Ensayo

Exploratory research

1. Brief description of the research objective

Determine whether Flora2000 should be targeting the high-end consumer in the US or if it should target other segments. Thiswill provide us insights as to how to target & acquire this luxury market or will help us make a recommendation on other segments to target in the USA

2. Describe your research approach
* Wehad a three (four?) pronged approach:
* 1st - qualitative research - focus group - to try to understand why & when (what occasions) & how people buy flowers... we also tried tounderstand what people’s perception of “premium” flowers would be
* 2nd - qualitative research - in-depth interviews - to try to understand flower purchasing behavior & what drives that behavior(values associated with buying flowers) & tried to understand what would entail a “premium” flower purchase
* 3rd - secondary data - used to estimate overall size of the flower retailmarket, understand who the main players are in the online flower market, help understand industry profitability
* 4th - FLORA2000 DATA IF REHAN SENDS IT TO US
* The findings will help clarifyour research objective... should Flora2000 target the luxury market? if so, how to target & acquire? is Flora2000 positioning itself correctly? If Flora2000 doesn’t target the luxury consumer, whoshould they target? this research will help us draw hypothesis about other market segments

3. Identify the sources of your secondary data
* Yahoo Finance → key financial data of competitors* aboutflowers.com → info on the industry
* hoovers → info on the industry
* web page of each online competitor (1800 flowers, etc...)
* American floral endowment → Info on who the bigonline players are considered to be by industry experts

4. Describe the qualitative research that you conducted
* Focus Groups - We selected a small group of people (recruited 9 people and...