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- When finished, review the posts from other students. Select at least two posts and create a one paragraph Reply explaining why you agree or disagree. your own opinions
classmate posts are attached- one paragraph for each post.
original post is attached too for review.
thank you
Classmate 1
Corrine Kocjancic posted Feb 1, 2018 2:22 PM
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1. Demographic breakdown of Scadona’s population by sex, age, gross income, education, disposable income, family size, and occupation (Cost = $2,000)
Secondary Source
This was most important to me because it gives you knowledge of the market segmentation in the area and offers insight on your target market within the general market.
2. Report of fifteen-year summary of economic trends in the area, shopping centers, occupations, disposable income, clothing sales, and specialty shops (Cost = $1,800)
Secondary Source
I ranked this second because after having a general idea of the market segmentation, to ensure your target market thrives in the area, I’d want to make sure the area is thriving economically.
3. A list of the gross sales figures of all existing women’s fitness spas in Scadona for the last two years (Cost = $400)
Secondary Source
Highly important information on the competition and saturationa of the market. I would not built if this information was not positive.
4. Mail survey of 300 subscribers to women’s magazines, questioning their fitness awareness, need for complete fitness services, amount of money spent on fitness activities annually, frequency of patronage of fitness spas (Cost = $5,000)
Primary Source
I placed this third most important because this information offers first hand knowledge of your target audience interest in your specific field and your economic prospects within that market.
5. Map of the Scadona area showing major traffic routes, current shopping centers and types of stores, and locations of current fitness spas. (Cost = $1,500)
Secondary Source
After identifying that the economy is successful and your target market is prolific I would begin looking at locations. This information offers great general knowledge and traffic information, which can be a huge deterrent.
6. List of all current useable retail space openings in the area with rental rate per square foot, turnover rate for that spot and shopping center, population within one square mile with income ranges, housing values, occupations, ages and family sizes (Cost = $2,400)
Secondary Source
Once evaluating the general areas I’d want to be in, I’d look at specific rental spaces available and there stats to identify the best location for my business.
7. Telephone survey of 500 randomly selected households in the
area designed to determine consumers’ familiarity with your company name, interest in spas like this, and awareness of other spas and their advertising (Cost = $5,000)
Primary Source
I placed this in the middle because I felt like this information was important, but crossed over with some of the other types of information that offered more value. I did not rank it lower though because I did feel it offered some fresh and important aspects.
8. Focus group report of twelve people concerning attitudes toward prices of fitness services, services expected of a spa, appropriate atmosphere, type of personnel, and seasonal changes (Cost = $2,800)
Primary Source
I’d gather this information later in the process once I had evaluated the economy, market, and locations. This is more flexible and detail oriented.
9. List of all organizations, clubs, and restaurants that cater to the in-crowd and their manager’s names (Cost = $800)
Secondary Source
This is more fluid information that I would concern myself with once I had established my business. Marketing can be shifted and is more of an endgame.
10. Color-coded map of the area showing home and commercial property values (Cost = $1,000)
Secondary Source
I placed this last because I felt it was redundant information that I could mostly gather from my choices for 4 and 5.
Classmate 2
John Blike C’est Si Bon Marketing Research
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John Blike III posted Jan 31, 2018 4:34 PM
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1. A list of the gross sales figures of all existing women’s fitness spas in Scadona for the last two years (Cost = $400)
This is a secondary type of research; this type of list could have been collected by the city of Scadona’s income tax department when the current women’s fitness spas filed their annual returns.
2. Map of the Scadona area showing major traffic routes, current shopping centers and types of stores, and locations of current fitness spas. (Cost = $1,500)
This is a secondary type of research because a simple search of Google Maps could give you this information.
3. Color-coded map of the area showing home and commercial property values (Cost = $1,000)
Another secondary type of research; this information is readily available on many real estate sites.
4. Telephone survey of 500 randomly selected households in the area designed to determine consumers’ familiarity with your company name, interest in spas like this, and awareness of other spas and their advertising (Cost = $5,000)
A phone survey is a type of primary research, gathering information specifically regarding C’est Si Bon, and the interest for women’s fitness spas in the area.
5. Demographic breakdown of Scadona’s population by sex, age, gross income, education, disposable income, family size, and occupation (Cost = $2,000)
This would be considered secondary research, this information is gathered by the US Census Bureau, and some of the information can be found on real estate sites.
6. Mail survey of 300 subscribers to women’s magazines, questioning their fitness awareness, need for complete fitness services, amount of money spent on fitness activities annually, frequency of patronage of fitness spas (Cost = $5,000)
A second example of primary research, it is gathered first hand for the purpose of my research into possible expansion.
7. Report of fifteen-year summary of economic trends in the area, shopping centers, occupations, disposable income, clothing sales, and specialty shops (Cost = $1,800)
This is a secondary source of research; this information would be gathered via industry reports, and other similar outlets such as buying reports and census reports.
8. Focus group report of twelve people concerning attitudes toward prices of fitness services, services expected of a spa, appropriate atmosphere, type of personnel, and seasonal changes (Cost = $2,800)
This is a primary source of research, gathered specifically for my information concerning how people feel about the services my company would bring into the market.
9. List of all organizations, clubs, and restaurants that cater to the in-crowd and their manager’s names (Cost = $800)
More secondary research; these types of list would be gathered by the city’s chamber of commerce, or by other local independent business gathering groups, like Scadona Young Professionals.
10. List of all current useable retail space openings in the area with rental rate per square foot, turnover rate for that spot and shopping center, population within one square mile with income ranges, housing values, occupations, ages and family sizes (Cost = $2,400)
This is a final piece of secondary research available from real estate sites, commercial space rental owners, and local census figures.
Ranking
I ranked based on the primary purpose of gathering this research, deciding if Scadona is the best place for me to expand C’est Si Bon women’s fitness spas.
1. 7. Report of fifteen-year summary of economic trends in the area, shopping centers, occupations, disposable income, clothing sales, and specialty shops (Cost = $1,800)
This research took the top stop for me because it gives me an idea of where Scadona’s market for my services is trending over the last 15 years. If their local economy is moving towards other high end goods and services, this may be a place that I can find success.
2. 5. Demographic breakdown of Scadona’s population by sex, age, gross income, education, disposable income, family size, and occupation (Cost = $2,000)
With a demographic that only focuses on women that have the disposable income to spend, it would behoove me to know what types of people make of Scadona’s population. If Scadona is home to a massive engineering firm of tech company, the average incomes may be high, but the jobs could be held by young people with no families, and specifically in those two industries, the jobs are dominated by men. Scadona could be a manufacturing hub, where there may be families, but most do not have the disposable income to spend at a fitness spa. All of this research will help me to determine what type of people live in Scadona and if my services would be a good fit.
3. 1. A list of the gross sales figures of all existing women’s fitness spas in Scadona for the last two years (Cost = $400)
This research would give me an idea of how my would be competitors are performing in the Scadona market. Combined with this I would visit those company’s website to research their services, prices and staff certifications. Other companies could be struggling because their prices are too high, or they may not be able to ask as much for services if their staff is not properly certified. Their services may be too limited to attract customers, or they may offer so many services that customers are confused. This research can help me determine how my company will fare against competition.
4. 10. List of all current useable retail space openings in the area with rental rate per square foot, turnover rate for that spot and shopping center, population within one square mile with income ranges, housing values, occupations, ages and family sizes (Cost = $2,400)
After determining the demographics and economic factors of Scadona, I would next look to determine if the physical locations would be the right fit. The first step for this is identifying what spaces are available. This research not only gives me that info, but also how desirable those locations could be based on population, incomes, and other data.
5. 6. Mail survey of 300 subscribers to women’s magazines, questioning their fitness awareness, need for complete fitness services, amount of money spent on fitness activities annually, frequency of patronage of fitness spas (Cost = $5,000)
Moving from location to service fit specifics; this research can show me how my target demographic thinks concerning my type of business.
6. 8. Focus group report of twelve people concerning attitudes toward prices of fitness services, services expected of a spa, appropriate atmosphere, type of ¬personnel, and seasonal changes (Cost = $2,800)
This is another resource that will give me an idea on how Scadonians view fitness spas and if my services would be desired by the population. I think this information may be more in depth than the information from the mailing, but the limited number of people in the focus group lowers it in my rankings.
7. 9. List of all organizations, clubs, and restaurants that cater to the in-crowd and their manager’s names (Cost = $800)
This research could give me some insight on whom and where to advertise to. Understanding that my customer is one with disposable income, I can use this research to make partnerships with the right businesses and people to help me reach my target demographic.
8. 4. Telephone survey of 500 randomly selected households in the area designed to determine consumers’ familiarity with your company name, interest in spas like this, and awareness of other spas and their advertising (Cost = $5,000)
The large number of household contacted is the most desirable part of this research, but the random nature and the limited number of quality responses both are drawbacks for this type of research.
9. 2. Map of the Scadona area showing major traffic routes, current shopping centers and types of stores, and locations of current fitness spas. (Cost = $1,500)
This research can show me some additional details on the desirability of possible locations. As well as where competition is located. Location is important, but I feel the most useful data concerning location is from the research in #10.
10. 3. Color-coded map of the area showing home and commercial property values (Cost = $1,000)
Staying with the location theme, this is the final layer of research available to determine where C’est Si Bon would best fit physically in Scadona.
As I stated, my focus was on fulfilling the purpose for this research and determining if Scadona is the right place to expand for C’est Si Bon.
Original post.
MARKETING RESEARCH
This week you are the owner/developer of a chain of fitness spas called C’est Si Bon, targeted at adult women. You are interested in the possibility of opening four new stores in Scadona, a city of 600,000 people that is located 1,000 miles from your current concentration of fourteen stores. You know nothing about Scadona except that it seems to be a good place for expansion. You contact a market research firm in Scadona to get information about the city, about the competition, and so on. The firm gives you the information in Table 1, which includes both primary and secondary research and their prices.
1) Identify what type of research you feel each of the 10 items would be (P = primary; S = secondary). Be able to justify your decisions.
2) Next rank the ten types of information listed in the order you think they should be handled when making decisions about the new market area. Rank them in descending order from 1 to 10, with 1 being most important. In your discussion justify your ranking.
Table 1
1. A list of the gross sales figures of all existing women’s fitness spas in Scadona for the last two years (Cost = $400)
2. Map of the Scadona area showing major traffic routes, current shopping centers and types of stores, and locations
of current fitness spas. (Cost = $1,500)
3. Color-coded map of the area showing home and commercial property values (Cost = $1,000)
4. Telephone survey of 500 randomly selected households in the area designed to determine consumers’ familiarity with your company name, interest in spas like this, and awareness of other spas and their advertising (Cost = $5,000)
5. Demographic breakdown of Scadona’s population by sex, age, gross income, education, disposable income, family size, and occupation (Cost = $2,000)
6. Mail survey of 300 subscribers to women’s magazines, questioning their fitness awareness, need for complete fitness services, amount of money spent on fitness activities annually, frequency of patronage of fitness spas (Cost = $5,000)
7. Report of fifteen-year summary of economic trends in the area, shopping centers, occupations, disposable income, clothing sales, and specialty shops (Cost = $1,800)
8. Focus group report of twelve people concerning attitudes toward prices of fitness services, services expected of a spa, appropriate atmosphere, type of personnel, and seasonal changes (Cost = $2,800)
9. List of all organizations, clubs, and restaurants that cater to the in-crowd and their manager’s names (Cost = $800)
10. List of all current useable retail space openings in the area with rental rate per square foot, turnover rate for that spot and shopping center, population within one square mile with income ranges, housing values, occupations, ages and family sizes (Cost = $2,400)
Rubrics
