Marketing Plan For A Marketing Strategy

1811 Words Jan 24th, 2016 8 Pages
Research is a vital component in the success of any marketing strategy. Research provides insights into the creation and evolving changes to a marketing strategy. Over the last three years, Edible Arrangements’ top franchises in New York are showing a decline of five percent in both the consumer and business segments. As a means of boosting sales, it has been decided that a new product launching could help provide the increase needed. At the beginning of our research, it is necessary to scan the market, environment, economy, and competitor offerings around these stores to better understand what may be a contributing factors to the overall decline in sales before we introduce this new product line. Once the data is analyzed, then progress can be made to ensure what the best opportunities for success will be for our new product launching. Our research plan will provide input in finding new customers for existing products, uncover new market segments, and anticipate competitors’ moves when launching our new product line.
Problem Definition
In adequately researching any topic, the problem should be correctly identified. In this case, consistently declining sales and market shares to the tune of five percent per year for three consecutive years is the underlying situation. To help understand why we have a decrease in sales over the past three years in our New York franchises we have taken the time to ask the following questions while identifying the problem.…
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