Statistics and Business Research Proposal

Question: Discuss about theStatistics and Business Research Proposal. Answer: Introduction This research proposal deals with the importance of the effective marketing communication strategy on the up-gradation of the brand of the firm. Effective marketing communisation leads to the formation of true value to the customer and indirectly for the respective firm. It has been seen that high progressive value of the brand comes from the healthy relationship between the customer and the brand of the respective firm (Keller, et al., 2011). The loyalty of any brand can be determined with the help of four Ps of the customer. These Ps are Place Price Product Promotion (various dissemination networks) Any respective firm can attain the brand loyalty level by increasing the customer satisfaction level and degree of consumption and purchasing of the product on continuous basis (Keller, et al., 2011). It is observed that the cost spend on marketing of a brand to attract the new customer is much higher than to invest in increasing the brand loyalty of the existing customer. Higher the brand value of the respective firm for the customer, higher would be the obstruction for the competitors (Thaichon Quach, 2013). Research Topic and Aim The importance of the effective marketing communication is based on the relation of the customer and brand reliability. The selected firm for this research is General Mills and the product is Betty Crocker Cake Mix. In this study, the concerned researcher will also explain the various features of the customer i.e. perceptual, emotion based on the brand loyalty on the social life of the custom. This is significant as the communication method of any firm is considered the best possible way to create a value to the brand. Hence, the aim is to find the respective effective way to enhance the value of the brand. Background Study for the Research Work The brand loyalty directly affects the overall growth of the firm. In this research work, the main product of General Mills i.e. Betty Crocker Cake Mix is considered as the essential product that enhances the growth value of the firm. Marketing communication is set of all the essential elements of the firm that can directly help to enhance the brand loyalty for the customer. Various promotion activities have been performed using various modes of advertisement, social media, sales and communal interactions. B2C (business to customer) relation (Shimp and Andrews, 2013). A conventional product Betty Crocker Cake Mix of General Mills has been adopted for the research work. In this case also, General Mills have selected B2C strategy for marketing communication. It has been observed that the advertising of the instant cake mix product of the General Mills has highly attracted the housewives in order to save their time for cake making. In the research study, the researcher also determines the effects of the effective marketing strategy on the enhancement of the brand loyalty in order to maintain customers for long run (Boyd, 2014). Research Questions What are the impacts of the effective marketing communication on the customer based on the underlying brand loyalty? What is the relationship between the brand loyalty and growth value of General Mills with respect to Betty Crocker Cake Mix? What are the promotional factors in marketing communication which affects the loyalty of customers towards the brand of General Mills? Research Methodology and Design There are three major types of research design that can be used for the research study (Hillier, 2006). Explanatory research design Exploratory research design Descriptive research design Descriptive Research Design Descriptive research study has been selected for this research study, because it is considered as the more reliable research design with accurate result in well organised manner (Hastie, Tibshirani Friedman, 2001). The concerned researcher would use various tools and techniques in order to gather the information and data about preferment of the Betty Crocker Cake Mix of General Mills. It is necessary to select a targeted population according to the market structure. Qualitative Method A questionnaire has been created to conduct the data collection process. For this framework a fieldwork procedure has been selected for information Conduct an advertisement in order to express that that how a mother instantly prepares a cake for her children with the help of Betty Crocker Cake Mix. This technique helps to determine the complete information about the perception and views of the customers about the research product. Here, the independent variable is advertisement for the product and the dependent variable is the attitude and opinion of targeted customers towards the selected product which can provide an indication for the brand loyalty and value creation. Research Process It involves the two major research process steps in order to find the essential information Determination of the social contacts of the selected brand product with the targeted customers Conducting various interview sessions with the customers for information Questionnaire sessions for the essential feedbacks and suggestions Data Collection Random sampling method is selected for the specified population, which includes housewives and small scale cake makers. Sample size is selected as fifty One to one interview sessions followed by questionnaires sessions Primary data collection method is selected for current figures, which involves semi- structured interview procedure Secondary data collection method is also used to find the previous collected data from several sources i.e. websites, newspaper, journals and books. It is essential that the adopted data must be verified with the concerned resources (Hillier, 2006). Expected Outcomes of the Research The expected outcomes will provide an overview about the brand position and value of the product i.e. Betty Crocker Cake Mix position in the market and various related factors, which would affect the growth value of General Mills. The major expected result will be the relationship and importance of suitable mode of marketing communication in order to enhance the brand loyalty. Since, the brand loyalty directly affects the abundance of the firm, and also it is having a relationship with the physical and emotional terms of the customer, thus, it is the major concern for the research work. Conclusion Therefore, it can be concluded from the above research study that a loyal brand can enhance the growth value of the firm. Brand loyalty and effective marketing communication technique can attract the customers, which can affect the overall growth of the firm in terms of the productivity and profitability. References Ang, L, 2014.Principles of integrated marketing communications. Cambridge University Press, Cambridge Boyd, D 2014, A Creativity Lesson From Betty Crocker. Psychology Today. Available online fromhttps://www.psychologytoday.com/blog/inside-the-box/201401/creativity-lesson-betty-crocker [Accessed on 22nd August, 2016]. Cake/Culture (2010).Women and Cake: The Complex Figure of Betty Crocker. Available online from https://cakeandculture.wordpress.com/2010/02/15/women-and-cake-the-complex-figure-of-betty-crocker/ [Accessed on 22nd August, 2016]. Hastie, T, Tibshirani, R Friedman, J 2001, The Elements of Statistical Learning, Springer Publications, New York Hillier, F 2006, Introduction to Operations Research, McGraw Hill Publications, New York Keller, K, Parameswaran, M and Jacob, I 2011, Strategic brand management, Pearson, New Delhi Shimp, T Andrews, JC 2013, Advertising promotion and other aspects of integrated marketing communications. Cengage Learning, New York Thaichon, P Quach, T 2013, Integrated marketing communications and their influences on brand loyalty: A Thai perspective, International Journal of Studies in Thai Business, Society and Culture, Vol. 2 No. 1, pp.55-79.