Javajoy, Inc. Questions
Marketing research for the purpose held by JavaJoy, Inc. is important in order to formulate the most feasible marketing plan for the coffee brewers intended for gourmet coffee. The type and kind of data that is to be gathered in order to answer the current marketing question should be defined to be able to list the corresponding list of questions. The marketing question that is to be answered is whether the shift in the coffee market is considered an opportunity for accelerated growth or a problem of retaining. Likewise, it seeks to find out whether it could be both of the two.
With the success of Howard Schultz in building Starbucks, strategic planning when it comes to the marketing prospects of establishing coffee in America has definitely played an essential part. It has been proven that through this coffee entrepreneur’s experience, an empathic understanding of the demand coming from the warm bodies is necessary (Wong, Huang, & Leung, 2007). On a more formal and research-oriented standpoint, it requires the carrying out of primary market research, which is the collection, processing, and analyzing of original marketing data (Wallace & Forte, 2007). The means through which this could be done is
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Among the questions that can be identified for the collection of experiences and perceptions of the consumers and sellers include how much they patronize gourmet coffee, their idea of this type of beverage, the likelihood that they will patronize this, the impact of price on the good, and whether it considered to be just a product or more than that. As for the trends analysis, the indicators that could be identified would have to be the area where gourmet coffee sells the most and why, the season where the demand seems to be highest and where it is at its lowest, and demographic variables that affect the purchase of the product. By collecting this data, it becomes easier to identify the target group and the variables that affect the marketing plan.
Kumar, S.A., Poornima, S.C., Abraham, M.K., & Jayashree, K. (2003).Entrepreneurship Development. New Delhi, India: New Age International Limited, Publishers.
Wallace, C. & Forte, G. (2007). The professional personal chef: The business of doing business as a personal chef. Hoboken, NJ: John Wiley & Sons.
Wong, E., Huang, Y., Leung, L. (2007). The power of Ren: China’s coaching phenomenon. Singapore: John Wiley & Sons.