Market Research and Brand Values
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Market Research
Market research is the process of collecting and analyzing data about consumers, their needs, and preferences. This information can be used by businesses to make informed decisions about their products, services, marketing, and advertising.
In this project, we can see a competitor report gathering and analyzing data for an e-commerce business that sells bath towels. This data will include information for three similar e-commerce businesses with information such as types of products, content, and marketing strategy, as well as customer service policies.
You can view the competitor research here:
Brand Values
A company’s values are the core beliefs that guide its actions and decisions. These values are what the company stands for and what it cares about. They are reflected in the brand identity, which is how the company is perceived by its customers. Customers want to connect with companies that share their values because it makes them feel like the company understands and cares about them.
Here, we can see Bath EcoShop’s brand values, after reviewing this brainstorm session:
Five main values of Bath EcoShop:
- Integrity
- Dependability
- Environmentalism
- Making a difference
- Passion for nature
How can Bath EcoShop brand can demonstrate its values to customers through its giving program?
- They can choose to donate a percentage of their profits to a nonprofit organization. This means that the amount of money donated will vary depending on the company’s profits.
- Choose a specific nonprofit organization, that matches their set values, to donate a set amount of money for each sale.
How can Bath EcoShop brand demonstrate its values to customers through the content on its website and/or social media accounts?
- To be transparent about the eco-friendliness of their products on their FAQ page. By being transparent about the eco-friendliness of their products, Bath EcoShop can build trust with customers and show a commitment to sustainability. This can lead to increased sales and loyalty, as well as a positive impact on the environment.
- Educate their customers about other ways they can help the environment by publishing articles about these topics on their blog and posting about them on social media, that way clients can make informed choices about their own environmental impact. This can lead to a more sustainable future for everyone.