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RUNNING HEAD: Market research studyName:Date:Institution:
Market research study2Market research studyBackground InformationSpotOn is a well-known manufacturers of paint and has a strong presence in the painmanufacturers markets. The present report focuses on the special paint which can be beneficial inpreventing the floors to become slippery. This report focuses on the businesses that might beinterested in this product and will determine the market potential by focusing on the paint majorretail chains and other market segments. Further, the reports aims to find the best avenues inorder to introduce the special paint and will identify the potential prospects for conducting thesale of the product in the current markets.Objectives1.Develop Marketing strategyIn order to develop a suitable marketing strategy for increasing the customer traffic andfinding a suitable marketing segment for the new product.2.Guidelines for market research and data collectionA market research and data collection for the new product line and to develop suitable guidelinesfor assisting SpotOn with the data collection, market research and market strategiesdevelopment.When an ideas for a product is conceived, marketing research is the initial step in the marketingprocess.SpotOn should focus on marketing researchto obtain accurate information from themarket place and used to solve problems, determine needs of consumers and acquire informationon competitors. This helps in the determination of crucial variables about the business or product
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