Research Paper on Marketing strategy Assignment

Introduction

This article research paper marketing strategy assignment is researches about the measures taken to ensure customer loyalty in a cosmetics brand and how to identify the points that would help them in the development of their products to identify changing consumer preferences. The article aims to determine the users’ experiences with the products they use by direct buying and creates a questionnaire that evaluates and weighs the good and bad factors of their strategies in creating products that would ensure maximum customer loyalty. The work focuses on the factors that affect customer loyalty which includes primarily, the divisions of trust in the brand, the trust of the consumer in the salespersons employed, and the changing habits and preferences of the customers. These factors are taken into account for the creation of a framework that would ensure consumer loyalty in the future as well.

Theoretical basis of the research paper

The field of direct selling involves the presence of a well-defined strategy that ensures customer loyalty. Since the Department of direct selling has not been researched enough, the article draws the lines for the need of a framework for consumer satisfaction as well. The article also creates an outline of the methods for the creation of a questionnaire that would analyze the factors that have satisfied the users and also the ones that haven not. Direct selling is a process that involves the relation between the company and the customers (BOBÂLCĂ, 2014). The article analyzes the Romanian market where the particular technique is a primary process. The article states that the managers must understand the needs and expectations of their customers which would involve a greater connection with the client base. The article uses a quantitative research for conducting the survey. Since a huge chunk of the customer base in this field involves women, the female population is targeted for this market research. The article also identifies the instruments that are to be utilized while forming the questionnaire. The survey is divided into four sections to facilitate the smooth and insightful research. There is a selection of the candidates among the consumers who are to volunteer for this kind of survey. Finally, the overall relevance of the research model is evaluated. Doing so would provide the business with the insight whether the research method should be followed in the future surveys, or be changed for the facilitation of an even more comprehensive research.

Research on marketing Strategy

Research plan and its nature

The method of the research employed in this study is a quantitative one. The subject matter for this kind of the investigation is complex in its nature. Under such conditions, there is a need for conducting comprehensive surveys. The study must consider the expectations and satisfaction measure for each consumer. The survey thus undertakes a quantitative survey that measures all the factors that would affect consumer loyalty.  The customers taken into account were ones who have used the products for at least a year. There was also a condition of having bought the product at least once in the last three months. Choosing such test subjects would ensure that they have sufficient experience of the product and are well aware of the evolutions that the products have undergone. They would thus be able to pinpoint the factors that they like about the product or the places where the goods need to improve. The volunteers were then provided with questionnaires that would clearly identify their preferences and help to assess the factors that would have an effect on the customers’ loyalty towards the brand (Brown, 2010). The questionnaire was divided into four parts. The first one contained the details of the customer and their habits in the matters of cosmetic products. The second part aimed at identifying the factors that made the customer choose a particular brand over the others. The identifying factors included analyzing the customers’ relations with the salespeople and strengths and flaws of the brand. The third part analyzed the factors that helped build the trust in the brand among the consumers. The last part discovered the buying habits of the consumers. The research conducted was thus an exploratory research. The exploratory analysis is a system in which there is a guideline for the way the research is to be conducted. The system is one where the aims and objectives of the firm are considered while creating an analysis pattern. Doing so would help the company to identify the model it needs to follow to create a survey method that would best answer the questions of whether the brand has managed to provide to the customers what it aims to offer. In this case, the research did have a clear demarcation of the people it needed to focus on, the questions to be asked of them and the reactions to be expected. The system was thus an exploratory one that had its priorities in place.

Abundance of interviews

Although the research had in mind the preferred consumer base for this research, in my opinion, the survey was not enough. The survey was done across a group that was already loyal to the brand. It was an essential factor in deciding the factors that built the level of the consumers’ trust, but it did not measure the factors that made other customers loyal to other brands. The process of direct marketing involves a significant amount of promotion by words of mouth. This factor might cause other brands to proliferate into their consumer base (Jones and Ranchhod, 2007). Performing research on consumers of other brands would have provided the brand an insight into the strategies that other brands use and use it to their advantage. In a market that provides such a fierce level of competition, such a flaw is dangerous (Jung and Yoo, 2016). The brand researched their consumers in matters of their satisfaction and expectations, but it only provided insights into how they should strengthen their weaknesses. However, researching other brands would have helped them incorporate new strategies into their marketing strategies and product development and provide them with a competitive edge.

The Author’s key findings

The author conducted the research for three brands, Avon, Oriflame and Amway. The results showed that Avon constituted the majority in the market share. 39.7% of the customers have a relation of 3-4 years with the company. 24.1% have a connection of 5-6 years while 17% have been associated for 1-2 years. 13.9% have a relation of 6 years while 5.1% have a relation of less than a year. The research also took into account the buying behaviors. It was seen that the buying behaviors were decided to a certain extent by the incomes of the respective customers. Most of the test subjects had a monthly income of 301-700 RON or less than 300 RON. These factors affected their buying patterns.

New Findings

The author found that what influenced the buying pattern was based on some factors. One of the most important factors was a degree of brand loyalty. The commitment was determined by the level of habits in the consumer that made the customer relationship buy from a particular brand out of a habit. The customer also bought a particular product because of a level of mutual trust with the salesperson. The researcher uses indexes to classify this data and arrange a system that would help in future researches of such a nature.

Personal decision on the author’s findings

The author’s findings did personally convince me. The results drew a finite outline in matters of the assessment of the product success. It identified and pinpointed the areas that helped in the brand’s success and also provided with an idea of where to improve for continued success.

Applications of these findings

The findings in this research mostly focus on the customer trust and buying behaviors. These findings would help in the assessment of the target market management in creating the right strategy to sell my product. Although the study is a cosmetic brand, any product marketing requires a research of the customer incomes, buying patterns and brand trust. The study gives an idea of why it is important to create a dealer and consumer relationship to create an amount of brand trust. I would also conduct a thorough research of the strengths and weaknesses of my product among an established customer base to locate the points where I need to develop the product and accentuate on the strengths.

 Conclusion

The core market survey presented in this paper focuses on the level of trust built in a consumer. The findings are essential in the creation of a market strategy that would help in the survival of the product. The products of any brand would need to have an amount of reliability that the customer has already experienced. The process of survey involves the established consumer base that has an idea of how the product has evolved or created. It would ensure the long run of the brand resulting in its ultimate success.

References

Books

  • BOBÂLCĂ, C. (2014). Gaining Insights into Factors Affecting Customer Loyalty in Direct Selling. 1st ed. [ebook] România: Alexandru Ioan Cuza University. Available at: http://iuliana.bobalca@uaic.ro [Accessed 16 Apr. 2016].
  • Brown, S. (2010). Tough customer. New York: Simon & Schuster.

Journals

  • Jung, J. and Yoo, J. (2016). Customer-to-customer interactions on customer citizenship behavior. Serv Bus.
  • Jung, J. and Yoo, J. (2016). Customer-to-customer interactions on customer citizenship behavior. Serv Bus.