Mkt Analysis

1. The fundamental cause is Tibal’s over-confidence. First, he did have successful experience in home-furnishing industry, but the scenario has changed now. Their previous target consumers were young people, but current target customers are the older generation. Strategies that worked well on the young don’t necessarily work on the old. Tibal should have done more market research, instead of totally trusting in previous experience, before making business strategy. Second, this marketing idea that targets older generation came from Tibal’s gut feeling. Though going against mainstream business strategists’ opinion, Tibal insisted on doing so and didn’t bother referring to experts’ ideas.

2. Majorly, they should do qualitative research since they know clearly what their target audiences are and they need in-depth knowledge about the target audiences. Specifically, they should do focus groups, sample group test, in-depth interviews, and reviews of research documents related to baby boomer generation’s consumption pattern. However, pure qualitative research is not enough, they should also do quantitative research to make sure they grasped the big picture. Specifically, TB should do consumer satisfaction surveys, and in-store shopping experience questionnaires.

3. Tb should make the design of the store more young and dynamic, creating a brighter and more joyful atmosphere when customer steeping into the store. No one likes dull and dark atmosphere, no matter young or old. As for the offerings, TB should keep the functions that specially designed for the old. Tailoring products to meet the needs of customers is always the right rule to follow.

4. Nextstage is not a good name for a store targeting the old generation. One thing most old people don’t like might be getting older. And the name NextStage seems like to remind them of this. Brand name, as an important component of brand image among customers, should cater to customers preference, and in this case, a more...