JDembrosky MT450 Assignment
Market Research Plan
Jerry R. Dembrosky
Kaplan University
MT450: Marketing Management
March 10, 2015
This market research product hopes to discover more information regarding market trends in the New York area. The following summary will give an overview of the causes, processes, and possible effects of the market research proposal detailed below. The proposed market research plan contains the following objectives: determine the reason for the sales decline in recent years. In the past three years we have seen 5% decline each year in the consumer segment and business segment. With this proposed plan we would expect to see a marked increase in both areas, as well as introduce a new product to our stores within the next Physical year. In the area of marketing, there is only an 11% increase in marketing spending in the next twelve months; in order to remain competitive we need to be able to reach out to a greater number of potential customers. We would like to see an increase in our market segment in order to tap into our most valued resource, our customers. Below is a graph which currently depicts the change in amounts as it pertains to marketing changes and at what percentages so as to allow you a better chance to see where we can increase, as well as decrease in order to better reach our intended customers.
In order to better reach potential customers we will review several options in the area of marketing to determine what will work best for us. With the having our locations here in New York City, I feel more needs to be focused on sales training, which is currently at only 15%, likewise, radio advertisement which is currently at only 5% should be raised as this is perhaps one of the biggest means of getting the word out, apart from social media which could also see an increase. To help gather the necessary information we will be conducting both primary data collection along with secondary data collection. To fulfill our need for data we
Jerry R. Dembrosky
Kaplan University
MT450: Marketing Management
March 10, 2015
This market research product hopes to discover more information regarding market trends in the New York area. The following summary will give an overview of the causes, processes, and possible effects of the market research proposal detailed below. The proposed market research plan contains the following objectives: determine the reason for the sales decline in recent years. In the past three years we have seen 5% decline each year in the consumer segment and business segment. With this proposed plan we would expect to see a marked increase in both areas, as well as introduce a new product to our stores within the next Physical year. In the area of marketing, there is only an 11% increase in marketing spending in the next twelve months; in order to remain competitive we need to be able to reach out to a greater number of potential customers. We would like to see an increase in our market segment in order to tap into our most valued resource, our customers. Below is a graph which currently depicts the change in amounts as it pertains to marketing changes and at what percentages so as to allow you a better chance to see where we can increase, as well as decrease in order to better reach our intended customers.
In order to better reach potential customers we will review several options in the area of marketing to determine what will work best for us. With the having our locations here in New York City, I feel more needs to be focused on sales training, which is currently at only 15%, likewise, radio advertisement which is currently at only 5% should be raised as this is perhaps one of the biggest means of getting the word out, apart from social media which could also see an increase. To help gather the necessary information we will be conducting both primary data collection along with secondary data collection. To fulfill our need for data we