Marketing Research

This article discusses the importance of marketing research in making decisions regarding the product mix, promotional decisions, and place of distribution. It also highlights the objectives of the research and how it can help in achieving higher customer satisfaction.

Running head: MARKETING RESEARCH
Marketing Research
Name of the Student
Name of the University
Author’s note

1MARKETING RESEARCH
Action Standards
In the marketing mix, product is the factor that is regarded to the most important; hence
by answering these questions marketing decisions regarding the product mix can be made. The
objectives of the research of understanding which convenient store is appropriate for the
Washington College students and United State market will be understood. It will also give an
idea of the requirements of the target market as the format of Royal Farms is different form 7/11.
The marketing decisions in turn will help in providing the people with better services and
achieve higher customer satisfaction. Business environment is dynamic and is ever changing and
hence to keep up with the changing demands of the customers these questions will help in
building product and service list eliminate and add according to the findings of the research
(Huang and Sarigöllü 2014).It is important to keep eliminating items along with adding them as
this helps in de-cluttering the space and making room for the ones that is in trend. One of the
objectives of the research is to find the trend in the buying behavior of the customers; this will
help in setting the pricing policies of the products and hence choosing the better option from the
two stores. The buying behavior will help in understanding the preference of the customers as
well (Khan 2014).
Promotion is one of the most important marketing decisions that have to be taken by the
management of a company and these questions will also help in deciding the promotional
decisions methods and the medium of communication. The communication medium that is
appropriate for reaching out to the target market can be identified. The sample size can be
studied to understand their preference and use of medium and this medium can be used to
promote the service (Khan 2014).

2MARKETING RESEARCH
Place of distribution is another marketing decision which will be taken as a result of
answering these question. Making the product or service available to the people at the right place
and the right time is important to ensure sales. The places where there is a need of such a
convenient store will be understood after the analysis process, there for the management can take
decision regarding the location of the store (Khan 2014).

3MARKETING RESEARCH
Reference list:
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132).
Springer, New York, NY.
Khan, M.T., 2014. The concept of'marketing mix'and its elements (a conceptual review
paper). International journal of information, business and management, 6(2), p.95.