Marketing Research Strategy
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My group has started a new international microcomputer company (it's a game); so far, we have not taken the appropriate strategies. For example in marketing, our two brands have received, from our customer segments, poor rating in advertising. Even though we spent a lot of money, the customers prefer our competitor's brands.
Please help me to answer and understand the questions below so I can prepare the strategy for the next quarter.
-How do in-store decisions affect market demand?
-How do advertising and brand design affect market demand?
Note: we aren't selling to the home market or through retail stores. We focus on direct sales to business customers.
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Solution Summary
This solution helps the student through a simulation game where computers are being sold.
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In marketing, you have two brands that have both received poor ratings in advertising despite spending sufficient money on the advertising campaigns. The competitors' brands remain dominant in the market. You don't sell the microcomputers through retail stores, you're selling directly to business customers.
-How do in-store decisions affect market demand?
This is a really interesting question given the situation. I have briefly read the game scenario you're working on a while back. There have been several other students that have been involved in the same game. The issue with in-store decisions and your game is that you're not marketing directly to retail customers or through retail stores, and in-store marketing is a direct tactic to increase demand to the common customers, outside of the demand from business customers. We have the opposite in this scenario. You're being asked to evaluate your in-store decisions and how those decisions affect market demand, yet you're not selling your computers through retail outlets. You're engaged in direct sales to business customers.
When we look at in-store decisions, we normally look at how the advertising strategies lure in the customer. We see examples of this when we go to a retail store. When I go to the supermarket, there are people in the middle of aisles that have samples prepared, and their goal is to entice me with a tasty sample to buy the brand they're marketing. The discounts, displays, in-store coupons, and ...
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