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Research and Decision Making Assignment - Essay Example

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The decision making strategies that Coffee Time should be tailored according to the evolving hypercompetitive business environment in the Indian market. It is recommended that the business organization takes an outside in perspective that is, become market driven by identifying the specific needs and wants of its consumers and tailoring its market after these factors (Kotler 2002)…
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Research and Decision Making Assignment
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Running Head: RESEARCH AND DECISION MAKING ASSIGNMENT Research and Decision Making Assignment in APA Style by University
The decision making strategies that Coffee Time should be tailored according to the evolving hypercompetitive business environment in the Indian market. It is recommended that the business organization takes an outside in perspective that is, become market driven by identifying the specific needs and wants of its consumers and tailoring its market after these factors (Kotler 2002). It is illogical for the company to find a market for its product but to create a product to its market.
Thus, the next step that the company should take is identifying its target market and studying its needs. Coffee Time should be able to pinpoint a specific market where it wants to focus on. Recognizing the growing income in India through the booming of business process outsourcing industry which requires worker to work at night, the company can opt to cater to call center agents who need coffee in during their shifts (India 2008). As coffee is marketed as a stimulant because of its caffeine content, Coffee Time can market itself as the primary choice for people who want to stay awake and energetic amidst the stress of being up all night. For this, the company should conduct its own market research analyzing the demographic, lifestyle, and culture of this particular group. Demographics should primarily look at income and age.
Lastly, the company can succeed by strategically modifying its product offerings for its target market. It should be noted that India should be treated as a market apart from its operations abroad. Thus, the product should be localized according to the researched preference of the customer.
References
India: Business Process Outsourcing Witness Phenomenal Growth 2008, Retrieved 15 February 2008, from http://www.fibre2fashion.com/news/textile-news/newsdetails.aspxnews_id=50119
Kotler, P 2002, Marketing Management, Prentice Hall: New Jersey Read More
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