Constructing a Marketing Plan
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Please review the following questions and see if you can guide me through them. This is regarding a start-up company with the newest invention of its product "Sallone's Universal Dog Food Dispenser".
1. Describe what type of marketing research this company will need to use in order to support its marketing strategy. Create a list of questions or issues that your company will need to settle using marketing research.
2. Describe how this company will examine customer satisfaction, and what will you do to create customer loyalty?
3. To what segments will your company market to, and what variables should be used in these segmentations?
4. Discuss the way your company will address your customers' buying decision process.
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Solution Summary
An in depth example of how to create a marketing plan using the pet store industry as the example. This solution focuses on key concepts such as examining key market indicators, research, customer loyalty, brand message, and other concepts.
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1. Types of Marketing Research Salone's will use to support its strategy:
- Salone's will use the primary/direct research method in its marketing research to collect and analyze all of the current and relative data from our business model and our competitors business models, along with consumer data relevant to our products. We will compare our data against the data collected from our competition's business models and marketing strategies to search for competitive advantages or weaknesses and this will help us focus the direction of our final marketing strategy (Douglas & Craig, 2011).
- Using direct research as compared to secondary research methods will mean that Salone's will collect our own data for our decision making analysis. We will try to avoid spending money on secondary sources to do the work of data collection for us as we have qualified industry specialists that should be capable of researching and collecting all the applicable data we will need for our marketing strategy. We will use quantitative and qualitative research methods to gather a broad range of data points to reference in establishing our final marketing strategy (Douglas & Craig, 2011).
- In the quantitative research phase we will focus on big picture aspects of data collection. This will include collecting large sample sizes of data to analyze from available sources. In the quantitative phase, we will gather information such as consumer trends, buying patterns, sales figures, competitor growth rates, and analyze these figures over several months or years to gather a valid picture of the overall market landscape (Douglas & Craig, 2011).
- We will use qualitative research which will give us a hands on feel for consumer demands. In the qualitative phase of data collection we will conduct focus groups with small numbers of customers and ask questions targeted at helping us gauge their preferences. We will also use tools such as one-on-one interviews, surveys, customer questionnaires, and other direct methods to help ensure we obtain a broad range of consumer data to help us develop an understanding of the entire population of consumers desires. (Douglas & Craig, 2011).
Questions/Issues to settle in our research:
In our marketing research our goal will ...
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