Marketing Information and research

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Marketing Information and research.Marketing information and research is an important aspect of a business plan, as it identifies what the customers as well as the stakeholders want. Marketing information and research is also a detailed description of what the target customers want, need as well as how they are responding to the products and services being offered. Below is a detailed discussion on the marketing Information and research of Buffalo Wild Wings, a fast food restraunt.

Research Question

The most important question the organization is trying to answer is what the needs and wishes of the target customers are.

The kind of information needed to make useful marketing decisions include; what do the target customers think of Buffalo Wild Wings? The question tries to answer what the organization can do to encourage the customers to consume their products the more and to encourage others to do the same. A question to the already existing customers is also important in a bid to understand their product or service knowledge and how often they consume the product/service and what they think about the products/service. It is also necessary to ask those who prefer other brands that their reasons are, answer their questions in a satisfactory manner, and end up winning them to your side. Asking about the products that sell the most is paramount, as well as understanding the products that grow in decline and those that are receiving the best rates and referrals.

Research recommendation.The necessary information about the business can be acquired by conducting a research where the study population will be the target customers. Another source of information would be from personal experience and knowledge, when employees really understand the markets, then they are in a position give the relevant information to steer the business forward. Regular data from the existing customers can be another source of information and the person tasked with collecting information should be persuasive and very imaginative.

Identifying the Customer and Problem

Identifying the customer and the problem is arguably the most powerful marketing strategy and tool, it enables the decision makers to ensure that marketing is effective because the customers are identified and considered and decisions on how their satisfaction will be obtained is made. the best strategy to be utilized is segmentation. a segment is defined as a group of people with similar needs and are also a part of the general market. The division of the market into segments enables the business to reach its important customers effectively and to efficiently provide the products and services.

Factors Influencing Customer Decisions

Customer decisions to purchase a product or service are influenced by a number of factors. One of the factors is geographical; in this case, the location of the customer influences their buying powers. In the urban areas for example, customers tend to consume a lot of fast food because of their busy schedules and the lifestyle in the city. Personal and demographic factors also play a greater role in influencing the purchasing power of customers. Male teen often purchase fast food because they do not give much thought to their bodies like their female counterparts. The family unit also may be a contributing factor; young families may often have take-outs because fast food thrill children and their parents may give in as they try to make them happy.

Reaching the Customer

The enterprise will focus on reaching the customer by using the example of successful business enterprises also it will ensure they do not at all cost tamper on the quality of the products and the services they are offering. Consistence is another important strategy in getting to the customer and the availability of a variety where the customer can choose.

Competitive Advantages

Buffalo Wild wings has a competitive advantage over its main competitors it may focus on having a unique product and the best dipping sauces something their competitors might not be doing. it is important to also adopt an enthusiastic culture in the business as well having friendly staff that reflects the company’s culture.

Market Niche and Positioning Strategy

Positioning strategy also enables the decision makers to understand where the customers think about the business and that information will help the organization to improve on the delivery of services and the communication of the improvements to the customers. Market Niche is a strategy that the organization must hack. it is important for the organization to ensure it places its products and offers the service in the right place.

Positioning Statement

The position statement leads in making and planning the marketing activity. The positioning statement will be to increase customer awareness in the locality. every strategy and effort will be geared towards getting the customers to know who Buffalo wild wings are.

Brand Description

The aim is to establish a distinct brand that will certainly stand out from the competitors. The logo is to be eye catching and distinct.

Brand Promise

The fries will be made by 100%fresh potatoes and with the best prices in town.

Brand Voice and Personality

Brand is excellently Delicious.

Brand never compromises on quality.

Brand Positioning and Strategy

There shall be a grand opening in a central place and colorful banners bearing the distinct logo will be displayed. A particular place in the mall will be the tester market and the most delicious wings prepared and letting out the aroma of freshly fried fries inviting people to taste the products.

When marketing information and analysis is appropriately done and the most appropriate information obtained it sets the business way above its competitors and it is safe to say Knowledge is Power against competition.