Market Research Propalsal Essay
Identify the target customer and discuss the market segmentation of the organization. Market segmentation is dividing a market into direct groups of consumers who might separate products requirements or marketing mixes, the process of classifying customers Into groups with different need and requirement. (Kettle et al 201 0, p. 264). In this proposal, the market segmentation will be discussed from three aspects, which are demographic, behaviors and cryptographic.
In this section, four elements of demographic segmentation will be briefly discussed. The age group, life style, gender and income level. In terms of the products is focusing on the quality and the manufacture process when they advertised, which ensure all made from fresh and high quality materials, the organization Is more likely segmented on the customers who will pay more attention on the quality of life and the customers which tends to be family type customers, most likely female customers, and the housewives.
Meanwhile, since the organization has variety of products and they have the higher price than other brands in the market, thus, the GE group could be people over 30 years old and has a medium to high income level. From the behavior point of view, basically it is dividing the
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For the psychological segmentation, it is involved the life style, social class and rationality, which is similar to the demographic strategies as the proposal mentioned above. 2. Discuss why the customers choose this brand. It Is crucial for the organization know why customers choose their products not the other. It could be the Image of the products, the package of the products, or the price and quality of the products that make the customers feel worth of the money, which is the product differentiation.
At a time when product differentiation is a major indicator of success in the global market, each company is looking to offer competitive and highly differentiated products. Alison;shooter et al. 2009. P. 241-253) For the Brenner farm, the difference will be the materials of the products. In terms of the Brenner farm Is a family owned organization, It has their own farm which supply the material for their products, and it is certain that all the home-grown products is fresh and safe.
Meanwhile, according to the Brenner farm (2012) all good independent supermarkets have stock of the Brenner products. It is provides a positive and secure food safety image to the customers. 3. Analysis the competition within in the Industry by using Porter’s five forces win competitive advantage. In this section, the competition within in the industry will be analyzing by using Porter’s five forces model. Threat of competitors This could include the new competitors and the traditional competitors.
Basically this force is relates to the barriers of entry in this industry and the competitive strength of the organization itself. Brenner farm is operates in a competitive market in both Australia and overseas. Therefore, the impact of this force for organization is high. Threat of substitute products Although the Brenner farm has wide range of products, there are still many animal products on the market which has lower price or similar quality. Therefore, the impact of this force is high.
Bargaining power of customers Basically the impact of this force is high for this organization; in terms of customers is the source of income for the Brenner farm. However, the product differentiation is a significant factor that affect on this force. The Brenner farm has ensure the material use for products is fresh and home grown, which provides a healthy and safe image to the customers. This could always attract the customers to purchase the products. Bargaining power of suppliers This force has the least impact of the organization.
In terms of the Brandenburg farm has their own farm and own manufacture line and is a family owned business, which indicates they have fully control of the process. This could be the competitive advantage that will beat other brands on the market. 4. Decide whether qualitative or quantitative data (or both) will be applied in this research and briefly discuss the suggestions. In this proposal, a combination of qualitative and quantitative data should be applied. The qualitative research approach aims to have a greater understanding on a specific problem by focusing on mall sample and non-statistical data analysis.
However, the quantitative research approach focuses on the measurement and analyzing the data in a statistical way. Furthermore, qualitative research is more likely to ask open question which is different from close question that quantitative research ask. In this proposal, the Brenner farm could use both research methods to satisfy the research objects. (Sigmund et al. 2011, p. 69) Firstly, the quantitative research method could be used to identify the customer type and help organization have a brief idea.
Secondly, the qualitative research method could be used to analyses customers buying behavior and their attitude to the products. (East,Wright;Venezuela 2011, p. 28) It could provide a better understanding to the organization on how customers feel about the products and how to improve the products or service. 5. The internal information needed for marketing research. The sales record and the customer feedback report could assist the marketing research. Meanwhile, the information of the marketing research before could be helpful as well.