Marketing Research Proposal for Film 4 You DVD Rental Store Paper

Marketing Proposal for Film 4 You DVD Rental Store - Research Paper Example The firm that is analyzed in the paper is Films 4 You Company limited is a regional company with headquarters in New York. Established in the year 1999 with strong market presence in provision of DVD rental services, Films 4 You Company Limited has a track record of distributing 500 DVD consumer rental per day representing a 5% share in the DVD rental business in New York economy. DVD rentals are specifically are a cherished service for all age groups especially for high school students, college students, teenagers, young adults and parents who choose the DVD rental services for entertainment purposes. Major competitors in the DVD rental business include upcoming rental stores, online rental providers and media houses that broadcast entertainment DVDs. Over the last three years, Films 4 You Ltd has experienced downward revenue from its business, perhaps reasons that can be hypothetically attributed to rapid surge of online rental provisions or inability of the company to meet the dyn amic and changing consumers buying behaviors when it comes to DVD rental. Similar pilot market studies have ranked online stores and inadequacy to meeting customer’s needs as to major factors that can be attributed to the decline in the sales revenue of the organization. Suggests that the introduction of internet has by far means changed the way businesses are conducted globally. Internet has played a significant role in the value chain from manufacturing, distribution and retail outlets. Merrilees further adds that the main sector affected by internet is perhaps the marketing aspect. Online marketing according to this research studies is composed of the basic P’s marketing just as in convectional marketing, (price, product, people and place) and perhaps the online marketing could poses competitive advantage since it adequately enhances and utilizes these four components in one place. (Ducoffe, 1996) On the other hand, Film 4 You suggests that another contributing fact or for the sales decline would be as a result of a shift in the consumer’s buying behavior. In pure competitive markets consumers vary in age, buying behavior, income, education, taste and many factors that play to inform consumer’s preferences. When classified, buyer buying behaviors are generally influenced by four major factors including; cultural, personal, psychological and social factors. This paper presents background analysis of the perceived factors that affect Film 4 You with their respective background study, proposed objectives of the study, statement of the problem, scope and limitation of the study, methodologies used and design of the research study and significance of the study. This paper analyses on consumer behavior and emergence of online marketing as important due to the immediate applicability in the global business economy. In addition, this research is of the specific opinion to evaluate which one the highlighted factors would be responsible for such observed business poor performance. Background information Online Marketing Marketing studies by (Merrilees, 2001)suggests that internet has revolutionized how organizations conduct their business worldwide. Its advent has seen a new shift in marketing paradigm around on improving the value chain along manufacturing and retail to end users creating a new pattern of retail distribution channel. (Cobanoglu, Ekinci, & Park, 2003) Ideally online marketing has seen such an increase and usage among consumers as a result of strong working trust among parties involved, building strong and working relationships and recognizing the fact that the customers work to define their rules of engagement. To this far, marketing has received so much benefit from internet. While using the basic convectional principles of marketing, the system has become much more preferred due to its effectiveness to enhance and correlate the P’s of marketing in much more efficient manner. (Rhee & Riggins, 1999)