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Marketing research - Essay Example
The paper aims to feed the company with vital information on who it can penetrate the already vibrant market and if possible, grow to the top in the nearest future. The market problem therefore is how Hot Cup can beat existing competition in the university campus…
This marketing research talks about the decision of Hot Cup Coffee shop to enter the university campus. As a newcomer and with several competitors already in the system, this research was very justified and timely to ensuring that the company was made aware of the challenges that were ahead of it and how it could overcome the challenges. The research was made possible by the assistance of twenty respondents, who responded to questions asked by the use a questionnaire. Basically, responses gathered from respondents show that the coffee shop business is a viable and lucrative one on campus. However, there is the need to meet the needs of students if any new coffee shop wanted to make it and make it big. For instance, students have specific kinds of products they trade in most and specific times of the day they patronize coffee shops most. Finally, students expect to see a wide range of innovativeness in the operations of the new coffee shop. Based on the conclusions drawn above Hot Cup should: to take the bold step into starting a branch at the university campus; to deal in as many coffee products as possible; to run on day and night system; to introduce an ordering system whereby students would order for products before getting to the shop; to embark on door to door service especially during weekends and holidays; to put customers before profit and customers will bring the profit; marketers of the company should reach students closely by having satellite branches all over campus.