Market research and determining the needs and wants of your target market are of primary concern to any company. Read the following case study.Skateboarding in Brazil...
Skateboarding might seem like an all-American sport, but it is also very popular and competitive around the world. Brazil has a thriving skateboarding market. Brazilian skaters started out by making their own skateboards with roller skate trucks and wheels. Insipired by American products, they often could not afford. However, what started as tinkering has become a national industry.
Homegrown Success...
Brazil's government is protective of small firms and trademarks and offers incentives to promote internal commerce (business). Skateboard products are sold mostly through specialty stores. With imports heavily taxed, domestic brands sell far better than U.S. competitors. Government policies and taxation were determining factors in the creation of domistic skateboard brands and in the growth of the Brazilian skateboard market. Skateboarding shoes, accessories, and clothing are now also manufactured in Brazil for Brazilian brands. The largest brands are Son, Formigao, Perfect Line, and Stage. Truck brands are Crail, Tracker, and Crazy. The largest wheel manufacturer is Moska. Some of these companies have now expanded into exporting their goods throughout South America and to the USA.
In a two-paragraph response (a least 5 sentences for each paragraph) answer the following questions. In paragraph # 1, discuss the market research process as it relates to determining the needs and wants of customers in a growing market for skateboarding products. In paragraph # 2, discuss how knowledge regarding a customer's motivation to buy and value system can help in determining needs.
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21 comments:
the brazilian reasearch they did on there markets was vital to there sucess in making and selling skateboards, they looked at what the pople had now and what the really wanted. They saw that sket boards where heavly taxed in the united states. They also saw the demand there was for the international skate brands. From there reasearch they saw that they could make smaller companies to sell products cheaper and would appeall to the public and then would eventually appeal to the world.
when they saw what the customers wanted the only thing they jhad to do was make the product. This acted as a test to see what the people thought. It also gave them an estimate on how much they would need to make and how they could price them. Without that it would be very diffucult to see how to price the product and how to much to make. This value system wilol change when the go global because they could have many new potential customers and be able to charge more for there goods.
James deal
It is very important to research your respective market in order to achieve success. A company will not achieve success without knowing what their customers want. Market research can be done in many ways. Test groups and surveys are the most used ways of market research. Regarding the skateboard market in brazil, the companies have to address the full body of the board, not just the deck. Companies need to address the trucks, wheels, bearings, deck, griptape, and stickers/accessories.
Customer's motivation to buy and value system can help in determining needs. This goes back to knowing what products to introduce. One can find this out by surveys. More often than not if you know what the customer wants, you will have success. If you know why a customer wants to buy something, you can capitalize on that and introduce that customer's motivation to other products.
If enough people start skateboarding and industry starts to form. They started off with small firms and trademarks and skateboard products were mostly sold through specialty stores. With the amount of people who still bought the products even when they were heavily taxed showed that they had an industry. The skateboarding brands started growing on their own and became popular.
People in Brazil really like to skate board which gives them motivation to vuy the products. The stores know the skaters motivation so they know what to sell. They might send out serveys or other forms of questioning to find out what the needs of the customers are.
-erin
When buying for skate boarders, it would probably be best to relate how fast the economy is growing. It is also good to know what most customers want and need. The companies down in Brazil understood that people didn't want to buy skate boards that were heavily taxed, but customes wanted skate boards from international brands.
If more and more people start buying skate boards and accessories and clothes from the brands in Brazil, then their economy prices are going to get higher. And also what a customer purchases, tell what more people will want, and that will help globally.
Amanda Clark
The marketing research helps bring together costumers because you understand what they want more and get a feel for what most of them need. Marketing research can include such things like, surveys because costumers can write what they feel about that issue. Since marketing deals with many different types of costumers, the only way to gain success is if you learn more about what they would like. If a company did not market research, it can possibly hurt them because they would make products and not gain popularity. Using different ways to expand your company include researching as much a possible.
Knowledge toward the costumers ways of buying and valuing system because a company can think of new ways into targeting them. For example, if a company knows that costumers will not buy expensive skateboards then they can make promotions to lower prices. A company needs to know the different moves costumers make into buying products. Ultimitly, costumers are those who spread the good or bad word of your products. In conclusion, the other way a company can spread is if they follow and learn the different ways that a consumer thinks.
Since the American products that are sold in Brazil are too expensive, they had to come up with companies that could compete with the American brands. They knew the needs of the people; it had to be similar to the American products, but a lot cheaper, and affordable. They also knew that they're not going to charge as much for taxes either.
So once they came up with all those ideas, they had to make the actual products. They probably looked at the best products from America, and tried to make the Brazilian products very similar, but lot cheaper so there would be a lot of demand for it.
Balazs
Brazilian skaters first started making their own skateboards, but when the country realized it was becoming a big thing that they could make money with, it became a national industry. Since Brazil's government is protective of small firms it made the growth of the industry much easier. They started making accessories, shoes and clothing for the Brazilian brands. Now the companies that provide for the skateboarding stores are now expanding across South America and to the USA.
When a company has knowledge of their customers and audience, they have an idea of what their needs and wants are. Once you know what your customers want you can improve your product to satisfy their needs to promote better sales. Also, when you satisfy and give your customers what they want, most likely they will tell other people and you will gain a larger target audience.
I don't know much about skateboards or skateboarding but I do know that even for Americans it is somewhat expensive. Well at least the good ones are. To get the skateboard products exported to the Brazilians would be even more expensive for them. It is the smart thing to do start their own business there, they can make the products with cheap parts and make cheaper products.
They know how people are so motivated to get skateboards. They know that there are willing to pay any amount of money for the skateboards and they manufacture the products so that they can make the money and not spend more money on importing them. they wouldn't manufacture those products if they did not know they would make money one it. they see how popular they sport is getting to they got dedicated on making it easy for the customers.
Tenbit Melesse
Its important to know the needs and wants of customers to be able to sell the products. Market people saw that brazillian people where wanting skateboards but where to high of a price from the US so they where making there own. THe people knew if they set up smaller stores and sold the same thing for a cheaper price and less taxes they would sell alot more. They also knew that all the small acceessiors used with skateboards would also sell, so they continued to make and sell those as well.
The brazillian poeple saw what the US skate scene was using. ie the type of equipment and accessories and they wanted to be able to use the same stuff but they couldnt afford it so they made there own. When companies noticed that there was such a demand for this type of stuff they jumped on board. They where able to make the prices cheaper at the price that people could afford, same as the US.
Companies make their products image and abilities based on what they found in their studies. In Brazil, they looked at what kind of skateboards they had, and what kind of skateboards they wanted. They knew that they liked american skateboards, but that people could'nt afford them. From that, the best solution would be to make a skateboard that imitates the features on the american skateboard, and sell it at a lesser value. Ultimately, they made smaller companies to sell products at a cheaper price.
The more that people actually buy what they want, the more companies know what to make. If people want something bad enough, they will pay any price for it. The more products being sold, the more data that company will have to determine the price. Companies can raise the price if the product is at a high demand.
Michelle Tatiya
It's important to research your demographic whenever determining your target market. It's liable to be inaccurate because of the countries development. The demand for skate boards internationally is high. So everyone demanded skateboards and the supply went up.Their brands started to grow on thier own and become popular.
All they had to do when they figured out the amount of demand is to create the product. Then they can base their investment on what the demand is. This is a key essential to your business and by finding out companies issue surveys, etc.
- Sam Henderson
The research market can be very inaccurate because of the countries developement. It would be hard to determine the needs and wants. It would not be a good investment for a company to spend money in a reasearch that might be inaccurate. I think the best type of research is surveys and feedbacks after a purchase.
If a company knows the type of product a customer wants. Then the company can base their investment on a product that the customer demands for. Major financial problems can occur for a company if the research is not accurate. Theres absolutely no point for a company to invest money to a target that might not have any motivation to purchase the product a company offers.
There are many Brazilian skaters who for a hobby make heir own skateboards, and the country realized they could make a profit off of this merchendise.It was a corporation made up of small firms which make a big industry. This company started by making simple products and slowly moved into producing more and efficient products to there line. Now there is a dramatic growth in the company from places within South America to even many places in the U.S. This is good because they are expanding they're revenue and have many locations all over the world now so that they can supply to the consumers many options.
Companys evaluate annually and monthly to determine which is the highest selling product and if they should make more and or make products similar to attract other buyers. Some companys care to make a good selling product, but some other companys main objective is to just sell the product and not care about the consumers wants or needs. The more products being sold by the company, there is a high chance that the company will raise up the price and the buyer will have no choice but to buy it if they want it or really need it. A lot of companys take advantage of consumers just to make a product but not all sellers are no hearted, some have big hearts and care if the comsumers are happy with the product they either purchased or are looking for.
George Owino
If enough people start skateboarding and industry starts to form. And
skateboard products were mostly sold through stores to the teens. But ith the amount of peole who still want to buy skateboards even if they cost alot, this all means that they have a major skateboarding industry. The skateboarding brands started growing on their own and became popular as it go's on and grows.
Customer's motivation is important systemandis canhelp the customer determine there need.Knowingthatproduct is new and it will grow. And this is why peole have small surveys to know what the customer wants.
The research process is a great way to figure out how much supply and demand will be. Through researching companies know how much the product is needed. And how much a product is wanted. Skateboarding is usually considered a teens sport soo the amount of teens interested in this sport will be helpfull toward marketing.
saif mirza
The Company can use that knowledge to know how much to invest in the products. By knowing this, it can help the company. It can help the economy.And also what a customer purchases, tell what more people will want and that will help Global economy.
Market research is very important. You need to find out what consumers want and what they need in order to have your product sell. There are different ways you can accomplish this. You can give out surveys to figure out what your costumers like and dislike. You can ask what kind of wheels they want on their boards and skins also.
Knowing what people want makes it 10 times easier to market your product. You know who to market to, how to market, and when to market. For example, you would market skateboards during the summer time. You wouldn't market them in the winter time because they roads and sidewalks might be wet with rain or icy with snow.
Skye Partridge
I think Brazil got there ideas from the usa about skateboarding. And they saw that it is very attractive to teens. Now they even have a huge skateboarding market. There was things that they couldnt aford frm the americans but it became a national industry.
In brazil the products as in for skateboards are very expensive.Reason being is because the government is very protective of small firms and trademarks.you have to pay tax which is preety expensive and they came out making alot of things that has to do with skateboearding like as in shoes shirts wheels and alot of other things and i think thats what got skateboarding popular.
juan martinez
The marketing research helps connect consumers because the company understand. Marketing research can be alot of things that let the company know what the customers are feeling like a survey which ae very popular. Also the companies have to research what areas skateboarding is popular in and what age group gender likes it. Once they do this then they can efficently run a productive campaign and gain customers.
When a company knows about thier customers, they have an idea of what their needs and wants are becasu ethey have done research on them. Once you know what your customers want you can improve your product to satisfy their needs to promote better sales. Then your consumers will be happy and loyal to your company. Alexandra Smith
People in Brazil started out by making their own skateboareds with roller skate trucks and wheels. So Brazilians government know that they need and want skateboards. They were insipired by Americans product. When alot of customers needs and wants a product in Brazil ( or any other popular countries) they will try to make the goods.
The more the customers needs a products or goods, there motivations and needs will try to insipire other people and government and most of the time will try to get the products or goods because the more people who needs the products or goods, the popular the sport will be.
- Maria Rouhollah
For the marketing reserach process they need to find what people want. They have to find out who skateboards and what they like. They have to research what the people like an also what they need. If they do not do that then the sales will not be good. They have to make sure that they are targeting the right crowd.
The knowledge regarding a customer's motivation to buy and value system can help in determining needs by seeing how many people want it. If it is something that people want and need people will pay more for it. If the demand is up so will the price. If not alot of people want it then the cost will go down.
Lisa Watts
For the marketing research process they need to find out what people want and find out who uses their product to skateboard. They need to know what they need in order to make it work. If they dont do all the research process then the sales will not be good. They need to make sure that they target the right people instead of getting the wrong ones.
The knowledge regarding a customer's motivation to buy and value system can help in determining needs by seeing how many people want it. If it is something that people want and need then the people will pay more for it just to obtain it. They'll do anything to get it and then people wanting it will make others want it. Alot of people having an object everyone wants helps alot.
Iris Trejo
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