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utpo.instructure.com Due Sunday by 11:59pm Points 50Submitting a file upload Available until Nov 19 at 11:59pm In Week 4's assignment, you have designed a marketing campaign for a product/product line/service. At the same time, you have also identified the target market for your campaign. Now, in this assignment, you are expected to employ at least one analytic tools to examine an issue that related to the consumers/customers of this product/product line/service. Please follow the instructions below: 1. Identify a customer-related issue, something that related customer relationship, like complaint is recommended. 2.Review relevant sections of experimental design in the textbooks 3. Propose a study of experimental design or survey questionnaire design that could use to solve the issue identified above. Suggested outline: a. Review the target market of the small business. b. describe a current or potential customer-relationship issue that involves at least one dependent variable and two independent variables . construct two research questions that could guide your study c. Propose a working definition for the dependent variable by reviewing at least two acodemic journals and two online sources. (use scholar google.com to search for academic journals and google for other online sources . in this section. you are expecting to summarize what previous studies have done and have discovered. Then propose something unique for your own research questions justify the choice of dependent variable by explaining why it needs to be studied. ·Explanation / Answer
i wish to explain this concept with related to the busiiness of organic food business, where majority of the people prefers to have it in the place of junk food or fast food.
1. in this, most of the customers are experiencing one typical problem, i.e. cost of the food is higher when compares to other food supplements. majority of the customers feel the same and not prefers to revisit the store. the aspects like taste of the food, quality, serve, abmience of the place, etc, all are good except the cost of the food.
a. when it comes to Microbrewery- which produces small units of beer to customers. it is there in Europe countries from 1970s onwards. if they want to establish their unit and produce small quantity of beers, first we should know the acceptability of customers to the product. till the time, a beer bottle is the medium and large in size quantity. now we are going to be lauch small in quantity, we dont know how the customers react to the product. and the other problem is huge existed problem in the market in beverages. there are many world class players in the same market, and facing all those and sustained in the market may be difficult, but not impossible.
to overcome this problems, first we need to study the buying patterns of customers with test marketing. once we find the reaction of the customers for the product, we can proceed if any changes are required. till it succeed we should continues test marketing and proceed. when it comes to competition, when we offer a world class product, then customers automatically shift to our product. best example Apple in smartphone segment, Patanjali FMCG in India. customers always encourages best products even if the costs are some what higher. so, if we follow right promotional stragies it may not be a big task to capture the market.
b. the target customers to our product is, all the people who consumes beer. it is an existing product in the market, so no worry about customers. only task is, identify the gap in the market and shape the product based on the gaps. for example: soft drink firms initially only produces 300ML bottles, and some tins. but later they reframe their strategy, started producing in different sizes like 200 ML, 500ML, 1 LITRE, 1.5 and 2.25 Litres. they find the gap and changed their strategy. in the same way, we need to find the gaps from existing suppliers of beer, and prepare strategies based on those to capture the market.
2. it is because of newly establishement business and less number of customers to the service. when a businiess established newly, the set up cost and more additonal costs will be there. initially the services will be charged somewhat highly than normal time. if the demand is full, the costs will be decline dratically. but here the newly establishment business, where the customers are little, costs are high, then automatically the charge for serve is high only.
3. to overcome this problem, we have prepared a questionnaire, which reveals the problems and other issues of the customers in all dimensions to the business. here the people will be provide the questionnaire in open market, and collect information about their services, what the customers expetcing from the business firm and finally use it for draw a valid conclusion.
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