Marketing Plan Exercise

Essay by angiekayCollege, UndergraduateA+, August 2009

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Week TwoAssignment: Marketing Plan ExerciseSelect a company that produces a product that you use and with which you are familiarArbonne International is a company that produces products that I frequently use.

Define one specific problem it could address through marketing researchArbonne prides itself on providing products that include the finest pharmaceutical grade ingredients with botanicals and herbs. Sadly though, it is one of those multi-level marketing companies like Amway, where one is encouraged to become a salesperson, have parties, and recruit others to become salespeople. One problem that the company currently faces is the fact that sales are falling due to issues with the economy as well as advertising issues where the company is unsuccessful at getting the word around about their products. Marketing research would help the company better define these specific problems and find ways to solve them by specifying the research objectives, identifying characteristics of the targeted consumer groups, and by defining what factors in the company's internal and external business environment might be influencing certain problems.

According to All (2009) "Many companies use market research as a guide. Whether you want to expand your business into a new area or introduce a new product, primary and secondary market research can provide valuable insight to help you shape your business and prevent costly missteps".

What type of research design do you recommend for addressing that problem, and why?I think the best type of research design for addressing these problems would have to be secondary research because it is less expensive and the company already has all of the completed research they it would need. Arbonne already knows that it has a good product and the company has plenty of data available to show new consumers. They just need to find a new way to get the...