Market Research In High-End Children's Clothing Company

As your high-end adult clothing company prepares to diversify itself by expanding into high end children’s clothing, it is imperative to do proper market research to ensure the success of this expansion. The market research process has 4 steps: defining the problem and research objectives, developing the research plan for collecting information, implementing the research plan, and interpreting and reporting the findings. Each of these steps will help create a better adapted marketing plan, and make the product as successful as possible. The retailer in question can make the best decisions by being well informed and doing their market research. The first step in the marketing research process is defining the problem. Why does the company want …show more content…
Once the company’s researchers have defined what they want to know, they need to determine the exact info needed, and decide how they will get that info. This retailer knows they want to research if a high end child’s clothing line will be successful by researching the wealth of the area, number of families in the area, and customer attitudes towards the new product. The company must develop an in depth plan of research that outlines the above listed research areas as well as the culture the product gives off and the consumers it attracts, how current customers would adapt and react to this change, projected sales of the line, who is the leader in the marketspace currently, and other factors. The company can gather secondary or primary data to meet their information needs. To gather the most effective research this retailer should use a combination of both. Secondary data is data that already exists from other sources. It can be gathered from online databases, search engines, and any other source that collects and organizes data. The benefit of secondary data can be obtained cheaper and more quickly than primary data. A downside is that it only finds information that already exists, so this retailer will likely have trouble finding pertinent secondary data on a high end children’s clothing line. Secondary data should only be used if it is relevant, accurate, current and impartial. This will provide the most helpful marketing research. Primary data is data adapted to the purpose at hand. Three popular ways of collecting primary data are by observation, by survey, and by experiment. By using primary data, the researchers can gather the exact information they need, because they choose the questions and the topics of discussion. One example of how the company can use primary data to develop a better marketing plan is to hold a focus group, where they can comment on how they feel about a product,