FOR JOHN CANTHAR ONLY!

Business Research Project Part 2

Tamicka Byrd, Yukia Green, Mohammad Tahir, Maurice Windom

QNT/561

September 8, 2014

Dr. Chris Whitehead

Business Research Project Part 2

To ensure we have properly evaluated the best approach to answering the research question previously developed for Pear, Inc., we have performed a literary review. We reviewed a variety of literary works to ensure that we are asking the most effective research question possible, as well as solid hypothesis statements and variables.

Yukia’s Summaries

One company has developed a method of tracking how consumers are spending their money in real time. This process utilizes social media sources to predict the company’s future earnings and market shares. After some evaluation, it is believed that this tool is better than Wall Street forecasts (Carter, 2011).

A random telephone interview survey taken of adults 18 and over in the U.S. concluded that consumers intend to spend more in November than they estimated they would spend in previous months. In addition, this allowed for a prediction in sales increase from past years (Saad, 2011).

A different work stated that there were mixed projections for holiday spending. A positive outlook on sales comes from the typical holiday spending but the negative outlook comes from the high unemployment rate, wavering stock market, and high consumer prices (Friedman, 2011).

Mohammad’s Summaries

Consumers have diverse opinions when the product is a really new product (Hoeffler, 2003) as opposed to new release or an upgrade, which have few perceived added benefits (Dahl & Hoeffler, 2004). A company can achieve specific benefits when the product design has elements that enhance profitability, performance, productivity, or result in cost reductions. This in turn engenders customer satisfaction and loyalty to the brand (Gemser, Jacobs, & Cate, 2006).

Successful market research, planning, and testing are critical in stimulating information regarding customers, and the efficiency of marketing efforts at the time of the product launch (Di Benedetto, 1999). Quantitative techniques are beneficial in recognizing the trends and relationships. It helps to understand the impact of product launch proficiency, product advantage and market orientation on new product.

According to a market study (forbes.com) the company (Apple Inc.,) is likely to have had a record fourth quarter on strong sales of iPhones and iPads during the holiday season. The main objective of this work consists of analyzing the influence of the tactical launch decisions on new product performance. However, it is more possible to fail if the new product is marketed using an individual brand, penetration prices, push communication strategies and less expenditure on this concept than the competitors.

Maurice’s Summaries

If wages do not increase it can be a struggle among households as they realize pressures to spend on new technology. According to an article in Bond Buyer, Consumer spending could struggle in an environment where wages don't accelerate, particularly if inflation starts to move up (Enenajor, 2014). This comes from an economist at Bank of America, Corporation in New York.

One might deduct that consumer spending during holiday seasons will continue to rise even though revenues have not increased in the household. Consumer spending in the United States reached an all-time high of 10910.40 USD Billion in the second quarter of 2014 (2014).

Although consumer spending might be up, the findings are not conclusive. According to Mastercard data cited by the Wall Street Journal, retailers did spend more but it may be because retailers lowered prices and offered discounts which raised flags from observers monitoring the economy (Brustein, 2013).

Tamicka’s Summaries

Pears Inc sometimes develop sample plans that represent the collection of data that have the overall population that includes the selection of research approaches. After Pear Inc. develops the plans, the company contacts participants by communicating on relevant collection information that is also a par requirement. Finally the data is analyzed and will be then presented or disseminated. These findings will be used to make decisions (Kotler, 2003).

It is known that Pear Inc. products are charged higher in the technology industry. China is one of the many countries that Pear Inc. is trying to receive access due to high prices and other problems that are may be detrimental of the plans to expand in China (Worth, 2013).

Single choice and multiple choices are options on surveys on the Likert scale questionnaire. The Likert-style questionnaire has been structured to have a consistent answer profile, ranging from strongly agree to strongly disagree to improve accuracy of response (Cooper, 2011).

Conclusion

Keeping in line with our initial research question, hypothesis statements and variables, the projected outcome from the experimental study is to discover a relationship between the independent and dependent variable. Our research study results suggest that consumer holiday spending this year will likely rise. The key is to be proactive remember that sales are priority.

References

Brustein, J. (December 26, 2013). Bloomberg Business Week. Holiday Retail Sales for 2013 Are Weaker Than They Look. Retrieved from: http://www.businessweek.com/articles

Carter, M. (2011). Fayetteville firm tracks consumer spending. Arkansas Business, 28(49), 29. Retrieved from http://search.proquest.com/docview/916721262?accountid=458

Cooper, D.R. (2011). Business Research Methods. New York, NY: McGraw-Hill

Enenajor, E. (2014). Yellen Spending Recipe Lacking Key Ingredient: Bigger Wage Gains. The Bond Buyer. ISSN 0732-0469, 06/30/2014, Volume 1, Issue 34134.

Friedman, M. (2011). Projections mixed for holiday retail results. Arkansas Business, 28(42), 1. Retrieved from http://search.proquest.com/docview/902555663?accountid=458

Kothler, P. (2003). Marketing Management (11th ed.). Upper Saddle River, NJ: Pearson Education, Inc. Prentice Hall.

Saad, L. (2011, November 15). Consumers' Holiday Spending Intentions Perk Up in November; Average $764 consumers say they'll spend is highest November reading since 2007. Gallup Poll News Service 15 Nov. 2011.

No Author given. (2014). United States Customer Spending. Retrieved from: http://www.tradingeconomics.com/united-states/consumer-spending

Worth, D. (2013, October). Retrieved November 2013, from v3.co.uk:http://www.v3.co.uk

Ann Ledwith, Michele O'Dwyer, (2008) "Product launch, product advantage and market orientation in SMEs", Journal of Small Business and Enterprise Development, Vol. 15 Iss: 1, pp.96 – 110. Retrieved from:

http://www.emeraldinsight.com.ezproxy.apollolibrary.com/doi/full/10.1108/14626000810850865

Emílio J.M. Arruda-Filhoa, Mark M. Lennonb. International Journal of Information Management- Volume 31, Issue 6, December 2011, Pages 524–532. Retrieved from:

http://www.sciencedirect.com.ezproxy.apollolibrary.com/science/article/pii/S0268401211000673

Ana Garrido, Rubio, Yolanda Polo, Redondo, (2005) "Tactical launch decisions: influence on innovation success/failure", Journal of Product & Brand Management, Vol. 14 Iss: 1, pp.29 – 38. Retrieved from:

http://www.emeraldinsight.com.ezproxy.apollolibrary.com/doi/abs/10.1108/10610420510583725