Determine where it stands in fireplace and patio industry

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Reference no: EM132209275

After working hard at the same job for nearly fifty years, Steven James III has finally retired from his position as president and CEO of James & Sons Fireplace & Patio. Reluctantly, his son Steven James IV, who has also worked in the family business since graduating from college, has agreed to take his place at the helm of the nearly one-hundred-year-old company. Steven III knew that he wanted his oldest son to run James & Sons, but convincing him to take the job took a lot of work. Steven IV, who majored in marketing in college, told his father that if he were to take over, he would be taking the company in a different direction—and upon doing so, his first act of business would be a comprehensive market research study to determine the best direction.

1) How would a market research study help James & Sons determine where it stands in the fireplace and patio industry?

2) How would the market research study that Steven IV is considering the best approach each of the following subjects?

a) Environmental factors

b) Customer attitudes, behaviors, and perceptions

c) Product research

d) Marketing, advertising, and promotion research

e) Corporate research

Reference no: EM132209275

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