Research Project Outline, Introduction and Sources
1. Introduction
A brief historical sketch of the firm and a description of the company’s products.
Describe the company’s principal product (or products) in terms of features and benefits as well as anything else that is important to note (e.g., unique product design, packing, and labeling, etc.).
Has the product gone through any modifications/improvements, or have line extensions been added?
2. In what stage of the product life cycle is this product currently? Cite evidence such as trends in sales and profits, the nature of competition, and the types of marketing strategies.
Identification of target market(s)Who is (are) the primary target market(s) for this product? Describe these markets in terms of demographics (e.g., subcultural, social class, family life cycle stage, etc.), psychographics, and/or buyer behavior (benefits sought, usage occasion, heavy usage, etc.).
Are there any potential core or secondary market segments you would recommend for this product? Describe these segments in terms of demographics, psychographics, and/or behavioral segmentation bases.
3. Consumer decision-making processes
What type and amount of information about this product do its consumers use? How involved are they? Which level of decision-making are they in?
How do consumers go about shopping for this product?
4. Recommendations for the future of the company. (If no changes are suggested on any of the following areas, explain why the firm’s current strategy will probably be “on target” in the foreseeable future).