Marketing Research

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Words: 3560

Pages: 15

Category: Business and Industry

Date Submitted: 09/26/2011 08:54 PM

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1. Executive Summary

This report is a marketing research study conducted by Team Solace in collaboration with The Mexican Tacobar to examine plausible ways to increase sales. Our team did a segmentation analysis to gain a better understanding of different market segments, from that giving the manger specific recommendations—tailored to each segment—to boost sales.

The study was executed in a series of phases. In Phase I, we conducted an exploratory research that involved an observational study and focus groups to better understand the clients, their customer perception towards Mexican food and generated a hypothesis for our survey. Phase II included descriptive research with a list of comprehensive questions so as to obtain the consumer behavior data to validate our hypothesis. After analyzing the data on SPSS, we gave the manager a segmentation analysis and some recommendations catering to individual segments.

The customers of Mexican Tacobar are mainly students and working adults. As both segments have low awareness of the stall, we think the manager should gain further exposure for Mexican Tacobar: redesign to give the stall a more attractive look, participate in some campus activities as a caterer. Since price is a foremost factor that determines purchase decisions and people tend to find Mexican food expensive, we recommend a launch of “happy hours” for students and different set meals for working adults. Particular recommendations are also provided for each student segment. We suggest a mixed meal made up of small servings for student segment 1 (price-conscious and novelty-seeking), discount cards for student segment 3 (receptive to promotions and change-adverse). For student segment 2, Mexican Tacobar should focus more on providing a healthier choice of food. This can be supported by more food certification and media exposure.

2. Management Decision Problem & Research Problem

The marketing director and Angeles felt that the Mexican Taco Bar might...