Reverse Engineering Project Part 2

Marketing Research Methods

Surveys and focus groups are viable research methods used to assess product viability in the market. The seller can develop and provide straightforward questionnaires to a sample in the target market to assess how it fits their needs and desires. It is important to note that the selection of a larger generates reliability of the outcome obtained. The other vital research method is the focus group discussions where the seller can assemble a group of potential consumers in the selected target market and provide a series of questions related to the product. These methods allow the seller to investigate the needs and concerns raised by the potential users to determine if the dairy-free “so delicious cream sandwich” meets their interests.

Market Data

Primary and secondary data exposes the seller to the potential number of consumers they are targeting. One of the essential data sources is the U.S. Census. The young people act as the primary target market for the product. Thus, the population of young persons in the U.S. provides the seller with an idea of the number of consumers they aim to capture. According to the U.S. Census data, there were 41,910,114 young people aged between 10 and 19 (U.S. Teen Demographics, 2020). The data informs the seller of the potential that exists in the market. Notably, data acquired from social media platforms such as Facebook and Twitter can enable the seller to understand the existing market potential.

Market Segments

Young people are the primary market segments for the daily free “so delicious cream sandwich.” These act as populations that are primarily expected to consume the product. The secondary market entails young adults who are likely willing to experiment with the product. These two market segments attract significant potential for the business establishment. Lastly, the tertiary market entails the older population in society. Some of them might be interested in the product but have no urgency of purchasing it.

Business-to-businesses applications

The business can produce the product and then sell it to a retailer who then offers the items to the consumers. This is one of the business to business approaches relevant to the sale of the sandwich products. The primary objective is to ensure that the product is brought to the convenience of the customers. By selling the products to retailers, consumers can purchase it close to retail segments located in various local and global sections.

Customer Relationship Management

The customer relationship management element helps in connecting the firm with its potential clients. According to Pohludka and Stverkova (2019), customer relationship management accelerates customer satisfaction. The integration of a suitable program helps to develop interactions between the company and the consumers. The business can adopt the Microsoft Dynamic 365 program to improve customer satisfaction. It creates a personalized relationship and due to the effective sales and marketing strategies adopted by an establishment. Also, it ensures that clients receive after-sales services. Therefore, its capacity to accelerate consumer satisfaction cannot be underestimated.

Internet-based application of the product

Product marketing incorporates attractive images and statements that capture the attention of potential users. The firm will rely on Internet marketing aided by the corporate site and social media platforms such as Facebook and Twitter. Across its web site and various social media channels, the business will utilize aesthetic features that can tap and retain the consumers’ attention. For example, the packaging is one aspect that attracts more clients to purchase and consume the product.

References

Pohludka, M., & Štverková, H. (2019). The best practice of CRM implementation for small and medium-sized enterprises. Administrative Sciences, 9(1), 22.

U.S. Teen Demographics. (2020). Retrieved 2 July 2020, from http://actforyouth.net/adolescence/demographics/