Question:
Thus far you have learned some of the basic constructs of market research and its relationship to planning. You are an existing company that sells to mainly females in the 15 to 24 year old demographic.
You have retail stores throughout the US in most of the major cities. Your clothing line is considered fashionable among this demographic that reside mostly in these major cities.
Competition however has increased over the years and market share has steadily dropped. Your company is thinking of expanding into the suburbs where there is less competition.
The median income however is night as high in the suburbs as they are in the major cities and there is a concern that your clothing line may be considered too expensive for this new target area.
In addition, the style of clothing may not be to the liking of this suburb demographic as well. Your assignment is to develop a marketing plan by conducting some research and developing a survey that can be sent to this new potential demographic.
You must also consider new technologies, such as social media to reach this new demographic.
Your new marketing plan to find out whether this new demographic will purchase your clothing line in stores located in the suburbs will culminate in a market research report.