Two discussion responses 125 word each. One: The idea of a coffee shop that not only allows its customers to bring their dogs but also plans on selling drinks and snacks in my opinion is a great idea. In this day and age there are more people who like t
Two discussion responses 125 word each.
One: The idea of a coffee shop that not only allows its customers to bring their dogs but also plans on selling drinks and snacks in my opinion is a great idea. In this day and age there are more people who like to take their dogs everywhere they go. They are a part of their family. Therefore, I would encourage my friend to embark on this new business adventure. I would recommend that my friend review the three major functions of marketing research before anything is put in motion. The three major functions of marketing research include:
Scanning for opportunities and threats. A good research operation collects and analyzes information about customers, competitors, technology, global economic conditions, and other factors. It provides input to marketing managers that they can use to find new markets for existing products, uncover new market segments (see the marketing strategy diagram in Figure 2.1), and anticipate competitors moves. These data are used in the situation analysis of the marketing plan and the development of a marketing strategy.
Risk assessment of future programs. When considering alternative marketing strategies, the marketing manager should test them against different scenarios. For example, if the manager is considering entering an international expansion into India, the variations in government attitudes toward business over time would increase the importance of creating different strategies contingent upon which party is in power.
Monitoring of current programs. Marketing research plays a key role in monitoring the progress of the plan toward its objectives. For example, to raise awareness of your brand from 60 to 70 percent in the target market, you need to develop a plan to measure customer awareness (Wine & Dhar, 2011).
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