Marketing Simulation Coffeetime Is Interested Term Paper

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In terms of image and market characteristic research this would need to be entirely done from a primary research perspective, assuming CoffeeTime is interested only in their specific brands' image and market characteristics. There are secondary data studies however available for these attributes from a broader standpoint. CoffeeTime's strategic needs for information needs to dictate this decision.

Part 2:

Finally, what additional strategy (or variation on a given strategy) would you recommend to the key decision maker in the simulation to solve the challenge given? Prepare a 350-word memo to the simulation's key decision maker advocating your recommendation.

Based on the initial analysis completed of the Indian market for coffee consumption, there is a further series of research strategies needed to more fully interpret and respond to coffee consumption through India. The steps required from a research plan perspective are as follows:

Focus groups in Mumbai, Delhi, Chennai, Bangalore, Pune and Ahmedabad. The intent of completing these studies is to gain insights into how the differences between independent and franchised coffee shops are perceived in each city, including unmet needs in each city for coffee shop services including access to the Internet and pastry sales as well.

Taste testing methodology across all cities. As part of the Indian market research taste tests need to be completed in each city to ensure the blends offered are consistent with the tastes and preferences of Indian consumers. Pricing clinics in Mumbai.

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Delhi and Pune. What is entirely not addressed to this point in any of the research strategy for the Indian market is pricing across the spectrum of cities in the sampling methodology. Pricing elasticities, pricing thresholds and the message pricing plays in branding within the Indian economy all need to be addressed. The focus on pricing as it relates to frequent coffee consumption also needs to be addressed.

Psychographics by demographic segment need to be defined. Psychographics is the study of how consumers group themselves into various groups, and this is an area that CoffeeTime must address as it strives to acquire new customers in the 25-34 and 34-45 segments, two generations of consumers with markedly different approaches to defining themselves through group affiliation. Understanding which psychographic segments are most attuned to coffee drinking as part of their lifestyles needs to be further explored and quantified as part of the overall branding strategy.

Unmet needs analysis as it relates to competitors both from an independent and franchised outlet standpoint. Answering the question of which independent and franchised coffee shops aren't offering and what their competitive strengths and weaknesses are, from the potential customers' perspective is, also needs much greater emphasis. The development of a competitive monitoring research effort, through the use of online and in-person surveys, needs to be immediately developed to accumulate in-country knowledge of the market to give CoffeeTime a….....

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