Marketing
Research
1.
Current Macro Forces Affecting Anthony’s
Orchard’s Profitability
Anthony’s
Orchard is a third generation venture promoted by approximately six thousand
acres of orchard farm. Its location is in Wenatchee Valley, Washington and has operated
for more than half a decade. The firm focuses on two main business strategies
as enshrined in its vision and mission. First, Anthony’s Orchard aims at
providing the best apple services and products to the customers. Secondly, the business
intends to generate value for its stakeholders. Notwithstanding, the marketing
mix program and marketing strategy do not support the current business
strategy, hence making it difficult to attain the vision’s goals. Therefore,
the macro forces such as the economic and socio-political
external environment negatively affect the firm’s profitability given their
impact on Anthony’s Orchard’s goals.
2. Types of Research Instruments and
Data
For
most organizations, the strategists
conduct business research with secondary and primary data types. Besides, the
firm can explore numerous options of research design plans like casual
research, descriptive research, and exploratory research. The researcher
selects only one research design based on the research objectives and the types
of information that the corporation requires. In this study, Anthony’s Orchard
wants to identify the customers’ demands, wants,
and needs to serve them effectively. Essentially, the knowledge pyramid which
signifies data insight and intelligence applies data analysis technique to
collect and evaluate suitable raw data to identify the actual consumer needs in
the context of apple purchase. It is possible to forecast the apple’s demands
as per the knowledge of pyramid data. However, in the international business
context, the research ought to focus on four knowledge layers as follows:
i.
Information related to the international business transaction,
specifically with regards to the handling of global commercial and financial
risks.
ii.
Adequate knowledge of the business
prospects in a particular county targeted for international business. In this
way, the researcher highlights the market risks.
iii.
The knowledge on differences in business
cultures.
iv.
Exhaustive information on the home
country.
3. Recommendations on Relevant Data for
Market Research
Based
on the Anthony’s Orchard’s need to understand the customer demands, needs, and
wants to provide better service, it is recommendable that the firm should focus
on primary research. For instance, the strategists should gather first-hand
information on both the potential and existing customers of the organization.
Furthermore, I recommend that the researcher should pay a keen attention on
interviewing retailers and wholesalers that have direct contact with Anthony’s
Orchard’s loyal customer base. In light of this, I further suggest that the
organization should conduct a qualitative research with wholesalers (or
retailers) and a quantitative research on a selected customer segment to
understand the consumer behavior. Quantitative
research determines the phenomenal extent in the form of numbers. It is an appropriate technique especially if the
researcher wants to understand the people’s performance, beliefs, or feelings.
On the other hand, the researcher should access the information available
online on the company’s website. The move
will provide unlimited theoretical knowledge for secondary research since the company
updates its website regularly.
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