Marketing Research + Value = Happy Consumers

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Have you ever purchased an item in which you conducted extensive research prior to the purchase? Why is that? Why did you compare prices, shipping time, and specifications? It’s because you want to find the best value for your money. We as consumers always look for value with in our purchases. The value can be the brand name, the product quality, the price, the specifications or even the color options. All of this is done by conducting our own type of research, we Google the product and competitors and see what we value more. On the other hand, as a marketer we need to create value towards our products. This is why we conduct marketing research so that were able to understand what our target audience values more. For instance, Starbucks has created a different building layout in Europe compared to the United States. In Europe most Starbucks are larger, with more seating area, and they have a higher inventory of dining in utensils such as cappuccino and latte cups. Starbucks franchises located in the United States are generally smaller and have a higher inventory of to go cups. Why is that? Well, marketers have conducted their research, Americans typically have a fast-paced lifestyle compared to Europeans, so the use of to-go-cups is higher in the United States.   By contrast, Europeans enjoy a seated environment where they can relax, drink coffee, and conversate. The lifestyle Is way slower than the American lifestyle. Marketers have learned this because they executed proper marketing research before they opened new branches overseas.  The target audiences overseas saw value in the coffee, brand, and added value for the seated environment.  

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