This paper intends to provide a better understanding of consumer behavior and market research in order to explore and gather insights on the customer’s of Simply Meg’s women’s clothing boutique. The first portion of the paper discusses the research problems and objectives, introduces the selected case retailer, and states the research question and purpose. Subsequently, a summary of secondary market research and literature on consumer behavior will provide a contextual preface. The remainder of the paper will explore the primary research in order to gather customer insights and to facilitate recommendations that will be provided for the owner.
1.1 Research Purpose and Objectives Owning and operating a retail store is not as simple as in
…show more content…
Focus on the customer is often lost and innovation becomes a common area of neglect.
The objectives for the study are:
1. To examine and present current market industry research,
2. to provide a brief summary on the study of market research and consumer behavior,
3. to evaluate the case retailers existing customers’ responses in order to investigate the proposed research questions of
…show more content…
Based on the research, recommendations are provided for the owner to foster the development of potential business decisions for improving customer experience and long-term profitability.
1.4 Retailer Introduction
As mentioned previously, this study will focus on a case retailer. The following portion of the paper will provide information on the retailer and bring familiarity to its current business concepts, merchandise and store attributes.
Simply Meg’s is an upscale women’s boutique owned and operated by a Greensboro local, Margaret Strader. Simply Meg’s, previously Scout and Molly’s, was opened in 2007 at The New Shops of Friendly Center located in Greensboro, NC. The shops location has provided steady foot traffic, as the center is a hub for shopping and dining. However, Simply Meg’s will be relocating to a new space in January of 2018. The new store location will be in Dover Square off of Battleground Avenue, also in Greensboro, North Carolina. The new store space is located in what can be classified as a small strip mall, facing Battleground Avenue. The space is adjacent to other stores such as a nail salon, gift shop, shoe store, yoga studio, alterations shop,
Click here to unlock this and over one million essays
Show MoreMacy’s intended to deliver enhanced shopping experiences to its consumers through dynamic department stores and online sites. In this regard, the company developed a North Star strategy that allows it to improve its sales growth and to develop its existing core activities. The company’s consumer research monitors, analyze and anticipate their needs and wants based on the changing market trends. This allows it to strengthen its customer base and also helps it in identifying new markets and customers. Macy’s also identifies different styles and designs based on various occasions and events that allow it to capture the changing preferences of its customers. The company also celebrates various iconic events to interact with its customers which
“It takes little effort to be a consumer. The simple act of buying a good or service is the only requirement for entering the club of consumerism, but in the free market economy the consumer is a special person” (Essock, 1978). Retail personnel seek to acquire buyers’ wants and needs in their products and hope to meet their customer’s desires, keeping their fingers crossed that they will return for more merchandise. Although those weekly, monthly, or even yearly shopping trips become second nature to customers, employees in the retail business thrive off these shopping routines, habits, and patterns. To find these patterns seems simple, but with an array of consumer characteristics the search can become complicated (“Types of
"Organize Your Retail Spaces To Encourage Buying." Firmology. N.p., 1 Oct. 2013. Web. 25 Apr. 2014.
In today’s world, retailer’s needed to identify and quickly respond to trends and challenges. This article relates to how a retailer faces new challenges and trends. Retailers plan so many new things for the future to some how calculate customer’s behavioristic data. Information about customer’s buying activities, for example, most retailers attempt to determine information such as the time that most customers make purchases or the average amount of the purchases. Significant that knowledge can help buyers confirm they have enough amount of merchandise where and when customers wants to purchase it. They must develop strategies in response to use those changes.
...h the stores are located in the south, the business is expanding its chain and opening stores in North Carolina in 2014.
Providing a good service to one’s customer is the first step in generating consumer loyalty. Not providing a good service to a customer will only lead the latter to look elsewhere with his purchase. Customer satisfaction is a key component in having a customer that will return for future purchases. The organization need to research on its market and adapt to its demands. They need to investigate into the purchasing behavior of their audience. The customer buying behavior is about investigating what people buy, the reasons they buy and how the buying process goes on (Kotler, 1994) and they need to research thoroughly.
However, conducting research on consumers’ behavior is a core competitive power for a company to compete and extend their profit, and this competition will finally benefits
A brand new Wal-Mart opens in a small town and instantly it puts all local retailers on edge. Store owners can only hope and pray that customer loyalty will allow them to succeed against the big box store who is known for deep price cuts and large selections. A plan has to be made, because only the strongest will survive this battle. The first thing for the local retailer to consider is that while they may not be able to compete with Wal-Mart prices, they can however offer the best customer experience. Knowing their customer base and the preferences of their customers will be monumental for any business, but particularly for a small business.
In its annual report LTD notes “we are aggressively focusing on bringing compelling merchandise assortments, marketing and store experiences to our customers” (LTD, 2011). This implies that LTD’s overarching strategy is driv...
...optimize shoppability of the store. One day, we will have cameras in every store, and the shopping experience will be tracked and customized to the consumers’ needs. Just like we get accustomed to other things in life that change around us, we will all soon agree that these options that retailers are taking without our permission will soon be invaluable and we will thank them for such ease. Although, it may not easy for some people to agree; if they were to take the time to be able to fully understand the retailer’s idea behind such techniques, it would change their mind. And if they are able to accept such change, at least they would not feel so betrayed. Under these circumstances, the observation of consumers is a provision to help boost the market with its sales and development. In addition, it creates the preeminent aftermath for both the retailer and customer.
With so many options, accessibility, and knowledge it has become a challenge for large retail chains to maintain and grow in this modern era. Since the formation of the Sears Holding Corporation the firm as struggled to remain afloat. As the cost of capital continues to increase the executive decisions have become even more
The interior of the business is styled with dark woods, and autumn hues, with forest green as the dominant color, similar to the Starbucks logo. Pictures in frames decorate open wall space, and a large chalkboard advertising today’s specials occupies the wall to the left of the pick-up counter. The store is well lit. Three sides of the building have undressed glass windows that do not open, span three quarters of the wall and show views of Route 35 and WPA.
Aaker, David A., & Day, George S. (2007). Marketing Research, Ninth Ed. Copyright John Wiley & Sons. Retrieved on July 16, 2011 from University of Phoenix website.
Retail stores consider many factors when designing the store to assist with maximizing the experience that the customer will encounter. The average customer has no idea that the store places such amount of thought into the setup and design layout. Everything from the merchandise displays to the locations of certain departments are designed to increase the revenue and success of the store. The target market for the retail store is classified as the type of customer that will contribute to the success and can evolve over time if the store is experiencing difficult times. The ability to be fluid in decision-making is required because change is constant with any customer driven business. The majority of retail customers desire the convenience of knowing that they are getting their money’s