Market Research Implementation Market research is a vital part for any organization wishing to offer its products or services to a certain target market. There is great importance for the Starbucks to focus on conducting a market research before enhancing their existing tea product line in meeting the increasing customer needs. First, this will help the company to communicate this service better to the customers. Communication of this message to the customers will be helpful in determining how well Starbuck is currently meeting their expectations. This is to mean that the company will be able to know where it is doing good and where it is doing wrong.
This is a basis in making improvements as it implements the expansion of its tea product line to meeting the increasing customer needs (Burns & Bush, 2000). In addition, market research will be important for Starbucks to identify current opportunities for its tea products to its customers. Through the market research Starbucks will be able to identify where exactly is the marketing communication needs to be improved. Nevertheless, it is a basis to understand the willingness of the customer towards the expansion of the tea product line. It will be funny for the company to expand its product line when actually it is currently experiencing marketing problem for the tea product (McDaniel & Gates, 2005). Furthermore, through the market research Starbucks will be able to minimize risk. Introduction of a new product or expansion of an existing product line requires the company to invest more. Thus if a company does not take care it ends up getting a blow in its sales. Therefore, through the market research Starbucks will be able to identify to what levels its tea product is required by the customers. In so doing the company will be able to control the development of the product through focusing on the demand. As a result, the company will be able to control the risk of producing less or more than it is demanded in the market (Burns & Bush, 2000).
Finally, through the market research Starbucks will be able to benchmark and measure its progress in the tea product. Through this the company will be able to gauge its business progression before expanding its services to a bigger market. This is a basis towards coming up with a correct measure when expanding its tea product line to both existing and new customers. On the other hand, Starbucks should focus on using secondary market resources as it looks forward to enhance its existing tea product line to meet the expanding customer needs. This is because they will help the company to gather data about the customers thus being able to develop the product in accordance to the preference of certain groups of the customers.
For instance, Geo-demographic data will be vital for Starbucks to study its customers with reference to their life stage and their lifestyle. Through this Starbucks will be able to develop tea product line which meets each certain group (McDaniel & Gates, 2005). Nevertheless, through the use of secondary marketing resources, Starbucks will be able to gather information about its competitors and the industry. This will help the company in understanding the industry and its competitors better before implementing its new strategy. For instance, through the use of the commercial market reports Starbucks will be able to understand the level of competition to the region it focuses on expanding its tea product line to. In conclusion, market research and the use of secondary marketing resources will play a vital role for Starbucks as it focuses on expanding its tea product line to meet the increasing customer needs. However, the success of this strategy will depend on how Starbucks responds to the feedback it gathers from the customers via the market research.
References
Burns, A. C., & Bush, R. F. (2000). Marketing research (3rd ed.). Upper Saddle River, N.J.: Prentice Hall.
McDaniel, C. D., & Gates, R. H. (2005). Marketing research (6th ed.). Hoboken, NJ: Wiley.
