Launching new products in the market is characterized with various challenges such as winning a market share, lack of the consumers’ confidence in the product being launched among others. A marketer should carry out a thorough research to study the marketing environment in which the product is going to be launched and develop the best marketing strategies to be applied when marketing the new product.
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The marketing research seeks to identify challenges that I am likely to encounter when I launch my product in the Chinese market. The research will also seek to identify the best marketing strategy to apply in order to market my new Italian restaurant in this new market. The marketing strategies will give me a strong base for my study on how to build a brand identity for my Italian restaurant as well as brand loyalty among the Chinese customers.
For any company to run successfully there must be a comprehensive understanding of the products that the restaurant will be dealing with and the market in which it will be in commission. The manufacturer’s attitudes will likely affect the consumers’ perceptions on the product and the services being offered. Clear market analysis will be vital. The study of the anticipated behavior of the competitors will determine the nature and forms of advertising campaigns that will be adopted. The brand will also be perceived as a representation of the corporate culture of the company. Therefore, the company must identify the current global trends in its daily activities e.g. environmental conservation. This will be reflected in the way they package, distribute and sell their products.
In addition, proper communication methods that entail advertising, social media and direct marketing must be adopted. Promotional forums such as personal selling, trade promotions and consumer promotions will create interactive forums that will popularize the products to the main customer segments.
The company management should also ensure that they enhance the creation of requisite brand focus through design of a logo for the business, clear mission and vision statements, corporate identity that will relay the real message of the brand to the public.
The marketing research is concerned with studying the marketing trends in the Chinese market. The study will involve studying the Chinese culture in terms of their perception of foreign products. The study will also be concerned with determining the trend of changes in taste and preference of the Chinese customers in order to come up with products that will suit the needs of potential customers. It will also focus on identifying the best strategies to build a brand identity and brand loyalty for my restaurant among the Chinese customers. Therefore, the main objective of this marketing research will be aimed at trying to determine the marketing strategies that will be relevant in marketing my Italian restaurant that I will be launching in China. It will also aim at determining how the strategy identified will be useful in building the brand’s identity and loyalty.