B2C Product Launch to New Market Research

Categories
Market research Market expansion Product or service launch Marketing strategy
Skills
information gathering product lining new product development sales market segmentation business-to-consumer customer service
Project scope

What is the main goal for this project?

As a B2C company, our primary goal is creating products that are closely aligned to our market segment’s wants and needs, so that we can maximize our sales. We have recently created a new product to increase the breadth of our product line. It will be important to gather information on buying behaviour, experiences, expectations, and perception of both our brand and our largest competitors.

Tasks may involve:

  • Creating an unbiased survey with questions regarding consumer experience with our brand, perception of our products/services, and opinions on our competitors.
  • Creating effective conversation questions for customer interviews.
  • Determining the best way to reach customers and how to motivate them to provide feedback on the company (we will distribute the survey accordingly).
  • Analyzing trends within primary data collected through the survey and interviews, and reporting on them.

What tasks will Students need to complete to achieve the project goal?

By the end of the project, students should complete the following list of activities (this is basically a retelling of the steps above):

  • Created a survey about customer experience, perception, and opinions about our brand and our largest competitors.
  • Created conversation/interview questions for consumers and analyzed the responses collected by (whoever is running the project).
  • Created a report on primary and secondary findings of industry trends.
  • Presented all findings to (whoever is running the project).

How will you support Students in completing the project?

Students will connect directly with us for mentorship throughout the project. We will be able to provide answers to questions such as:

  • The customer segments our brand primarily caters to.
  • Information about our products/services.
  • Input on choices, problems or anything else the students might encounter.