MARKET RESEARCH Essay Example | Topics and Well Written Essays - 750 words

marketplace RESEARCH - Essay ExampleIt is however mainly used to show affection during special events as they are exchanged with people with emotional connections. Industry survey The last five years has non been favourable for cut flower business in Australia, this is because of the global economic d induceturn experienced in cc8 which altered consumer spending habits to focus on purchasing basic livelihood items. The other factor that has contributed to this is change magnitude competition from other developing countries producing the equivalent they offer these flowers at cheaper rates to the overseas markets. In the same vein, there are other retailers who are eating market share of the flower retailing diligence these are supermarkets and convenience stores. This directly affects local production and distribution since they source their products both locally and internationally. market productivity Our firm has a business model that tracks how advertising expenditures infl uence what clients believe and feel nearly our products. The chain of marketing productivity analyses the actual indicators of its effectiveness (Kilbourne, cc0)1. The diagram below shows the areas to be assessed As describe in this diagram, statistics that guide in assessing the effectiveness of advertising campaigns are obtained from its market and financial impact as outlined in connections statement of accounts. The financial impacts give both short and unyielding term perspectives on its effectiveness (Sawhney, 2012)2. Market share statistics are obtained through the companys own market analysis and other industry analysts reports. Sales volume estimates are obtained on daily basis and can be monitored to assess improvements resulting from marketing drives. Business profile covering bingle aspect of advertising (real life scenario, twelve month period for advertising, program and budget) Products The company deals in strange flower brands including roses, hibiscus flower and marigold since they are the highly selling as they appeal more to local consumers. It as well sells other traditional Australian flowers including waxflower, kangaroo paw, eucalyptus foliage, protea, koala fern and scholtzia flower brands. Promotional activities are conducted to raise consumer sensation on their presence especially during holidays and special occasions these are the peak periods as consumers exchange flowers on such occasions (Hainer, 2012)3. Advertising expenditure Below is a diagram that summarizes the advertisement expenditure for this company on a 12 month period. The figures are expressed in American dollars. Budget Jan Feb action April May June July Aug Sept Oct Nov Dec Television kB 3000 800 2500 1500 2000 2000 1500 1300 1000 1500 3500 Radio 750 1000 500 800 700 1000 1000 1000 850 750 500 3000 Newspaper 750 1000 300 1000 650 550 500 800 500 200 200 2500 Internet 300 500 200 500 450 300 750 500 300 - 200 1000 Total 2800 5500 1800 4800 3300 3850 4250 38 00 2950 1950 2400 10,000 Average 700 1375 450 1200 825 950 1050 950 750 500 600 2500 As it can be seen from the table, the highest advertisement expenditures are in the months of February and December since these are the peak periods in the flower industry. This is because of the Valentines Day and the Christmas celebrations which is characterised by high metrical composition of floral exchanges among loved ones. Television is higher than all other media since it is the most consumed channel in Australia followed