A chain of sporting goods store is evaluating the feasibility of a plan for replacing its own credit card and use third party cards (Visa, Master, Amex, etc) instead. The reason they make this move is that they can save at least $450,000 annually by dropping its own credit card. The management decision problem is should it drop its credit cards and switch to third party cards and is there any possible to streamline the credit card operations for cutting cost purposes. In order to solve the management problem, this sporting goods store hire a marketing research firm to see whether they can maintain the same level of profits or even increase the overall profits by replacing its own credit card. The marketing research problem is that what is the customer behavior of using the …show more content…
Delete the number after the “Yes” and “No” option in the first question.
5. Reword some questions to make it concise and clear.
6. For question 6, we should use a 7-scale method to measure they importance of each factor in their purchases.
7. Question 7 is redundant with previous questions, we could calculate the total amount of money customers spent by adding the money they spent on each category.
8. Combine some questions into one question by adding filtering questions.
9. Delete question 11 since whether we drop our own credit card, the same policy applies to everywhere in the US.
10. since we are conducting this survey to our store’s own credit card holders, there is no need to ask them how much they spend at Smith’s store over the last twelve months. The first reason is that they may not give you the correct number since it is not easy to remember each transaction at a store over the last year. The second reason is that we could easily retrieve those information from our database since they are all our credit card holders and that information must be correct. The third reason is that it is time consuming to ask them to recall each transaction for each category of goods they
In the data collection and manipulation of Sport T’s database, there are nine questions regarding the data that would be useful in improving company standards. What percentage of buyers purchase multiple items in one checkout? How much is the average full purchase from a customer? How many customers only purchase discounted items as opposed to full retail priced items? What is our Year-to-Date profits over expenses? What is our customer satisfaction ratio to unsatisfied customers? What is our average click-to-hit ratio on our online and social media advertisements? What is our average time from purchase to processing an order? What is our average time from processing an order to shipment? What is our average
5. Conduct an analysis of the company’s sales efforts, especially regarding the cultivation of customer relationships.
6 framework I and many others regularly use in analysis of marketing situations. We supplemented
suspended until the balance is paid off. With credit cards however, every year more and more people get into debt.
5) What might each of the 2 sources tell you about consumer behavior in your area.
Most retailers know that the appearance of their stores plays a big part in determining consumer behavior. As such, they seek to use it to their advantage. Sport Chek sells various types of sports merchandise mainly to middle and upper class citizens of Canada. The company has many stores and online portals. The design of the stores communicates to customers that goods in the store are of high quality. Therefore, customers come with the expectation to pay a premium. The main elements that the store uses to influence consumer behavior include the choice of construction materials, careful choice of colors and shapes, and creative use of lighting. These elements have an impact on the affective, cognitive, and behavioral responses of potential customers. The channel strategy used by the company is effective because of Sport Chek’s strong brand name. The company can benefit more from a better channel strategy for its online shopping portal that can help it to take advantage of the global high-end sports market.
Discuss an assessment or evaluation strategy which may be used to help determine the marketing potential of an organization.
d) Enlarging new customers. Research on the consumer purchase behavior is an essential need. The analysis data will provide more information on who, how, and why to buy, and also understanding the competitors marketing strategic plan. Secondly, by analyzing the majority of subscribers age group, gender, preference items. Sending regular email on current promotion items and offer them with the 1st trial discount voucher to convert the subscribers into customers.
Psychological Factors: In this factor there are four divided elements that would be affecting the consumer behaviors are:
On Friday January 17, I went to Walmart to use the ATM machine as I am incline to do every Friday after my morning math class. I went there with three goals to accomplish and that is to get money off of my card as soon as possible shop for snacks, toiletries and to catch the 1:30pm bus home, however as it turns out as I approach the machine there was an out of order sign posted on the ATM machine and I came to the realization that I would not be able to catch the bus in time. It was then that I remember the observational essay from English class and as I looked around the store Walmart prove a valuable place to conduct my experiment. From an observational point it seems to me that everyone who came into Walmart on Friday had a specific goal in mind that they wanted to accomplish, when it relates to shopping that had never occur to me before. For one thing the customers when they come into the store they tend to branch out into specific areas.
Managers associated with shopping areas like the Springdale shopping area gain useful insight through point estimates regarding a number of variables describing the characteristics and behaviors of their customer base. Being able to have confidence in survey results In addition, it is helpful for them to have some idea as to the likely accuracy of these estimates. The results of surveys may be used to enhance store layout, development of employee skills, and influence purchasing habits.
I plan on using the questionnaire I have designed. (See addendum 1) The questionnaire will be given to pupils of Kingfisher school. The questionnaire will cover what advertisements the learners of Kingfisher will prefer to see. Once this data has been collected. I can choose at least three of the favoured advertisements to promote one of the many school functions. There are many ways to advertise to the school; however I have chosen only use five:
The addition of a computerized register would make the flow of goods in and out of the Style Shop easier. By adding a computer to the store each Merchandising Society member would h...
Brand positioning refers to “target consumer’s” reason to buy your brand in preference to others. It involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. A significant differential advantage can lead customers to focus on product benefits other than price. Brand Positioning is the key of marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and it’s similarity with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service apart from your competitors.
To effectively sell a product or service, organizations have to really know how customers behave, regarding to what they buy. The study