Your friend, Ms.Destiny Brown is the CEO and founder of ‘Hide and Chic’ an upsca
ID: 356984 • Letter: Y
Question
Your friend, Ms.Destiny Brown is the CEO and founder of ‘Hide and Chic’ an upscale leather goods store based in Houston, Texas. Ms. Brown is actively considering to expand her company’s product line to include sports accessories including golf gloves, premium quality leather grips for tennis, squash, racquetball, badminton rackets, leather sports bags etc. She has hired you to undertake a marketing research study to determine whether a market exists among retail outlets and sporting goods distributors in Houston, for these specialty items under the ‘Hide and Chic’ brand name.
Define and describe the target population for this study?
Discuss the sampling methods that could be used in this study.
Recommend, with reasons, the most optimal sampling procedures for this study.
Explanation / Answer
Answer:
My friend, Ms. Destiny Brown is the CEO and founder of ‘Hide and Chic’ an upscale leather goods store based in Houston, Texas. Ms. Brown is actively considering expanding her company’s product line to include sports accessories including golf gloves, premium quality leather grips for tennis, squash, racquetball, badminton rackets, leather sports bags etc.
I have been hired to undertake the marketing research study to determine whether a market exists among retail outlets and sporting goods distributors in Houston, for these specialty items under the ‘Hide and Chic’ brand name.
Marketing research study to be carried out in order to assess the potential business need of the above leather products in the sports section like golf, badminton, tennis, squash, etc. The aim of this market study is to assess the demand of such leather made sports products in the given market segment and consumers interest and paying capacity for such products along with the existing competition in the market.
Target Population for this study: The target population for this study is the sports person who engages in the sport activities and usage these products for their sport works. Thus this could be in the existing city as well as the nearby cities where sports works are high. Then upon adequate success, slowly slowly the organization can plan for expansion in state level, nation level and international level.
Sampling Method: Random sampling method will be appropriate for this market study because random sample from the market will be collected and the study will be performed on these samples. Thus the analysis based on random sample will help to understand the market demand for these business requirements.
Sample procedure for this study: the sample procedure for this study will be as below
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.