Marketing Research

SNHU University

  • Marketing Objectives

    Having a clear overview of your companies marketing objectives is critical when pursuing growth and prosperity within your company. These objectives can help the marketer by setting goals and making it easier to accomplish them by narrowing down the companies marketing focus into something that’s easy to follow and implement, thus decreasing the chances of wasting resources on goals that are not paramount to the companies success. (How to Develop Marketing Objectives, n.d.)

    These objectives can be determined by performing a Situational Analysis as well as a SWOT Analysis to shape the companies goals and create a roadmap to follow. Marketing objectives should follow the SMART criteria of being specific, measurable, achievable, relevant, and include timeframes to ensure that they are realistic and manageable. (How to Develop Marketing Objectives, n.d.)

    Creating marketing objectives is not only monetarily beneficial, but it is also compatible with the companies missions and goals. Creating a sense of purpose within an organization can increase focus, consistency, progress, and allows the company to maintain control as they work towards reaching their objectives. (How to Develop Marketing Objectives, n.d.)

    Lastly, it’s imperative that a company considers the ethical and legal implications of creating unsuitable goals. This includes avoiding false advertising, privacy laws, consumer reporting laws, and ensure that any work including email marketing meets the CAN-SPAM requirements. (Mejia, n.d.)

    References:

    How to develop marketing objectives. (n.d.). https://www.slideshare.net/maxwellranasinghe/how-to-develop-marketing-objectives

    Mejia, R. (n.d.). 5 important laws Every marketer should know. https://blog.gobonafide.com/bid/149214/5-important-laws-every-marketer-should-know

  • Amazon: Legal & Ethical Issues

    With Coronavirus rampant and cities shut down, Amazon quickly rose to the top with their quick shipping and large selection of items. As the company continued to grow it was made apparent that they were creating unsafe working environments for their employees. With highly unreasonable demands such as 300 items picked within an hour to working 55hrs/10 days shifts. As complaints grew louder a previously fired employee managed to unionized a warehouse for the first time in the companies history. (Challenging Amazon Report, 2020)

    Not only does the company participate in unethical/illegal practices in the U.S, but it is estimated that they could have cost the UK public $1.8billion due to their tax avoidance. Amazon also engaged in stopping a law in Seattle that focused on tackling the dire homelessness crisis the city faced by threatening to remove their public funding and support. (Boycott Amazon | Ethical Consumer, 2023)

    After years of seeing extremely fast growth, the company saw a loss of $3.8billion in profits for the year 2022 (Kohan, 2022). While this is mainly due to the reopening of the world post COVID, but also because of the massive controversy surrounding the company. Viral videos are posting recommending their viewers to no longer support Amazon due to their poor working conditions and how unfairly they treat their workers. It is also estimated that the company lost 2 million prime memberships within the year 2022 indicating that Amazon is seeing a lack of growth. (Kim, 2023)

    If the company wishes to succeed and continue to see growth it would be beneficial to better their employees working conditions as well as improve their benefits to ensure that they are providing a fair and desired compensation. Amazon should be socially-responsible and pay their taxes to help fund the communities that purchase from them.

    References:

    Boycott Amazon | Ethical Consumer. (2023, March 15). Ethical Consumer. https://www.ethicalconsumer.org/ethicalcampaigns/boycott-amazon

    Challenging Amazon Report. (2020, October 12). TUC. https://www.tuc.org.uk/research-analysis/reports/challenging-amazon-report?page=2#section_header

    Kim, E. (2023, January 18). Amazon’s Prime membership program stopped growing in the US for the first time ever, according to new estimates. Business Insider. https://www.businessinsider.com/amazon-shopping-prime-membership-us-stopped-growing-first-time-ever-2023-1#:~:text=Amazon%20ended%20last%20year%20with,largest%20market%2C%20according%20to%20CIRP.

    Kohan, S. E. (2022, April 28). Amazon Loses $3.8 Billion In Profits But Andy Jassy Is Not Concerned. Forbes. https://www.forbes.com/sites/shelleykohan/2022/04/28/amazon-loses-38-billion-in-profits-but-andy-jassy-is-not-concerned/?sh=7678eb63656e

  • Importance of Branding

    Nike has became one of the most notorious companies within the athletic apparel segment due to their strong brand that has become known in households around the world. Their mission is to “bring inspiration and innovation to every athlete in the world” (Our Mission, n.d.) with a focus of inclusivity and to encourage anyone with a body to feel comfortable enough to participate.

    In 1995, Nike adopted the well-known swoosh logo that has helped differentiate their brand from others (Admin, n.d.). Their logo does a great job indicating the type of business they are with the immediate thought going to basketball and then to basketball shoes with a focus on the Greek goddess Nike who was known for winning and her achievements. Not only does the logo show their consumers that they are focused on athletics but also that they are a strong, determined company. (Admin, n.d.)

    When creating a brand, it’s important to follow Nike’s lead with finding a logo that sticks out to viewers, as well as maintaining the integrity of the logo meaning that it should only be used in a positive light without any negative connections.

    References

    Our Mission. (n.d.). NIKE, Inc. Retrieved May 12, 2023, from https://about.nike.com/en

    Admin, J.-. L. (n.d.). Joe – LMW Admin. https://blog.logomyway.com/nike-logo/

  • Green for Profit or Green for the Environment?

    In 2021, Cummins was listed for the 14th year in a row by Ethisphere for being one of the most ethical companies around the world. That same year they also received an award for being one of the best large employer. (Ethisphere Names Cummins to World’s Most Ethical Companies List | Cummins Inc., 2021).

    Cummins has been a leader of ethics in the business world since it was first founded in 1919 and has created 10 ethical principles which they expect everyone to follow and respect. These principles are, “

    1. We will follow the law – everywhere.
    2. We will embrace diverse perspectives and backgrounds and treat all people with dignity and respect.
    3. We will compete fairly and honestly.
    4. We will avoid conflicts of interest.
    5. We will demand that everything we do leads to a cleaner, healthier and safer environment.
    6. We will protect our technology, our information and our intellectual property.
    7. We will demand that our financial records and processes are clear and understandable.
    8. We will strive to improve our communities.
    9. We will communicate with honesty and integrity.
    10. We will create a culture where all employees take responsibility for ethical behavior.” (Ethics and Compliance | Cummins Inc., n.d.)

    A quick search of “Cummins ethical issues” lead to news articles surrounded by all of the awards the company has received and praises. I was unable to find any negative information regarding the company and their ethical practices.

    After researching Cummins it is clear to see that they value having a safe and healthy work environment and take their 10 principles incredibly serious leading me to believe that they genuinely do it for the good and environment.

    References:

    Ethisphere names Cummins to World’s Most Ethical Companies list | Cummins Inc. (2021, February 23). Cummins Inc. https://www.cummins.com/news/2021/02/23/ethisphere-names-cummins-worlds-most-ethical-companies-list

    Ethics and Compliance | Cummins Inc. (n.d.). Cummins Inc. https://www.cummins.com/company/esg/governance/ethics-and-compliance

  • Top Dog: Marvel VS Under Dog: DC

    • What is the brand strategy being used by the top dog? What is the brand strategy being used by the underdog?

    Marvel came out of the ashes and focused on creating a brand for their company which is when they began The Avengers. By slowly releasing cinematic art they were able to create a loyal fan base who were able to enjoy the universe created by Marvel.

    DC was in the lead with several movies and tv shows being produced in the 70’s/80’s, but slowly put in less effort in their products and marketing strategies. They did not provide a reliable timeline of release in their products and lost many consumers interest due to this.

    • How can the underdog improve its strategy so that it can gain more market share and surpass the top dog? Provide three recommendations.

    1. Invest in well-known action producers and directors that are known for their work to put trust back into their consumers

    2. Create more futuristic products that reflect on todays technology

    3. Follow Marvels lead and focus on their brand and gaining interest back from lost consumers by creating a storyline that will last for years.

    • Why do you believe consumers prefer the top dog over the underdog? Which do you prefer, and why?

    Marvel has maintain steady releases of product for their consumers to indulge in. After watching all of the Marvel movies and most shows and then watching DC movies the quality of Marvel is much better. They also provide a storyline that hooks their viewers into wanting more, which they happily provide.

  • Under Armour’s

    Willful Digital Moves

    In 2014, Under Armour released their newest marketing campaign “I Will What I Want” across the world. With this new campaign came a new target audience and market that they needed to reach. The company was able to do this by identifying different market segments such as their demographic segments of age and gender, with their spokesperson speaking of being denied acceptance to ballet school at the age of 13 due to her body. Later, they introduced a supermodel with their psychographic segments of personality (those who enjoy following or reading about models and fashion), as well as having a lifestyle that includes athletics. Lastly, their geographical segment was broad with a full global scale. (Saghian, 2016)

    It’s important to remember several things when implementing these segmentation strategies. This is because preferences vary person to person despite them sharing multiple similarities. Another issue would be to remember that different segments respond better to different types of marketing channels, if your targeting a large age range it’s vital to understand the best way to get your content out. As Under Armour launched their campaign globally, it raises the issue of also being educated in different cultural norms, as something we perceive as kind could be disrespectful somewhere else. Lastly, and most importantly, knowing your consumers and their preferences is key to being able to adjust your product to best serve their needs. (Kardes, F., Cronley, M., & Cline, T. 2020)

    A recent market segment that I have noticed is the influx of adult females partaking in the collecting of Pokemon, as I am one myself. Within the last year the amount of women purchasing cards has increased exponentially which could be segmented into different age groups, younger for the ones streaming/selling or older mothers making purchases for their kids.

    References

    Saghian, M. (2016). Under Armour’s Willful Digital Moves. Social Science Research Network. https://doi.org/10.2139/ssrn.2974755

    Kardes, F., Cronley, M., & Cline, T. (2020). Consumer Behavior (2nd ed.). Cengage Learning US. https://mbsdirect.vitalsource.com/books/9781305161689

  • Critical Elements

    Nike continues to focus on promoting an open and diverse place for consumers and workers alike. As they continuously work towards that goal the recent market research regarding the new product Sheels actively involves women and how the product would benefit them. Between researching women’s online shopping trends and analyzing their data involving social media time, average salaries and average monies spent per shoe directly aligns with the companies objective to remain diverse and inclusive to not just the stereotypical male athlete. (Diversity, Equity & Inclusion, 2022)

    Current industry trends show and increase of consumers wanting environmentally sustainable materials used for their footwear (Footwear Market Size, Share & Growth Trends Report, 2030, n.d.). This can be beneficial to the company if it’s decided to move forward with the trend and create a campaign around it by highlighting new or older footwear that aligns with the trend if so desired. If Nike decides to continue producing their products as they have been, the public may react harshly and could result in loss of market shares and consumers boycotting the company. Another recent trend would be online shopping which allows the buyer to purchase items at ease and in the comfort of their home, while this is largely beneficial to the company it can have some implications regarding populations who are not as knowledgeable with technology and rely on in-store purchases (Footwear Market Size, Share & Growth Trends Report, 2030, n.d.).

    The proposed marketing strategy regarding Sheels remains truthful and transparent in respect to the new product. To avoid false advertising, the company will comply and follow truth-in-advertising laws (Truth in Advertising, 2021). There is also the concern of maintaining bona fida usage in terms of endorsements and testimonials, as well as influencers. To avoid this any person speaking on behalf of the company and product must speak out of honesty and their own opinion. (16 CFR Part 255)

    There were limitations that made the market proposal more difficult that were due to the market research such as the survey and limited amount of leads generated. This makes it difficult to know exactly how many consumers would be interested in the product and how they would feel about it.

    References

    Diversity, Equity & Inclusion. (2022). Nike. Retrieved December 5, 2022, from https://about.nike.com/en/impact/focus-areas/diversity-equity-inclusion

    Footwear Market Size, Share & Growth Trends Report, 2030. (n.d.). https://www.grandviewresearch.com/industry-analysis/footwear-market

    Truth In Advertising. (2021, July 16). Federal Trade Commission. https://www.ftc.gov/news-events/topics/truth-advertising

    16 CFR Part 255 (2022, November 19). Code of Federal Regulations. https://www.ecfr.gov/current/title-16/chapter-I/subchapter-B/part-255

  • Nike: Be Comfortable

    Originally created in 1964 under the name “Blue Ribbon Sports”, the company was renamed to “Nike” in 1971 in reference to a Greek Goddess (Staff, 2022). Since then, the company has heavily focused on creating high quality sports and athletic apparel for their customers around the world. With their purpose focusing on inclusiveness, the company currently holds a total of 43% of women that are employed in leadership positions as well as a shocking 30% of their employees above director level being from a diverse racial and ethnic background (Diversity, Equity & Inclusion, 2022).

    This is why it is time for the company to launch a product that provides inclusivity for all while maintaining their goal of comfort. This new product named “Sheels”, in respect to traditional shoes and heels, provides their users with sneakers that are able to turn into heels. The goal of these new shoes is to allow their users to express themselves in different ways without having to worry about comfortability. As heels in general can be painful after a while, it would allow the user to switch back and forth as they need while maintaining a sleek and beautiful look.

    The Sheels will consist of neutral colors such as black, grey, white and lastly red as it is a staple within the fashion industry and will go up to the users ankle and come with the options of having shoelaces or being slip on. While focusing heavily on the exterior design it’s important to continue to maintain the brand of comfort which is why they will include gel bottoms that provide cushion for the customers feet. As the product is meant for two different styles it will be made of a flexible material so when the user initiates the heel version it does not cause damage to the shoe and continue to maintain its integrity, same for when the heel is put back into the sole to become flat again.

    Research objectives include finding the answer to what the common person thinks of multi-use shoes, what sports athletes would feel comfortable endorsing the new product, and what types of events would people wear the new product to. For the first objective, primary research will be conducted with focus groups of people that have experience wearing heels (women, transwomen, etc.) and athletic shoes to find out how they feel and what they dislike about it. The second would be another primary source of personal phone and video interviews with well known sports athletes to gain an idea of who we are going to use to help market the product to the public, and lastly would be gather data regarding the most commonly worn shoes during events and also a survey on how they feel wearing heels during said events.

    Once this data is collected, researchers will have a better understanding on how the product will do once it is launched, as well as take the information to help make improvements of the product before so.

    References

    1. Staff, F. (2022, August 1). Nike. Fortune. https://fortune.com/company/nike/
    1. Diversity, Equity & Inclusion. (2022). Nike. https://about.nike.com/en/impact/focus-areas/diversity-equity-inclusion

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