010) maintains that, when a product is not performing well, there are uncertainties with the customers. To regain the trust back; an organization has to consider the value of consumers in creating a strong brand. This can be attained through marketing research, to garner their opinions.

Sudman and Blair (1998) affirm that marketing research also aims at solving problems in regards to marketing approaches, the general brand and many other aspects. Based on that, the initiative taken by the brand management team is to facilitate recovery of the brand through identifying problems to be solved. Further, in marketing research, it is crucial to identify the marketing aspects in promoting products, hence effective investments (Malhotra, 2010). Burns and Bush (2000) highlight the essential approaches to solving brand issues through assessing where the root of the problem. First, it could be the product(s) hence a product research which focuses on new products and also, improvement of existing range of products. Secondly, determining the effectiveness of sales which offer insights on how the brand is being purchased through studying particular retail outlets. Thirdly, the consumers are the prime determinants; hence identify their behavior to the brand.  Another area involves the pricing of the product as well as the promotional methods utilized for the brand.

 Approach and Research Objectives

Research objectives

The general objective is to evaluate the poor performance of the brand. Supporting objectives for thorough analysis are:

    To assess the current brand management strategies.

The focus will dwell on the promotional approaches for the brand within the market, to identify if they assimilate well with the consumers, hence derive more effective strategies for brand reinvigoration.

    Overall Design

     

    According to (Global Marketing Research, 2011) marketing research must consider the objectives set for solving a particular problem in selection of a research design. The research design further can be used to determine why the brand is performing poorly. To achieve this, the research has to identify, who, what causes the problem, where the problem is identified, when and how to deal with the problem. On the other hand the research design has to consider how identified factors causing the failure are interrelated.

    Procedures and Data Collection

    Steps

    First, the research will initiate from the company. Therefore, we need confirmation in accessing records on the product and its brand. We maintain confidentiality, such that the information in the records will assist in determining the performance of the products. In promotional aspects, the sales and marketing team inclusion in the project has a significant contribution. Information expected from the company and the sales and marketing department involves the correspondence to the consumers, distribution channels for the products, the consumers purchasing patterns, complaints handling and identification of potential opportunities.

    External research will focus on the competitors and the behavior of the consumers in purchasing the products. In reference to the competition, the research will identify the promotional approaches used (Malhotra, 2010), their advertising techniques as well as their products presentations (Sudman & Blair, 1998) in packaging and delivery.

    Data collection –Qualitative Research

    The objectives of this report will also probe an exploratory application of research paradigm. The research will focus on understanding the promotional approaches used by sales and marketing team and the attitudes of the consumers towards the products and its brand.

    • Questionnaires will be randomly administered to the consumers. This has been chosen to maintain cost effectiveness.
    • Personal interviewers will be administered to a select group of retail outlets proprietors. This is effective for comprehensive information on brand issues.
    • Observation of consumers’ behavior in the retail outlets is also proposed as this as no relative influence on the behavior of the consumers.

    European Society for Opinion & Market Research (ESOMAR, 2011) affirms that, in conducting marketing research, it is important to consider the consent issue for the population in the sample. This is further echoed by (Australian Market & social Research, 2011) in maintaining a rapport with the respondents.

    Sampling

    To reduce bias in this study, the sampling technique in the market will be determined by the nature of the objectives. This means that since the population involves consumers, (Churchill, 2000 notes that there are two approaches to a sample. First, involving a population aware of the assessment, and secondly, approaching a population without prior communication.

    The proposed sample will be comprised of:

    • Consumers- to identify attitudes, preferences and opinions
    • Procedure: through random questionnaires and survey, the consumers targeted in retail outlets where the company distributes its products.  The retail owners can also assist in identifying issues related tote products sales decline as well as their perception and observation on consumers’ behavior and attitudes.

    The following table identifies the distribution of 500 questionnaires to the consumers within five retail outlets. To obtain quantifiable data, the questionnaires in all the retail outlets will be administered to both male and female equally.

     

     Analysis and Interpretation

     

    In data analysis, the questionnaires will be inspected and coded according to respondents’ answers to the questions. This is to identify their opinions in terms of involving them to reinvigorate the product and brand.

    Once the data has been collected it will be analyzed using the SPSS. The suitable approach to this part is to include the SPSS a prescriptive form of software (Francis, 2007). Francis (2007) also notes that this process assists most businesses in improving on their approaches especially in respect to marketing. This approach further facilitates identification of the past performance, present product and its brand performance and the future prospects with identification of opportunities too. More so, it also develops close monitoring strategies on the performance of the products once they are reinvigorated. SPSS assists in data summary, enables the research to identify the trends in collected data and compare varying variables in research (Francis, 2007).

    In the research we consider categorical analysis of data in terms of frequencies of answers in the questionnaires; the observation outcomes will be tabulated.

    Implementing cross tabulation tables (Newspoll, 2011) to determine the relationship between two variables as well as how the relationships affect each others. For instance, identify the relationship of consumer variable against the brand, and the promotional aspects interrelationship with the products and the consumers.

     

    Timeline and Reporting

    In our briefs we have stipulated that we will follow a strict timeframe, to meet the deadlines for the project. In the process of conducting the research we will maintain timely and regular communication of the project’s progress to the corporate. This will be accomplished in a weekly basis in form of reports at each last day of each week; Friday. Mores so, the weekly communication will garner more cohesiveness with regards to the project bearing in mind the probability of modifications that you might suggest. The timeframe for the project is four months initiating in July 1st, 2011 till the end of October, 2011.

    After the analysis for the final presentation, the report will be presented to you in a precise manner with incorporation of line graphs showing consumer and brand relationships, statistics and tables indicating variables relationships. Formally, the presentation will be given to you between October 25th 2011 and October 31th, 2011. A complete and final report will be submitted in electronic form and also in print format.

    The following is a breakdown of the project’s activities according to the time frame allocated.

    References

    Australian Market & Social Research. (2011). Marketing Research. Retrieved June 18, 2011         from .

    Burns, A. C. & Bush, R. F. (2000). Marketing Research, 3rd ed. New Jersey: Prentice
    Hall.

    Churchill, G. A. (2001). Basic Marketing Research, 4th ed. Fort Worth: The
    Dryden Press.

    ESOMAR. (2011). European Society for Opinion & Marketing Research. Retrieved June 18,        2011 from, http

    Malhotra, N.K, Shaw, J.M & Oppenheim, P. (2002). Marketing
    Research: An Applied Orientation
    , 2nd ed. New Jersey: Prentice Hall.

    Malhotra, N. K. (2010).Marketing Research, an Applied Orientation,
    6th ed. Upper Saddle River, New Jersey: Pearsons Education.

    Market Research World. (2011). Marketing Research. Retrieved June18, 2011 from,            
    Newspoll. (n.d). Marketing Research. Retrieved June 18, 2011 from,

    Roy Morgan Research. (2011). Retrieved June 18, 2011 from, .

    Sudman, S & Blair, E. (1998). Marketing Research: A Problem-Solving
    Approach
    . Boston: McGraw-Hill.
    Zikmund, W G. (2000). Exploring Marketing Research, 7th ed. Fort Worth: The Dryden
    Press.

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