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Research Plan
The president of a women's clothing store chain targeting 25 to 40 year old working professionals is concerned about a four-year trend of declining profits. The stores have been characterized as rather conservative over the years with respect to their product line, store décor, and advertising. They have consistently avoided trendy clothes, for example. Their market is now becoming extremely competitive because several aggressive fashion stores are expanding and aiming at the young, fashion-conscious buyer. As a result of this competition, and the disappointing profit trend, the president is considering making the product line appear less conservative and more oriented toward the young buyer. Before making such a risky change, the president feels it to be prudent to conduct some marketing research to learn the exact status of his chain.
Discussion 1: What should be the research purpose? Compose a set of three research questions that would be helpful and justify them. Would you use primary or secondary sources, and why? Who would perform this research? What ethical considerations should be kept in mind?
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