Exam (elaborations)
WGU D374 Task 1
- Course
- D374
- Institution
- Western Governors University
Exam of 6 pages for the course D374 at Western Governors University (WGU D374 Task 1)
[Show more]
Seller
Follow
Content preview
MARKET RESEARCH D374Elizabeth Hardin
SEPTEMBER 10, 2024
WESTERN GOVERNORS UNIVERSITY
, Elizabeth Hardin
A1)
Conducting market research would prove beneficial to the client, as it would
identify market segments that are more likely to be interested in the
products and services of The French Press, suggesting a winning marketing
strategy to approach them; it would also provide insight on consumer
preference and, most importantly, would also identify the bottlenecks that
have caused the steady decline in sales of the coffee shop. There are three
main factors that are driving market research in this case, namely the
competitive structure of the market, demographic changes, and the unclear
drop in sales of The French Press.
The first aspect of the case is the fierce competition within the market. There
have been several new drive-through coffee places and national chains set
up in that specific area, attracting different residents, and therefore changing
the demographic structure. In addition, the decrease in sales of The French
Press in the past two years does without a clear explanation about the
reason behind that, which is essential to understand the situation and
determine the appropriate strategy moving forward.
A2)
The sales decline is the problem with which The French Press market
research will be expected to deal. According to the scenario, the owner of
The French Press has noticed that his sales have decreased over the last two
years, leading to a "significant" loss in profit. This decrease in sales is the
problem that he has asked Ms. Martel to further investigate. Once the factors
behind the decline have been identified, it will be easier to make a plan to
improve profitability by increasing performance.
A3)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller elizabethsexton. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72841 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now