Marketing Research Worksheet
- Marketing Segmentation (Who is going to buy your product, where do they live, how much money do they make, what do they do for a living, how old are they, what is their lifestyle, do they live in the city or in the country?):
- What are your marketing goals and how are you going to accomplish them in the time that you have? (For example, in the short amount of time you are not going to be able to get leases, build outlets, and train management and staff. What is your plan to get around these time limitations and still get your product out to sell).
- How will you best market your product to your market segment (promotions, advertising, etc)? How can you best reach them?
- What does the outside marketing research say about your kind of product (for example, the lady at See’s Candies mentioned that liquor-filled chocolates have some serious drawbacks in quality, shipping, and shelf life)?
- Who are you biggest competitors? What is their market share? Do they have other products? What are their primary products? How have they used synergies to get their product out?
- What are you going to do differently and better than your competition?
- There are Regional Considerations. What are those concerns and how are you going to overcome them? (hint: google the alcohol laws for each of the states).
8. How are you going to disturb the product?
9. What are you going to price your product at, and how will that affect they perceived quality of your product?
10. What kind of outlets should your product be sold at (for example, we saw the differences between Smith’s and See’s) and why?