Conduct A Google Search And Find A Company That Fails

CLEANED Conduct a Google search and find a company that failed to do marketing research

CLEANED: Conduct a Google search, and find a company that failed to do marketing research

PART I Conduct a Google search, and find a company that failed to do marketing research. Explain what the company did wrong, and make certain to define the problem. What would you have done better? 200 words paragraph

PART II Instructions Developing a Survey Using the questions below, create a survey, and provide the survey answers like 5 people answered the survey. · What smartphone brand does your family/friends use? · Overall, how satisfied are your family/friends with their smartphones? · How do your family/friends rate different aspects of their experiences with their smartphones? · How do your family/friends perceive Apple’s iPhone? · How do your family/friends perceive the top iPhone competitors? Compile the results of your survey, and discuss what it could mean for smartphone manufacturers. Please present a summary of your results and what it could mean for smartphone manufacturers. Your summary must be at least two pages in length and be double-spaced. Adhere to APA Style when creating citations and references for this assignment.

Paper For Above instruction

The importance of effective marketing research cannot be overstated for companies aiming to understand consumer preferences and anticipate market trends. A notable example of failure in marketing research is the case of JC Penney in 2011. The retailer made significant changes to its pricing strategy without adequately researching customer behavior and preferences. Specifically, JC Penney eliminated sales and coupons, adopting an "everyday low prices" strategy. However, they overlooked the deeply ingrained consumer expectation for promotional deals, which led to confusion and dissatisfaction among their core customer base. This premature shift was a result of insufficient market research into customer attitudes toward pricing and promotional strategies, leading to a decline in sales and brand trust. The problem stemmed from a disconnect between the company's assumptions about consumer behavior and the actual preferences of their target market. A better approach would have involved conducting detailed surveys, focus groups, and consumer behavior analysis prior to implementing such sweeping changes. Conducting thorough research could have revealed that promotional discounts and coupons significantly influenced customer loyalty and shopping frequency. By incorporating comprehensive market research, JC Penney might have developed a transition plan that aligned with consumer expectations, thereby avoiding the steep sales decline that ensued. This case underscores the critical need for companies to base strategic decisions on solid marketing research rather than assumptions or inadequate data. Proper research not only helps in understanding customer needs but also ensures that marketing strategies resonate with target audiences, ultimately securing long-term success.

Turning to the second part, conducting a survey among consumers about their smartphone preferences provides insights into industry trends and consumer perception. For example, a survey was conducted with five respondents to assess their smartphone usage and perceptions. The data collected revealed varied preferences, satisfaction levels, and perceptions of major brands like Apple and its competitors. The survey results show that three respondents use Apple’s iPhone, while two prefer Android devices from brands like Samsung and Google. When asked about overall satisfaction, three respondents expressed high satisfaction, citing the user-friendly interface and ecosystem integration as key benefits. Conversely, two respondents reported moderate satisfaction, indicating room for improvement. Regarding specific aspects, respondents rated battery life, camera quality, and device durability as critical factors influencing their satisfaction. Additionally, perceptions of the iPhone among respondents were generally positive, emphasizing brand prestige and ecosystem connectivity. Nonetheless, some respondents considered the top iPhone competitors, such as Samsung Galaxy and Google Pixel, as viable alternatives, citing comparable features and pricing advantages. These insights suggest that while Apple maintains a strong brand presence, competitors are gaining ground by emphasizing innovation and value. For manufacturers, understanding these consumer perceptions helps refine product offerings and marketing strategies, emphasizing features that resonate most with users. Overall, the survey results highlight the dynamic nature of the smartphone market, where brand perception, product features, and pricing influence consumer choices significantly.

In conclusion, effective marketing research is essential for companies to stay competitive and meet consumer expectations. The JC Penney failure exemplifies the risks of neglecting thorough consumer analysis, which can lead to strategic missteps and financial losses. Meanwhile, survey insights into smartphone preferences demonstrate how consumer perceptions influence brand loyalty and purchasing decisions. For smartphone manufacturers, leveraging detailed research can guide product development and marketing efforts, ultimately fostering stronger consumer engagement. As the technology landscape evolves, continuous market research remains a crucial tool for adapting strategies to meet shifting consumer needs and maintaining competitive advantage.

References

  • Burke, R. (2012). Marketing research: Tools and techniques. Sage Publications.
  • Homburg, C., Kuester, S., & Krohmer, H. (2013). (Eds.). Marketing Management: A Contemporary Perspective. Springer.
  • Johnson, G., Scholes, K., & Whittington, R. (2011). Exploring Corporate Strategy. Pearson Education.
  • Johnson, D. (2013). The rise and fall of JC Penney: A case study in strategic missteps. Journal of Business Cases and Applications, 10(2), 15-24.
  • Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson Education.
  • Marshall, G. W., & McDonald, M. A. (2013). Marketing research. Cengage Learning.
  • Smith, P. R., & Zook, Z. (2016). Marketing Communications: Integrating Offline and Online with Social Media. Kogan Page.
  • Statista. (2023). Smartphone market share and consumer perceptions. https://www.statista.com
  • Yoo, B., Donthu, N., & Lee, S. (2000). An examination of selected marketing mix elements and brand equity. Journal of the Academy of Marketing Science, 28(2), 195-211.
  • Yahoo Finance. (2023). Roblox Corporation stock overview and financial data. https://finance.yahoo.com

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