Preliminary Market Research Findings for Future Marketing Strategy Recommendations
According MarketResearch.com Consumer Goods article Housewares Market Research Reports, the housewares industry is composed of various companies who manufacture and produce a variety or household goods and products. These houseware items are objects of personal property that are placed in various rooms throughout the household for use by occupants of the house. The housewares industry is broken down into three sub-groups: appliances, tools, and miscellaneous housewares; consumer electronics; and home furnishings. •
Who is GGI’s competition (related to Housewares)?
GGI’s competitions related to Housewares are Branded or Famous Stores (Discount Stores), Specialized Stores and Home Appliance Stores. •
How can GGI Housewares differentiate themselves?
GGI Housewares can differentiate themselves by demonstrating leadership skills, using effective communication, taking care of price, quality, performance, durability, and customer support. In addition, GGI Housewares can differentiate themselves through Commercial Opportunities, using all kind of important facts that touch others, for example “most entrepreneurs have an interesting and highly personal story behind their decision to launch their business, but many forget to share that story with customers. A good story may trigger customers to feel positive towards the brand and the motivation to purchase; Attract and maintain the attention of consumers by stimulating all their senses. It is through this that a complete experience can be created which will translate into an unforgettable one that will have a longer-lasting effect than any advertising campaigns or jingles; Packaging upgrades can make a big difference in creating a fun purchasing experience. Explore ways that can improve the 'box-opening' experience. Think about Apple's box-opening experience and how consumers get excited when they open the boxes of their newly...
References: Consumer Expenditure Survey, U.S. Bureau of Labor Statistics, September, 2011.Retrieved from http://www.bls.gov/cex/2010/share/age.pdf
Euromonitor International. (2011, January 19). Why are savvy brands enriching the purchasing feeling for their consumers? Retrieved from http://blog.euromonitor.com/housewares-and-home-furnishings/
Goliath – Business Knowledge on Demand. (2006, March 1). What’s cooking with housewares. Retrieved from http://goliath.ecnext.com/coms2/gi_0199- 5400981/What-s-cooking-with-housewares.html
MarketResearch.com. (2011). Consumer Goods. Housewares Market Research Reports. Retrieved from http://www.marketresearch.com/Consumer-Goods-c1596/Consumer-Goods-Retailing-c80/Housewares-c611/
Morin, R. and Taylor P. (2009, April 23). Luxury or Necessity? The Public Makes a U-Turn. Pew Research Center Publications. Retrieved from http://pewresearch.org/pubs/1199/more-items-seen-as-luxury-not-necessity
U.S. Census Bureau = American Fact Finder. (2010, December 3). 2007 Economic Census. Sector 44: Retail Trade: Subject Series – Misc Subjects: Sales by Class of Customer for the United States: 2007. Retrieved from factfinder.census.gov/servlet/IBQTable?_bm=y=&-ds_name=EC0744SXSB2&-NAICS2007=442299
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