A market-orientated business carries out research to find the needs and wants of consumers. It then uses the findings to design products and marketing strategies to satisfy these needs. This compares to product orientation which focuses first on developing a product and then seeks ways to persuade the consumer to buy it.
JD’s sport started in 1981 and now it is UK’s leading high street retail store of sports. A retail business such as JD Sports might be considering in opening new stores or expanding internationally. They would also be diversifying their product ranges or acquiring new companies. It is important for the business to conduct enough market research. Market research helps the company to understand collect information that would help implement changes to the business. JD sports is a business to consumer organisation, it depends on how desirable its brands are to their customers. By giving them what their customers want they would be able to surpass their competitors. It also keeps them afloat with the challenging business environment.
Every business is interested in increasing marketing effectiveness, just like JD Sports the most effective marketing strategies are those that are targeted toward a specific audience, focused on key benefits based on the audience's point of view and interests, and delivered at an appropriate time when the audience is most likely to be attentive to and interested in the message being delivered. For JD Sports effective marketing is targeted to a specific, not a general, audience. By way of illustration, consider the different approaches that might be taken with a product of theirs as basic as rice if selling to their audiences. For example, the Nike Huarache’s has gained many audiences from the age group 16 to 19 which shows that JD Sports have targeted particular audiences for their particular products which they have done with their footwear product (Nike Huarache’s).
JD sports has therefore established research mechanisms to provide ongoing feedback. These provide a mix of qualitative and quantitative market data obtained directly from consumers and from published research. By understanding its consumer base. JD sports has established itself as the market leading retailer of fashionable sportswear.
JD Sports have developed to use different marketing techniques at the same time. They use primary and secondary research. Where JD sports have been used the marketing strategy of branding they have been massively successful their logo is iconic it is recognised worldwide it is most recognised in the UK this is because that JD sports is from the UK so it advertised more. JD sport has managed to maintain growth through a thorough understanding of market opportunities. Market research is not a one off process for JD sports. Markets change and a business like JD sports needs to evaluate customer trends and monitor competitors on a regular basis in order to remain competitive. One method employed by the company is its check-out survey. This is a simple but highly effective survey that is carried out with customers at the till. By collecting the customer’s home postcode, gender and age and matching this data to the products purchased, JD can build up detailed consumer profiles.
JD prices their products while considering many factors such as the costs it takes to make the product which are lower because they buy in large volumes from suppliers. Their competitor prices, JD must make sure that they don’t charge higher than competitors for products when they are the same or similar. There are also factors such as the level of profit required and the price that customers are willing to pay. They make many innovative displays and creative imagery, this ensures that the store stands out and is exciting to customers, they also review on existing store performances and forecast their sales. Choosing the right location to open…