Rheem New Zealand . Survey Research report (Research Paper Sample)

Marketing Research: Rheem New Zealand Case Name University Marketing Research: Rheem New Zealand Case Executive Summary Business communication is a critical factor that determines the success of a company. Competition is currently stiff in every industry, consequently, companies have to embrace communication strategies that have identifiable returns and easily accomplishable for an organization. It is important to note that the decision to adopt a specific marketing strategy, the decision should be based on critical analysis of the problem and plausible methods implemented to implement the campaign. An effective market research follows a systematic analysis of data collected in line with the variables that would give practical results to influence change in a marketing strategy. It is essential for companies and organizations to identify the specific medium of advertisement and communication with the consumers. For example, some companies adopt strategies that overlook the traditional communication channels while others employ technology and computer applications entirely in marketing. It is important to note that the decision to choose a medium is a factor of consumers’ preferred source of information. Rheem New Zealand is a company that is not certain whether the marketing strategy is appropriate in line with the products and the customers. The major challenge the company has is to exemplify the effectiveness of the current communication strategy and if possible determine the best action to take. In addition to this, the company is also seeking to determine if the previous exercises have been a waste of company resources. The purpose of this research is to explore the various factors that influence the purchase of water heaters in New Zealand and also to demonstrate if there is a possible correlation between the consumers’ decision to purchase a product is influenced by the competitors’ advertising strategy. Most importantly, this research is designed to examine the correlation between consumer behaviour and a company’s preferred marketing strategy. In this present study, Rheem New Zealand Limited, the leading water heating manufacturer in New Zealand is used as a case study. On the contrary, the implications of the findings will answer a number of questions that have bothered the company. Firstly, the management would want to know if the current end user oriented market marketing strategy is really effective and not a process that is unnecessary and depleting the resources. In line with this, the research questions adopted in this study are intended to enable the researcher identify the various aspects that the marketing team is currently missing. Secondly, it is imperative for the company to note that present day marketing entails more than just communicating with the consumer, but a process that is complex and requires adequate and factual consumer response on various factors that influence the decision making process. The case is further complicated by the fact that most of the products the company sells have seasonal applications and that continuous market analysis and especially consumer behaviour is essential in all business aspects. The data analyzed in this study are derived from the field and the market in which Rheem operates. This research study is therefore vital for the company given the fact that it is intended to explore the possible inadequacies in the company’s chosen marketing strategy. Consequently, the management is able to make informed decisions on the state of the marketing strategy that the company should adopt. Decision tree Research in marketing involves a series of tactical and strategic decisions based on the desired outcomes. The complexity of the decision problem that each research design adopts is often the major factor to consider when identifying the appropriate marketing research. According to scholars, the initial process in decision making is identifying the problem and consequently proceeding to evaluation of the factors that lead to the occurrence of the identified problem. McQuarrie (2006) writes that the in planning a market survey, the researcher should identify and articulate a specific problem that necessitates the research. In essence, any market research is intended to offer solutions to a specific market problem that impacts the performance of the company in a market. Business decision makers therefore rely on the findings of a research to make decisions on a problem. Rheem manufacturing company is in a situation where the very strengths that the company has had are no longer trusted. Secondly, the management is worried that the impacts of a failure to effect fast and strategic changes to its marketing strategy would be detrimental in the near future given the level of competition in New Zealand. It is notable that the main problem in this case is that the company is not certain and doubts the marketing strategy that the company has apparently employed in the last few years. The second problem the company encounters is that the consumers have changed and are in constant search and access to information that could lead them to other companies. The effects of this place profitability and the success of the company at stake. Rheem has in the past adopted a business to business marketing approach and has opted to use the sellers and its outlets to show case the company products. However, the management is concerned that there is not enough monetary resources to adequately support the growth and also confirm the sustainability of the drive and public shows as it had done in the past. From the above problems, the company has to stick to a strategy that will ensure that the major reasons that contribute to effective consumer communication are highlighted and adequately analyzed. The company has to employ this information in the management of future research methods and in determining the course of future marketing approaches. In regard to the present study, the major research questions this study will explore include the following. What is the extent to which water heaters are significant to the entire New Zealand population? The second research question is that what are the most important aspects of a water heater for an end consumer in regard to price, energy efficiency, brand, longevity, warranty period, the installation and running costs? What are the factors that influence the purchase of water heaters in New Zealand, and which among these factors are determined by human interaction with others and with qualified personnel such as plumbers and other doctors? The above research questions adequately cover the sixteen items contained in the questionnaire. To begin with, the first study question is intended to explore the level of the different aspects of question six in the questionnaire which is intended to elaborate the level to which different families and respondents view hot water either as a necessity or a luxury. The second study question is in line with the questionnaire because the entire survey is an emphasis on the direct or indirect impacts of external forces in the individual decision to purchase a water heater. Additionally, the research question is intended to exemplify the relationship between the purchasing ability in relation to other home needs. It should be noted that this influenced by the prevailing economic status of an individual. Data collection Research design and procedure determine the outcome of a research. Data collection methods are many and vary from each research study to the other. In regard to this, it is important for a researcher to identify the most appropriate data collection method that will enable effective data collection and equally influence coherence. The study problems and the expectations of the research influence the data collection method a researcher embraces. The study design used in current study was based on qualitative analysis of sample data randomly collected in various households in New Zealand. The procedure in this study involved the use of questionnaires which had sixteen questions in total. The sample size was 90 with a gender parity consideration. This sample population consisted of 45 females and 45 males drawn from the same geographical location. This was done to ensure that the disparities in weather conditions do not result into discrepancies in sample data analysis. The data was collected based on the questionnaires. On the contrary, the respondents were not allowed to take the questionnaires home. This was a random check and the researchers were aware of the fact that there would be difficulties and minor problems in data collection and the conduct of the entire research in general. Based on a simple answer and open ended questions in some cases, the researchers gave the questionnaire to the respondent and further proceeded to read the questions as they appeared in the questionnaire and the marking the answer as the respondent gave answers. Each interview session was scheduled to run for thirty minutes maximum time in order to enable the research to proceed in the shortest time possible before the respondent got distracted and the concentration wanes. The researchers then embarked on home based survey after the individual survey in order to ensure that the research questions are adequately answered. Furthermore, it was assumed that those surveyed in the first interview would be part of larger families or below the average age to give adequate information on the issues in the survey. Most importantly, the participants were allowed to consult with the family members on what they thought influenced their previous heater purchases and the result of the decision. In the process of a research, the researcher often encounters a number of problems. These problems could result in poor response or unsatisfactory data sampling and compilation. ...