Tea Building Research Essay

2471 words - 10 pages

Week 5 Learning Team; Conduct Research Part I, II, and III
RES/351
April 22, 2013

Week 5 Learning Team; Conduct Research Part I, II, and III

Introduction
Best Buy is one of America’s most recognized stores, but may be the last in a dying breed of brick and mortar electronic retailers. Technology is the product which Best Buy built its products on (smart phones, tablets, laptops, computers, navigation systems, automobile sound systems, large screen televisions, wireless connections), but may also be one of the reasons the company is restructuring. “Best Buy Co., Inc. today confirmed that it has, as part of its Renew Blue transformation efforts, eliminated approximately ...view middle of the document...

This also increases traffic through e-commerce for Best Buy by re-establishing itself as the electronic company of choice. Best buy’s partnership with various cell phone companies shows the significance of importance Best Buy places on growing its cell phone department. Cell phone sales of any electronic store can have quite an impact on the success of that store in the modern world; the scope and magnitude of the impact is crucial to Best Buys’ success.. Through research questions, hypothesis development, variable acknowledgement, a research design, and instruments for data analysis Best Buy will be able to build upon its current customer base, and influence new customers to its business.

Research Question, Hypothesis, and Variables
Research Questions
Consumer questions:
• What factors determine “value” for the consumers in cell phone service?
• Would consumers refer friends and family to Best Buy?
• What services would they like to see added to their current cell phone service?
• Is the customer experiencing any issue with their current cell phone service?
• How often does the average consumer change cell phones?
• How often does the average consumer change cell phone providers?
Non-consumer questions;
• How can Best Buy compete with various cell phone provider packaged pricing?
• How can Best Buy market to cell phone consumers to gain interest in what Best Buy offers?
Hypothesis
How Best Buy intends to build its reputation as a cell phone provider may be too broad of a question to be answered. A list of questions will help determine the options consumers seek in cell phone providers, and how Best Buy compares. The hypothesis is… if Best Buy can gain information on what drives consumers to select particular cell phone hardware and services, can compete with pricing strategies, and offers all of this through knowledgeable sales staff, Best Buy can become the cell phone provider of choice through product (hardware and service) selection. Understanding what the competition offers also gives Best Buy a competitive edge to build customer loyalty.
Variables
The cell phone industry is widespread, competitive, and growing. Best Buy must use its partnership with various cell phone manufacturers, and providers to its advantage to compete against the various companies it partners with (AT&T, Verizon, T-Mobile, Sprint, and Cricket). Pricing can be a variable which comes into play. While Best Buy may offer the physical phone, they do not offer phone service (although they do sign people up with the various service providers in-house).
Recently, Best Buy has ended a partnership with a company based in London, England. “The electronics retailer Best Buy agreed on Monday to pay $1.3 billion for full ownership of a fast-growing American cell phone joint venture from its British partner, the Carphone Warehouse Group” (Scott, 2011). The joint...

Other Papers Like Tea Building Research

Operation Management Essay

4552 words - 19 pages campaigns for tea-max......................................................................... 15 Sales manager’s role: ................................................................................................ 16 Marketing manager’s role ......................................................................................... 16 SOLUTION AND RECOMMENDATIONS ...................................................................... 16 4.7.1

China And Starbucks Essay

1676 words - 7 pages Abstract The following report will discuss the impact of Starbucks initiative to capitalize their brand of coffee on China, which is rich in history of being tea drinking country. China has a massive consumer market with a population of around 1.3 billion (Hawkins, 2010). The culture of the Chinese has a strong tradition of consuming tea, as it is still the number one beverage in China which the Chinese have enjoyed tea for millennia (Hawkins

Hum 111 Midterm

1413 words - 6 pages information gathered on that historic event before anything was decided I am positive that research was done and bounced off many minds before any action was carried out. 8. Considering what you have learned about the Boston Tea Party, Samuel Adams, and Thomas Hutchinson, apply your creativity to describe what could have been done proactively to avoid the incident. Thomas Hutchinson suggested that the money repaid for the cost of the Louisburg

Green Mountain Coffee Roasters-Marketing Plan Erobinson

3570 words - 15 pages Green Mountain Coffee Roasters, Inc. (GMCR) Prepared For Gary L. Payne, MBA Sam Houston State University Prepared By Eric Robinson Fall Semester 2013 Part I History The coffee and tea manufacturing industry has become a $70 billion annual global sales commodity (First Research, Industry Overview). Business continues to boom and coffee manufacturers are able to broaden their revenues by reaching new segments and geographic areas

Caffeine Is Not As Addictive As Scheduled Narcotics

2199 words - 9 pages chemical stimulant. Other research claims that the caffeine addiction isn’t so much of an addiction at all. Some claim that it is simply habitual behavior. Humans are very habitual in nature and prefer to do things in routines. So the argument arises that our morning coffee rituals are simply based on the fact that is routine for us. Most people tend to consume caffeinated beverages in the mornings whether it is coffee or tea. People

Hul-Info & Strategies

1228 words - 5 pages , toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers, the Company is a part of the everyday life of millions of consumers across India. Its portfolio includes leading household brands such as Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair & Lovely, Pond’s, Vaseline, Lakmé, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall’s and Pureit. Fig. Major Brands

Sales Management

1214 words - 5 pages What is Sales? Sales is what you do and say during the one moment your product or service is being purchased. It's confirming the payment options. Sales is a one time process (means just selling the product to the customer). It's converting an inquiry or lead into a contract or shipment. Sales is not market research, business development or advertising. Pre-sales, Sales and Post-sales Pre-sales is a process or a set of activities normally

Social Eqitee

645 words - 3 pages . Afghans also place their hands over their hearts and nod slightly. When talking, they always talk about things like a person's health, business, family, etc. • Gift giving a. Choose gift: In Afghanistan, first rule of gift giving is to never give alcohol, unless you know from first hand experience that the receiver drinks you may do so. If you go to someone's house for tea for the first time, it is appropriate to bring a small gift. If

Landfills

2236 words - 9 pages decomposing organic is also prevented when one composts. (VT Waste) Composting also allows for better use of organic materials. Composting is done either indoors or outdoors. Bins and barrels are commonly used, even building a cedar box is an option. You can use the vermicomposting method, in which you would use worms to help with the decomposing process of your organics. Red wiggler worms are most usually used in a bin with your compost. The worms

Starbucks: Delivering Customer Service

2305 words - 10 pages make the coffee shop a "third place" beside home and work. * Starbucks operates 16,635 stores in 50 different countries. 11,068 of them are located in U.S. The company's product lines are the following: * Beverages (coffee – juice – tea) * Merchandises (mugs..) * Whole coffee beans * Pastries Starbucks strategy: * providing high quality products * Create profitability * Maximizing market penetration

Operation Production Managment

2324 words - 10 pages C.C PLACES 0-100 Smoky Indoor Air 0-250 Office Building With Central Heating / Air Conditioning 250-500 Normal Indoor Air( Windows Open) 500-1000 Urban Air In Average Industrial City 2000-3000 Country Air Medication With the help of bath salt crystals, various ailments can be treated such as arthritis, aches, respiratory problems and muscles spasms as well as insomnia. If you are mentally or physically tired, a crystal bath salt is

Related Essays

Indian Tea Case Study

1690 words - 7 pages there is black tea which is fermented. All types of tea come from the same green plant known as the camellia sinensis. In 1954 the Indian government created the tea board to regulate the tea industry since it played such a crucial role to the economy. The board offers various incentives to protect tea workers such as welfare arrangements. It also assists with marketing, research and development. Interestingly, India is the world’s largest consumer

Marketing Plan Essay

4964 words - 20 pages . Target Markets 5. Positioning 6. Strategies 7. Marketing Mix 8. Marketing Research 4. Controls 1. Implementation 2. Marketing Organization 3. Contingency Planning 5. Conclusion “The tea party is a spa for the soul. You leave your cares and work behind. Busy people forget their business. Your stress melts away, your senses awaken…” 1. Executive Summary The Mystic

Report On Ib

1983 words - 8 pages year 2000, They acquired virgin lands which had never before been used for cultivation. After extensive research and consultation with the Bangladesh Tea Board, plantation began on August 6, 2000. KK Tea is the first organic tea substantially produced in Bangladesh, and the first to be certified by international certifying authorities. KK Tea is also the only single-estate premium blend tea available to Bangladeshi consumers, from the first and

Tata Global Beverages Essay

3611 words - 15 pages was established in 1987 as Tata Tea Inc which was later renamed as Tata Global Beverages US Holdings Inc. In 1992, Tata Tetley joint venture was formed and in 1995 Tata Tea attempts to buy Tetley Tea. Tata Tea’s market share grew from 3% to 21% of the Indian market, while the market size for branded tea grew from 125 million kg to 280 million kg. Tata Tea spent about US$1 million per year on R&D. Its research in agronomy had led to quality and