Market Research Plan
Here at International Rental Car Company, we do our best to satisfy our customers. We plan to begin a rewards program in summer of 2014. It will consist of free upgrades, free rental days, and other services most customers use while renting our vehicles. We also would like to raise our customer loyalty by 10 percent. IRCC will collect information to see what kinds of incentives are most valuable to a customer. The program is important to stay competitive among other car rental companies. Many companies offer incentives that cause customers to remain loyal to the given company. It will help the company grow in sales and customers will remain content. IRCC plans to use polls, online surveys, social media, and post-purchase surveys. These are all possible ways to get the appropriate information from our customers. Several questions to ask: are you satisfied with the current incentives?; what kind of incentives would like to receive as a customer?; what kind of vehicles do you mostly rent?;what factors (gas mileage, size, image, price, etc) do you consider while renting a vehicle?. It will help us to understand what our customers look for and what new incentives to offer.
We will prioritize suggestions and use a poll to see which products/services customers would appreciate the most. IRCC will be able to implement the retention program with the best possible incentives for our customers.
If Mr. Smith chooses to continue with the production concept for his business, he will have to focus on manufacturing inexpensive products that are widely available across the U.S. His primary areas of concern are to ensure the company is able to produce a vast amount of lawnmowers, be efficient, and keep the costs low. Mr. Smith’s products will be for the everyday person. He will easily be able to expand his business using the production concept and overpower the market share.
On the other hand, he will face several issues if he decides to continue with the concept. While his products are cost efficient, another company will sell products of better quality or performance. This can be challenge for several reasons: the products will cost more and may bring the competitor a larger profit. People will pay extra for quality and assurance. In addition, if he does not focus on the needs of the buyer, he will lose customers. Mr. Smith would potentially have to focus on efficient distribution or production after studying how the concept works for his manufacturing business.
Cell phones are an easy way to communicate with others. Maslow’s theory
