Module 06 Assignment Directions

Your t-shirt business has achieved great success. Now that the company's executive leaders are considering expanding into foreign markets to sell additional t-shirts, you need to put up a presentation for them. The business must do market research to determine whether entering foreign markets would be lucrative before doing so. It's your responsibility to develop two concepts for market research for the global market.

1. Describe your t-shirt company.
2. Describe the t-shirt company success in the market you chose.
3. how the market research will impact the company's marketing strategy for global expansion? What are the benefits of market research when expanding into international markets?
4. Choose two market research options?
5. What are the two research options you've chosen?
6. What is the goal for each research option you selected?
7. What are the benefits to using each research method you've selected?
8. Briefly describe the process for each.

Note Reference:

T-shirt business You're Irreplaceable is based in Shakopee, Minnesota, and specializes in producing top-notch t-shirts. Our goal is to provide individuals with lovely and significant apparel that allows them to express themselves while both promoting awareness and treatment for mental illness. We make high-quality T-shirts. Our goal is to supply clothing that is not just fashionable but also meaningful, allowing consumers to express themselves while also helping to raise awareness and funds for mental health treatment.We will discuss both traditional and digital marketing strategies, as well as which one works best for our T-shirt business. We will also discuss how these strategies help our business. In addition, we will look at different methods for calculating our return on investment.

Since traditional media has been around the longest and is often referred to as offline media, it is known to work. As a result, marketers still use conventional media in their advertising campaigns. Newspapers are one of the classic marketing methods we use to advertise our T-shirt business. We use newspapers because it is a terrific method for people to learn about our company and goods. To market our T-shirts, we will distribute fliers and postcards to local companies and area youth organizations. Our goal is to generate interest in our brand and make our items known. We will track the number of sales we make directly through this marketing channel to decide its performance. As a conventional marketing medium, we also use radio advertising. Radio advertising helps us to reach a big and diversified audience while being cost-effective. We want to run advertisements on local radio stations to increase brand recognition and sales. We will track the number of sales we make directly through this marketing channel to find its performance. Newspapers are one of the more traditional marketing methods we employ to promote our T-shirt company. We feel that using newspapers to raise awareness of our business and products is an excellent strategy. We will distribute postcards and fliers to a range of neighborhood enterprises, including local shops and youth centers, to advertise our t-shirts. Our goal is to raise awareness of our products while also generating passion for our brand. The quantity of sales generated directly from that marketing channel will be the statistic we use to assess the marketing channel's success.Furthermore, radio advertising is one of our most usual marketing platforms. Radio advertising enables us to reach a diverse audience in an efficient and cost-effective manner. We intended to broadcast commercials on regional radio shows to increase consumer exposure to our brand and boost customer demand. The quantity of sales generated directly from that marketing channel will be the statistic we use to assess the marketing channel's success.

Even though broadcast and cable television account for 37.3% of all U.S. advertising, they have a low audience selectivity, high advertising clutter, and a prominent level of time-shifting competition. However, they also offer immediate message delivery, high message frequency, and the ability to repeat messages several times daily, all of which have a significant impact on spreading the word. It costs too much and will contact many more people than we have resources for at this point. Our target market is younger men in a small community in the city of Shakopee areas and family and friend who are supporting mental health awareness and people who are struggling to make a change in their life. Since we are trying to reach family a friends most people are connected through social media and if one person likes our teacher and posts about it than all his friends and family will see it and might want to get the T-shirt and the chain will start from there.

Digital media, often known as new, online, or non-traditional media, has quickly gained popularity and is now a key part of the marketing communication strategy. To reach our target market, we also use digital marketing methods. We employ social media marketing as a digital marketing platform. We want to generate compelling content and run advertisements on social media sites such as Instagram, Facebook, and Twitter. Our goal is to have a strong social media presence and increase revenues. We will track the number of sales we make directly through this marketing channel to find its performance. Email marketing is another digital marketing medium that we employ. To our client database, we want to send newsletters and promotional emails. Our mission is to increase client loyalty and sales. We will track the number of sales we make directly through this marketing channel to find its performance.

We also interact with our target demographic through various digital marketing methods. Social media marketing is one of the digital marketing methods we use. We want to generate material that will appeal to consumers and will advertise on social media sites such as Instagram, Facebook, and Twitter. Two of our primary goals are to have a strong social media presence and to increase sales. The quantity of sales generated directly from that marketing channel will be the statistic we use to assess the marketing channel's success. Email marketing is another one of the digital marketing methods that we employ. We want to send promotional emails and e-newsletters to our data-using clients soon. Our goal is to boost both client loyalty and sales. The quantity of sales generated directly from that marketing channel will be the statistic we use to assess the marketing channel's success.

Although social media has a considerably greater engagement rate than email marketing, practically all marketing professionals agreed on this. A study titled "Email Marketing vs. Social Media" found that if you have 1,000 email subscribers and send a message, 202 people are likely to open it and 33 people are likely to click on it. Even if it doesn't seem like much, if you have 1,000 Facebook friends and Twitter followers and send an update, perhaps 10 people will see it and three of them will click on it. If you keep doing this, however, our social media material will be shared by a few individuals with 20,000 followers. As a result, you were able to reach millions of people. They eventually attracted 100,000 followers who shared it once again. Our target audience consists of younger guys in a small community in the city of Shakopee, as well as family members and friends that support mental health awareness and those who are trying to alter their lives but are having trouble. Since most people are connected through social media and we are trying to reach family and friends, if one person likes our T-shirt and posts about it on his or her social media, all of his or her friends and family will see it and may want to purchase the T-shirt, and the chain will start from there.

Newspapers help our industry since they allow us to reach a big and diversified audience at a reasonable cost. Radio advertising helps our industry since it allows us to reach a big and diversified audience at a reasonable cost. Social media marketing is beneficial to our industry since it allows us to target a specific demographic with customized content and advertising. Email marketing is beneficial to our industry since it helps us to reach a broad and diversified audience in a cost-effective and efficient manner.One of the primary advantages that newspapers deliver to our industry is the capacity to reach a large and diversified audience in a cost-effective manner. Radio advertising is helpful to our sector since it allows us to interact with a big and diversified audience in an efficient and effective manner. Social media marketing may help our business since it allows us to target certain audiences with adverts and specialized content for those consumers. Email marketing helps our sector by allowing us to communicate with a wide and diversified audience in a cost-effective and efficient manner.

Journalism's purpose is to generate discussion about our company and make our items noticed. The purpose of radio advertising is to increase brand recognition and sales. Social media marketing's purpose is to have a strong social media presence and increase sales. The purpose of email marketing is to increase client loyalty and sales. The goal of employing newspapers is to generate enthusiasm for our brand and raise awareness of our items. The purpose of radio advertising is to increase customer brand recognition and product sales. The two primary aims of social media marketing are to prove a strong social media presence and to increase sales. The goal of email marketing is to deepen current client connections and boost sales.

We will track the number of sales we make directly through newspapers to find ROI. We will track the number of sales we make directly through radio advertising to figure out the ROI. We will track the number of sales we make directly through social media marketing to figure out our ROI. We'll track the number of sales generated directly through email marketing to figure out ROI. The profitability of our newspapers will be found by measuring the number of sales produced directly from that channel. When measuring the return on investment of radio advertising, we aggregate the data by tracking the amount of sales that come directly from this channel. The sales generated directly through this channel will be measured to offer a right evaluation of the return on investment for our social media marketing activities. Tracking the number of sales that come straight from this channel will allow us to calculate the ROI of our email marketing.

We'll be employing return on investment (ROI), which is computed by dividing a marketing venture's net profit by its costs, then multiplying the result by 100%. This will assess the return on investment for the marketing activities investment. It may be used to assess the success of marketing initiatives and compare several initiatives to determine which is more successful.For instance, if I spent $6,000 on marketing and those channels brought in $10,000 in sales. In order to calculate a percentage, we would use the calculation ($10,000 - $6,000) / $6,000 and multiply the result by 100. Our marketing ROI is 100% in this instance.By changing the holding time to a fraction of a year, you may also apply this computation for holding durations less than a year. For a six-month report, we also employ another calculation. Suppose an investment produced a 10% return over a six-month period. Six months are represented by the number 0.5 years.

AnnualizedROI=[(1+0.10)1/0.51]100=21%AnnualizedROI=[(1+0.10)1/0.51]100=21%

Overall, our T-shirt business is off to a terrific start since, as a newer, smaller business, this way of marketing and promotion appeals to our target audience. Since digital media has fast gained popularity and is now a vital part of the marketing communication strategy, conventional media, also known as offline media, which has been around the longest, is the most common type of media. is a terrific marketing plan for our T-shirt business.