Hi, i need to write essay about Market Research. However, for the analysis i need to consider the information about Antony’s Orchard Company ( i am not able to attach the document here as it is in html, but i’ve sent it to your representative via the live chat window) and ensure that the following questions are addressed;
Imagine you are a marketing professional hired by Anthony’s Orchard. What would be the most appropriate market research process you would recommend to the owners? How might this process provide not only the most demand for Anthony’s Orchard’s products but also proper demand forecasting? How might your recommendations impact the marketing communications on the company’s website?
In formulating the analysis please consider the following questions:
1) What is the current marketing strategy of Anthony’s Orchard? What macro forces can affect the profits of Anthony’s Orchard?
2) What types of data and research instruments would you suggest to measure customer needs, wants and demands? How will the data and instruments allow the orchard to properly forecast demand for its products?
3) In presenting your recommendations, how might you explain the importance of obtaining relevant data through the market research process to the owners of Anthony’s Orchard?
Please no plagiarism.
Thank you very much.
Marketing Research – A Case Study of Anthony’s Orchard, USA
Table of Contents
1. Current Market Strategy and Macro forces affecting the profit of Anthony’s Orchard. 3
2. Types of data and research instruments suggested for measuring customer wants and demands. 3
3. Recommendation on obtaining relevant data for market research. 4
1. Current Market Strategy and Macro forces affecting the profit of Anthony’s Orchard
Anthony’s Orchard is a3rd generation business promoted by family with 6000 acre of orchard located in the Wenatchee valley Washington with 60 year of experience in the business. The current strategy of the company focus on two core values based on the vision statement of the company, the first one promote the vision of providing the best apple products and services to the customers and the second one focus on creating value for the shareholders of the company(Wilson, 2011). The problem with the current strategy is that though the strategy has well decided goal but it is not supported by the marketing strategy and marketing mix program to achieve the set goal of the vision. As such the macro forces related with external environment like political environment, economic environment, social environment, technological environment, legal environment and ecological environment can impact the goal set by Anthony’s orchard and affect the profit margin of the company negatively.
2. Types of data and research instruments suggested for measuring customer wants and demands.
The business research for a company can be done with two types of data namely primary data and secondary data. The company can explore one of the three research design plan namely descriptive research, exploratory research and casual research(Malhotra, 2008). Based on the types of information requirement and the aims and objective of the research conducted one of the three research design are selected. In the present research Anthony’s orchard intends to identify the customer needs, wants and demand to serve them more effectively. The knowledge pyramid that signify the data, information and intelligence and knowledge and insight can collect the suitable raw data and evaluate them with data analysis to identify the actual needs, wants and demands of the customer in context to the purchase of Apple(Cooper & Schindler, 2006). Based on the knowledge pyramid data related with customer’s can be collected and analyzed to forecast the demand of Apple. In context to international business the market research needs to focus on the four layers of knowledge in international business to forecast demands for its products.
- Knowledge related with International transaction to handle the financial and commercial risk related with international business.
- Proper knowledge of the country identified for International business to identify country risk.
- Knowledge of cultural differences.
- Extensive knowledge of the home country
3. Recommendation on obtaining relevant data for market research
Based on the requirement of Anthony’s Orchard of understanding the customer needs, wants and demand to serve them better, it is recommended that company focus on primary research of customers, both existing customer of the company and potential customers of the company. It is recommended the company should also focus on the wholesalers and retailer who have direct contact with customers(Malhotra& Peterson, 2006). It is suggested that the company conduct a quantitative research with customers and qualitative research with wholesalers and retailers to understand the buying behaviour of the customer. To get the theoretical knowledge the secondary research can be done with review of literature available online related with orchard buying.
Cooper, D. R., & Schindler, P. S. (2006). Marketing research. New York: McGraw-Hill/Irwin.
Malhotra, N. K. (2008). Marketing research: An applied orientation, 5/e. Pearson Education India.
Malhotra, N., & Peterson, M. (2006).Basic Marketing Research; a decision-making approach.New Jersey, 7458.
Wilson, A. (2011). Marketing research: an integrated approach 3rd edition (No. 3rd). FT Prentice Hall.