-To understand various marketing strategies that can influence international buyers.
-To analyze the present market situation and estimate the potential for future development.
-To show how marketing strategies can help to improve the sale of the product.
I would like to carry out the following strategy to implement my research plan:
1. Understanding demand in the existing market: The focus is on what the customer demands. I would conduct a survey by interviewing the preferences of different sects of the population based on their demographic and socioeconomic status. The type of quality, color, cut, design and other features they prefer will be determined.
2. Proper channels of marketing: My strategy is to target the novel channels of marketing. Currently, Internet marketing strategies play a vital role in our life. Awareness about the product online, through emails, blogs and social networking sites can prove to be beneficial for the company. Under this category I would prepare questionnaires of how potential customers would like to hear about our product.
3. Analyzing the competitors: I will list specific companies that are our competitors in the market and will gather information like:
• The quality they manufacture
• Who their target customers are
• Their pricing and delivery options
• The kind of machinery and equipment they use
4. Training and motivating sales force: Encouraging and rewarding employees will help produce high performance marketing and sales. I will conduct a survey as to how the sales performance and its success rate in marketing can change by training and motivating the sales personnel.
I plan to avail the following three crucial methods in my…