Table of Contents
Relevant, accurate and thorough information is the leading course of most successful businesses globally. This is so because it gives and provides a pool of knowledge about the existing and potential customers, information about competitors and the industry at large. According to Wu, Chen, Chen, & Cheng, (2014), marketing research is used to gather information needed for managers and business owners to make wise decision. It is the process of gathering analyzing and interpreting marketing information regarding viability of new products or services and obtains information about how consumers are going to perceive the information. The aim of this study is to analyze how FedEx Company used marketing research to reach its target customer.
To find out how FedEx use market research to reach its target audience, what are the needs and expectation of the audience when to deliver good, where to deliver goods and finally how to deliver goods.
Studies conducted in the recent past have revealed that online shopping is on the rise. Available literature also shows that shoppers want to explore the world to have new experience and new products. Thank to technology, which has turned the world into a global village. It is very easy to buy good online from a faraway country buy just a crick of a phone or a computer. Research conducted reveled that most of frequently bought items included clothing and cosmetics. This raises a question of how goods will be delivered to the actual buyer. FedEx takes this opportunity to offer delivery services from sellers all over the world to the clients
The growth of online markets places is at its peak. The growth has become imminent and its popularity has led to evolvement of many more market places. They offer a platform for the buyers to buy goods from a variety of sellers confined in a common market place. They present an opportunity for small-scale sellers to compete in the market and reach out to customers within their borders, internationally and across the globe (Li, Tadelis, & Zhou, 2016). The puzzle is how to connect the two to finalize the purchase process or to allow for the actual delivery of good to take place. FedEx chip in to settle the problem by ensuring timely and safe delivery of products to customers.
Who are the target customers or audience?
FedEx is the one of the largest courier companies in the world. Therefore, it clients or customers all scattered all over the globe. Though marketing research it has been able to identify the need and urge to deliver goods on time (Mason, McKenney, Carlson & Copeland, 2010). The world has become a global market, a person in Africa can purchase goods online from another person in America, but how are the goods going to be delivered to the buyer given the distance between them? That is where FedEx comes in to offer a solution to the two. The company has a massive of logistics including planes , truck, trains and ship to make sure that goods are deliver on time and also offers tracking services to clients who are sending goods to ensure that they are save on board.
Delivery of services to customers
Initially customers would buy goods and shipment from abroad and go back home to wait for their goods (E-marketer, 2017). Truly, this haunted and disappointed many customers who wait for even more than six months. In addition, shipment costs escalated general prices of goods and were being communicated too late after the purchase has been done. The shipment process lack clearly defined guidelines or procedures to be followed, FedEx identified this problem where a good percentage of customers expressed their discontentment in the whole process. In many occasions sellers failed to meet delivery promises was also very common. Feed company ensured reliable delivery which have gone a mile further into garnering customer’s trust and repeat business with clients
What does the target customer need?
The desires, needs and expectations of customers are yet another important and crucial aspect of a business (Mosteller, Donthu, & Eroglu, 2014). FedEx marketing research has aided in finding out what customers need to make sure that their needs and expectations are fully met to help build trust. Every person needs his or her parcel to be delivered on time to the right place and to the right party. A lot of confidence is important because some of the goods transferred include checks and important certificates. FedEx has added a little more taste to the business in allowing for flexibility in their operation. Future is unpredictable and likewise plans are subject to change, customers are allowed to make new plans if need be ( (E-marketer, 2015)). Customers are therefore given a chance to reroute, reschedule and customize delivery time when need be.
Methodology and sample size
The research was conducted using both primary and secondary data. Primary data was collected by interviewing the customers directly through filling in questioner with five questions both open and closed. Secondary data was collected from internet and other online sources through the aid of platforms like Mixpanel, CrazzyEgg and The AdWord Performance Grader. A sample of 200 people were selected randomly were assessed.
At least 63% of the participants agreed that they shop online both from local and international markets. A bigger percentage of the participants said that mostly they bought cloths and electronics. A proportion of 78% said that they wanted to be allowed to track goods their goods during transportation. 38% of the participants wanted the procedures rules and guidelines regarding shipments to be simplified.
Online marketing is on the rise in today’s world. Many people want to buy online to have a variety or quality products from a variety of sellers. A need for timely and convenient delivery is of importance and should be given first priority. FedEx Company is one of the largest courier company offering services of delivering good worldwide. Robust research and a thorough critique of market have aided the company to identify the need in the market and reach it audience. The company has equipped itself with trucks, trains, planes and ships to aid in the process of delivery.
- E-marketer, F. (2017). (FedEx, Ed.) 5 Steps to Global Growth in an E-commerce world.
- E-marketer. (2015, february 9). How The World Shops Cross-Border. (FedEx, Ed.) blog.
- Li, L. I., Tadelis, S., & Zhou, X. (2016). Buying reputation as a signal of quality: evidence from an online marketplace (No. w22584). National Bureau of Economic Research.
- Mason, R. O., McKenney, J. L., Carlson, W., & Copeland, D. (2010). Absolutely, positively operations research: The Federal Express story. Interfaces, 27(2), 17-36.
- Mosteller, J., Donthu, N., & Eroglu, S. (2014). The fluent online shopping experience. Journal of Business Research, 67(11), 2486-2493.
- Wu, L. Y., Chen, K. Y., Chen, P. Y., & Cheng, S. L. (2014). Perceived value, transaction cost, and repurchase-intention in online shopping: A relational exchange perspective. Journal of Business Research, 67(1), 2768-2776.