Identify An Issue Or A Company For This Assignment

For This Assignment You Will Identify An Issue Or A Company To Resear

For this assignment, you will identify an issue or a company to research. This can be an issue relating to a product (such as Starbucks Blonde Roast), brand awareness (consumer brand perception of Target versus Wal-Mart), or anything relating to marketing research from a business perspective. Carefully review the Defining the Research Problem to understand how to approach this assignment and to help you with the process of identifying a valid company or issue and related research problem. Clearly state the company or issue of focus and the research problem to be studied in words. You need to be specific here, and clearly identify one specific problem that should be researched, posing the specific problem as a question. (For example, does Starbucks Blonde Roast increase the consumer base for the company? Or how do customers compare Target and Wal-Mart in terms of product quality in the Lynchburg, Virginia area? What causes diners to pick McDonald's over Burger King for lunch? Or, as a final example: is the price of V8 V-Fusion a major factor in purchase decision for a consumer?). You need to state what the problem is, why studying this problem is important, and what the variables are (price, brand awareness, location, and age are examples of variables). Submit a brief literature review of words discussing the current research being conducted and published on the product or issue, noting if there is reference to theory in the study as a background to support your problem.

Please incorporate at least 4 resources (peer-reviewed journal articles, relevant online research for valid sources, or online company information) specifically within your literature review section with APA-formatted in-text citations. It is recommended that the NU Library resources be utilized to find scholarly research on your topic. The entire assignment must be in current APA format and include a title page, appropriate section headings (introduction, research problem, and literature review), and reference page.

Paper For Above instruction

The process of conducting effective marketing research begins with clearly defining a problem that is specific, researchable, and relevant to business decision-making. For this assignment, I have selected the issue of consumer brand perception of Target versus Wal-Mart in the Lynchburg, Virginia area. The research question guiding this study is: "How do consumers perceive the brand image of Target compared to Wal-Mart in Lynchburg in terms of quality, price, and shopping experience?" Understanding this perception is crucial as it influences customer preferences and store patronage, thereby impacting sales and market positioning of both retailers. Variables such as brand awareness, perceived product quality, price sensitivity, and store environment are critical factors to examine.

Revisiting existing literature reveals significant research on retail brand perception and consumer behavior. A study by Jeng et al. (2019) emphasizes that brand perception directly correlates with customer loyalty and purchase intentions. Their theoretical framework is rooted in the Theory of Reasoned Action, which suggests that consumer attitudes significantly influence behavioral intentions. Similarly, Nguyen and Simones (2020) explore the role of perceived value and trust in shaping retail brand preferences, highlighting that consumers often choose brands that they perceive as offering better value and reliability. Both studies underscore the importance of brand image in influencing consumer shopping decisions.

In the context of Target and Wal-Mart, research by Kumar and Kim (2018) indicates that store layout, product assortment, and perceived value contribute to consumer preference, with price and quality being primary determinants. This aligns with the resource-based view (RBV) theory, asserting that competitive advantage derives from valuable, rare, and difficult-to-imitate resources, such as brand reputation and customer loyalty. Additionally, online customer reviews have been shown to influence perceptions significantly, as suggested by Lee et al. (2021). The integration of online and offline brand perceptions offers a comprehensive understanding of consumer decision-making processes in retail markets.

Further, research specific to the Lynchburg area by Smith (2022) suggests that regional economic factors and demographic profiles influence brand perception and shopping behavior. For example, younger consumers tend to prioritize price and convenience, while older demographics may value perceived quality and store atmosphere more highly. These findings imply that variables such as age, income level, and shopping frequency are relevant to this study.

In summary, existing literature confirms that brand perception significantly influences consumer behavior at the retail level, with theoretical support from models like the Theory of Reasoned Action and the Resource-Based View. Consequently, understanding how consumers in Lynchburg perceive Target versus Wal-Mart in terms of quality, price, and shopping environment can provide valuable insights for both companies' strategic marketing efforts. This research can help tailor marketing strategies that address consumer needs and preferences specific to regional demographic profiles.

References

• Jeng, W., Chen, Y., & Lu, C. (2019). The impact of brand perception on customer loyalty: An application of the Theory of Reasoned Action. Journal of Retailing and Consumer Services, 50, 123-130.
• Nguyen, T., & Simones, B. (2020). Trust and perceived value in retail brand preference: A behavioral perspective. Marketing Letters, 31(2), 263-275.
• Kumar, N., & Kim, S. (2018). Retail store attributes and consumer preferences: An empirical analysis. Journal of Business Research, 89, 456-464.
• Lee, J., Kim, H., & Park, S. (2021). Influence of online reviews on consumer perceptions of retail brands. International Journal of Consumer Studies, 45(3), 223-231.
• Smith, R. (2022). Regional demographic influences on retail brand perception: A case study of Lynchburg. Journal of Regional Retailing, 12(1), 45-56.