MARKET RESEARCH D374
Elizabeth Hardin
SEPTEMBER 10, 2024
WESTERN GOVERNORS UNIVERSITY
, Elizabeth Hardin
A1)
Conducting market research would prove beneficial to the client, as it would
identify market segments that are more likely to be interested in the
products and services of The French Press, suggesting a winning marketing
strategy to approach them; it would also provide insight on consumer
preference and, most importantly, would also identify the bottlenecks that
have caused the steady decline in sales of the coffee shop. There are three
main factors that are driving market research in this case, namely the
competitive structure of the market, demographic changes, and the unclear
drop in sales of The French Press.
The first aspect of the case is the fierce competition within the market. There
have been several new drive-through coffee places and national chains set
up in that specific area, attracting different residents, and therefore changing
the demographic structure. In addition, the decrease in sales of The French
Press in the past two years does without a clear explanation about the
reason behind that, which is essential to understand the situation and
determine the appropriate strategy moving forward.
A2)
The sales decline is the problem with which The French Press market
research will be expected to deal. According to the scenario, the owner of
The French Press has noticed that his sales have decreased over the last two
years, leading to a "significant" loss in profit. This decrease in sales is the
problem that he has asked Ms. Martel to further investigate. Once the factors
behind the decline have been identified, it will be easier to make a plan to
improve profitability by increasing performance.
A3)
Elizabeth Hardin
SEPTEMBER 10, 2024
WESTERN GOVERNORS UNIVERSITY
, Elizabeth Hardin
A1)
Conducting market research would prove beneficial to the client, as it would
identify market segments that are more likely to be interested in the
products and services of The French Press, suggesting a winning marketing
strategy to approach them; it would also provide insight on consumer
preference and, most importantly, would also identify the bottlenecks that
have caused the steady decline in sales of the coffee shop. There are three
main factors that are driving market research in this case, namely the
competitive structure of the market, demographic changes, and the unclear
drop in sales of The French Press.
The first aspect of the case is the fierce competition within the market. There
have been several new drive-through coffee places and national chains set
up in that specific area, attracting different residents, and therefore changing
the demographic structure. In addition, the decrease in sales of The French
Press in the past two years does without a clear explanation about the
reason behind that, which is essential to understand the situation and
determine the appropriate strategy moving forward.
A2)
The sales decline is the problem with which The French Press market
research will be expected to deal. According to the scenario, the owner of
The French Press has noticed that his sales have decreased over the last two
years, leading to a "significant" loss in profit. This decrease in sales is the
problem that he has asked Ms. Martel to further investigate. Once the factors
behind the decline have been identified, it will be easier to make a plan to
improve profitability by increasing performance.
A3)
