Market Research for CDR-KING COMPANY PDF

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Summary

This is for CDR-KING company research because cdr king is going down. This can help the company to improve and get better sales again....

Description

Members: Leano, Jae Luis Florentino, Lebron Ballesteros, Airish MKT1101 - MODULE NO.2 ASSIGNMENT – Designing of Marketing Research (Phase II)

Existing Knowledge & Background CDR-KING started in Quiapo, Manila in 1997. It was founded by Nicholson Santos and Henry Ngo. It first started with a small store in Paterno Street that initially sold CD or DVDs in the early 2000. They sell very competitively priced CD that is why CDR-KING became a hit and was known around the country. At its peak, CDR-KING reached about 500 branches compared to big fast food chains like Mang Inasal only had 450 branches. As time goes by technology changes and CDR-KING added products to their line, like other electronics and gadgets.

Primary Data The researchers will conduct a survey to gather first hand data. The researchers will use primary data to be used in this research because it will be more unique and more timely in this given situation.

Secondary Data The researchers will gather information from articles and other past research to gather informations that concerns the company’s products or service.

Statement of the Problem The statement of the problem for the study shows various factors that could affect the consumer buying behavior towards:

1.) How will the CDR-KING improve their products and service to gain more customers? 2.) What must CDR-KING add to their products to gain more customers? 3.) What are the key factors to gain back the name of the company in order to again be the number one seller of electronics in the country?

Objectives The researchers want to identify what went wrong in the CDR-KING company and what are the right strategies in order to gain back their name in the competition. And to solve problems in terms of product quality, advertising, and customer service quality. The following are the objectives of the study; 1.) To improve in their consistency of their product quality. 2.) To find other marketing strategies that will be match in the current events and to maximize their potential consumers. 3.) To add products to more maximize their potential consumers. Theoretical and Conceptual Framework: A. Segmentation CDR-KING was one of the biggest and leading company in selling electronics. They have a wide variety of products from chargers to printers and more. In terms of demographics, the primary target market ranges from ages (18-30) for the secondary market it ranges from (30-60), educational level (All levels), gender (all genders), Citizenship (Filipino), Income (Low-Mid). In terms of geographic CDR-KING are located widespread across the philippines but with only a few more branches their customers are limited (NCR, Philippines). In terms of psychographic, the social class is (Low-Mid Class) those who want low prices accessories and caters low income earners because of its cheap price.

B. Market Potential When CDR-KING reached its peek with almost 500 branches in the country, it can generate more than $5million dollars annually.

C. Distribution Channels CDR-KING company buys their products through wholesale. The company buys wholesale items from Chinese businessmen or taiwanese. They buy cheap products to resell them. Afterwards it will be delivered from their warehouse all the way to consumers.

D. Marketing Mix In terms of marketing mix, CDR-KING products are electronics with a wide variety of selection to choose from. It currently has less than 10 branches nationwide. Also, their products are very affordable in terms of competitors inside malls. CDR-KING promotes their brand through facebook page, and websites.

E. Business Model Canvas (BMC)

Key Partners

Key Activities

 

 

SM MALLS



Other

Customer

Proposition

Relationship

Segments



Price



Cheap

Product

(affordabilit

(there

selling

y)

loyal



Students



General

are Public

customers)

Platform (marketing



Customer

Merchandi -sing

Suppliers

Value



One shop

)

stop 

Userfriendly



Families



People

company malls.

Key Resources

Channels 

Wide

with

Variety 

Physical

of 

Branch stores

products

stores 

Employees



Suppliers



Offers

 are



Employees



People

Social media (Facebook,

products that

gadgets

websites)

easy to use.

who wants to

buy

easily. (One stop shop) Cost Structure



Occupancy/rental

Revenue Streams and

other



Customers from store branches.

operating expenses 

Employee wage

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Items from suppliers

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Rebranding of products

Intended Outcomes The intended outcome of this research is, bring CDR-KING back in the market, Increase sales and consumers. Also to find the problem in the quality of products that are said to be very low quality. This research will help CDR-KING company to boost their sales by finding the problems in the company and to achieve the desired income of CDR-KING.

References Branches of CD-r king in Quezon City, Metro Manila - yellow pages ph. Yellow Pages Philippines. (n.d.). Retrieved September 24, 2021, from https://www.yellowpages.ph/business/cd-r-king-62/branches. Caña, P. J. (1970, January 1). What happened to cd-r king? Esquiremag.ph. Retrieved September 24, 2021, from https://www.esquiremag.ph/money/industry/what-happened-to-cd-r-kinga00289-20201111-lfrm. Strategic marketing plan. prezi.com. (n.d.). Retrieved September 24, 2021, from https://prezi.com/jnalwfn9dnof/strategic-marketing-plan/. With the rise of e-commerce, is it also the end for our beloved cd-r king? InqPOP! (2021, June 2). Retrieved September 24, 2021, from https://pop.inquirer.net/85563/with-the-rise-of-ecommerce-is-it-also-the-end-for-our-beloved-cd-r-king....