Business Objective and Research Objectives
Autor: Stella • April 3, 2011 • Essay • 992 Words (4 Pages) • 1,945 Views
We require your Agency to provide us with information that will aid us in meeting our business objective.
Business objective: To increase market share in the energy drink industry with our product line of V. This business objective is also referred to as our Management Decision Problem. Specifically, management wishes to increase sales through the development of new packaging and the introduction of new flavors, to create a further differentiated product. This then translates into our marketing decision problem that defines your research objective.
Research Objective: Evaluate the effectiveness of alternative package designs and determine the need and acceptance of new flavor offerings for V. Ultimately your findings will aid our marketing division in weather to precede in new packaging, and decisions regarding the new design. Your results will also provide valid information for the product development team exploring the need for new flavors and the specifics in customer tastes.
The Marketing division needs to know:
* Does the current packaging appeal to customers?
* Who are these customers? What demographic do they belong to?
* How do people rate our package designs in comparison to that of our immediate competitors?
* What aspects of the design could be improved? What do customers want in the design?
* Would a package re design change customers perception of V in a positive or negative way?
The product development team needs to know:
* Which of the current flavors are most popular among customers?
* What current flavors are being consumed by different demographics?
* What do non-customers dislike about V regarding taste?
* What flavor needs could be satisfied?
* Would added flavors change customer perception in V in a positive or negative way?
Our Target Audience
We want you to target anyone who would need an energy kick from time to time, to those who rely daily on the aid of caffeine. This will include tertiary students, young professionals, laborers, parents; a wide sector of society. Research suggests that high levels of Caffeine can be harmful to young minds therefore we wish to avoid screening primary and intermediate school aged kids as it creates an unwanted image for our company. For more information regarding the dangers of caffeine refer to the Journal of Pediatrics.
Through product placement in supermarkets we have started a customer database using competition incentives to encourage people to sign up to hear about our special deals. We therefore can give you access to this database for customer contacts as a starting point. However as stated previously our company has little insight in to our customer base so we need you to take the initiative in reaching clients we have not yet reached.