Marketing and Research Problems Essay Example | Topics and Well Written Essays - 500 words

Marketing and Research Problems - Essay Example The lack of experimental data and precise inputs represents a major research problem for the firm. The organization in theory could decipher the formula to create the new product. If this occurred a potential marketing problem the firm faces is that the new products might cannibalize other existing products the company offers its customers.† Product cannibalization occurs when a company decides to replace an existing product and introduce a new one in its place, regardless of its position in the market† (Komrinos, 2002). Another con is that the firm would have to spend a lot of money on research and development to introduce this product to market. The college faces a major problem associated with the inability of the organization to attract young talented college students. In the past the recruiting rate of the college was 90%, but now it has dipped to a troubling and alarming rate of only 25%. The fundamental source of the problem is the reputation and public image of the college. The academic regimen of the university became so stringent that students through word of mouth advertising hurt the reputation of the college. The public relations problem the college faces can be fixed, but the college has to be willing to be flexible in order to improve the reputation of the academic institution. The college has to make a decision on whether is willing to lower its academic requirements to attract more students into its campus. The college benefits the most when it has full tuition enrolment to fulfill the capacity of the campus. A research problem the college faces is to determine the appropriate primary research method to obtai n the information it needs. The use of questionnaires is a technique that can be very beneficial for this college. Chocoholic Candy Company faces the challenge of implementation of an expansion plan, while maintaining the same level of service it provided at the