Market Research Implementation Plan
Introduction
There are many times throughout the product life cycle when an organization may decide to enhance or upgrade one of its products so that it can remain competitive in an ever-changing business world. The changes that the organization decides to make will have a decisive effect on the continued sale of the product. For an organization to successfully make changes that will benefit and appeal to potential customers, it must first conduct extensive market research to pinpoint the changes that will provide the greatest benefit to the sale of the product. Barnes and Noble are in the process of upgrading its version of a tablet, the Nook. Prior to making changes, the management team responsible for identifying the necessary changes must first perform market research and create an implementation plan.
Marketing Research
In an effort to provide multiple avenues for purchase of the Nook, Barnes & Noble reached a deal with Best Buy to become a retail channel for their tablet. The popularity of games caused Barnes & Noble to announce a software update, including a web browser and android-based games. Other
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Tony Astarita, vice president for digital products at Barnes & Noble.com, has stated that the new Nook was built in response to market research and customer feedback. "It's targeted at someone who's a solid reader but someone with Wi-Fi availability at home or outside the home and is not as mobile a traveler or reader as a 3G person," he told PCWorld. Additional features include time-limited lending of books between users on the Nook platform. This also includes software that runs on a number of mobile devices, including Apple’s Ipad "Our strategy is any book, any time, any place," Astarita stated. It also offers complementary access to some 20,000 AT&T wireless hotspots across the country (Mello,
The most obvious technological advance that helped Amazon, and the one that launched the company, was the internet (Parnell, 2014). Jeff Bezos knew that he wanted to open an online business and decided to start with a bookstore due to low pricing and an existing worldwide demand (”Amazon.com, Inc. History”, n.d.). After deciding on a model, he chose Seattle as a home for his business due to its proximity to high tech workers and a large book distributor. The website opened with a database of more than one million titles, whereas many competitors only stocked 2,000, and the orders went directly to wholesalers. Amazon quickly expanded their database to 1.5 million books and started offering deep discounts which attracted many new customers.
Barnes & Noble, Inc. (NYSE:BKS) is a Fortune 500 company, the nation’s largest retail bookseller and the leading retailer of content, digital media and educational products. Barnes & Noble provides customers easy and convenient access to books, magazines, newspapers and other content across its multi-channel distribution platform. Barnes & Noble, Inc. is a publicly traded company listed on the New York Stock Exchange under the symbol “BKS.” After a series of mergers and bankruptcies in the American bookstore industry since the 1990s, Barnes & Noble stands as United States ' last remaining national bookstore chain. Previously, Barnes and Noble operated the chain of small B. Dalton Book stores in malls until they announced the
There are many things that B&N and its book publishers can do to stimulate more business. The best strategy in my opinion would be to make more deals with large companies like Apple and Samsung. These companies are at the height of every competitive market in electronics, from cell-phones to televisions, and hold some of the most loyal customers in the market (Surowiecki, 2013). If B&N wants the Nook to stay in the competition, they have to market their product to be appealing in today’s society. To do this they have to factor in competitive prices, capabilities, and other features that can compete with top sellers. Joining up with larger companies will not only increase exposure, but also put B&N and book publishers on the same platforms as their competitors.
Books are great thing don’t you think? Barnes & Nobles is the number one bookstore in the entire country. It started in 1886. Barnes & Nobles is all over the world. It has supported many events. They have become the number one bookstore in the United States. They sell a variety of books and other products. They have grown a lot over the past 132 years. They have a long history of excellence by serving millions of customers with its wide selection of books.
... look out for high profile contacts and good image building activities especially due to the on going outsourcing concern. As community theatre boards include executive level staff these consulting companies could get high visibility and a sophisticated image by pairing up with something as ?cultured? as theatre. These companies can be requested by the boards of community theaters to sponsor the building and maintenance of the theatre websites in exchange for good PR and contacts.
They came out with the 2nd generation kindle e-reader on February 23, 2009 for US$359. The 2nd generation kindle is 10.2 ounces, measures 8" x 5.3" x 0.36" (in inches), and has 16 levels of gray. They reduced the price for the kindle on July 8, 2009 from US$359 to
The best companies embrace change and make plans to create a future for their business like Amazon did. Amazon did not have to wait very long for their strategy to take affect because that the way that the future of business was going. All they did was waiting until the demand flourished and took over the book giant’s like Barnes and Noble and Borders market share. This proves that Amazon did their research and plan accordable so that their demand matches their supply. This also shows the type of value chain process and evaluation that they did in order to continue to conduct business which is quite genius. Their demand has increasable giving them many opportunities to expand. ...
Amazon Kindle is one of Amazon’s recent remarkable products. Kindle is a portable device which allows user to read, download, and store e-books due to its wireless connection and internal memory (Amazon, 2009). The first version was originally launched in US market in 2007 and achieved success as sold out in five and a half hours (Patel, 2007). Later, Kindle has been through several upgraded versions; Kindle original, Kindle 2, Kindle DX, Kindle DX Graphite, and the most recent version Kindle 3 with improvements mostly on the shape, contrast, memory capacity, and operating system. Earlier versions of Kindle had been criticized for its aesthetic and user interface issues. Reviews from customers and gadget experts motivated Amazon to further improve the product.
Moon, B. (n.d.). Sony and Apple Spat Over App Store E-Books May Hit Kindle. Welcome to Portable Electronics at About.com. Retrieved November 7, 2011, from http://portables.about.com/od/ebookreasers/a/Sony-App-Rejection.htm
Barnes & Noble, Inc. (NYSE:BKS) is a Fortune 500 company, the nation’s largest retail bookseller and the leading retailer of content, digital media and educational products. Barnes & Noble provides customers easy and convenient access to books, magazines, newspapers and other content across its multi-channel distribution platform. Barnes & Noble, Inc. is a publicly traded company listed on the New York Stock Exchange under the symbol “BKS.” After a series of mergers and bankruptcies in the American bookstore industry since the 1990s, Barnes & Noble stands as United States ' last remaining national bookstore chain. Previously, Barnes and Noble operated the chain of small B. Dalton Book stores in malls until they announced the liquidation of
In this world, creating a new product, as good as it may be, is not enough. The success of any product, in this day and age, depends grandly on the way it is presented to the market. Marketing is responsible in assuring a successful launch of a product, new or reinvented, and to assure its sustainability in this competitive world. For those reasons, billions of dollars are spent each year on tools and strategies to improve marketing research and predict the success of a product: many marketing firms form focus groups, do trials and conduct many tests just to end up with a fairly high percentage of failures.
We have come to the phase that allows Team A to apply the research tools and implement a market research plan. Team A will review various marketing research tools that are available for researchers to use such as secondary research, secondary on-line research, exploratory research, nondirective interviews, and the Likert scale. Our secondary research is showing that consumers are demanding healthier menu options. This market research implementation plan will develop several market research tools; including questionnaires’ and the Likert scale to verify if McDonald’s consumers genuinely want and will purchase healthier menu items.
...y discardable, but has an advantage of changing font size and page brightness. With this exception, print books are going to survive. To quote British actor and writer Stephen Fry, "Kindles are no more likely to replace books than escalators are going to replace stairs“ (9). Works cited: Fry, Stephen. The Fry Chronicles: An Autobiography. New York: Overlook Press, 2012. Print. Polanka, Sue, ed. No Shelf Required 2: Use and Management of Electronic Books. Chicago: American Library Association, 2012 Pratchett, Terry and Stephen Baxter. The Long War. London: Haper Voyager, 2013. Print.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.
This paper will outline the importance of marketing research and apply that importance to a communication to the management team at Johnson & Johnson’s Consumer Products group. The discussion with management will include the use of current marketing research tools by the company today and the application of each.