An insider action research on identifying, segmenting, and evaluating the target market of Little Happy Box PH towards business growth
The insider action research identified, segmented, and evaluated the target market of the Little Happy Box PH, an online retail store that resells Filipino-owned and Philippine-made self-care products and artisan crafts. In a new business and organization, business goals are mostly focused on sales....
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| Summary: | The insider action research identified, segmented, and evaluated the target market of the Little Happy Box PH, an online retail store that resells Filipino-owned and Philippine-made self-care products and artisan crafts.
In a new business and organization, business goals are mostly focused on sales. For a reseller business, there is a consideration of being able to generate a return on investment to sustain the business and continue with the expansion of the brand portfolio. Indeed, business decisions do not end with a business launch. Further, to ensure the success of the business, owners must work towards business growth. Business growth is further defined in terms of financial growth specific to sales performance, increase in customer base specific to customer acquisition and customer retention, and brand awareness. Through action research, methods of inquiry, and reflections, the action researcher and her collaborators have decided on identifying and segmenting the target market to address the focal issue of consecutive days of zero sales.
In the course of identifying and segmenting the target market, the researchers have conducted several interventions to assess the viability of the target market including additional market research, development of a marketing strategy, and implementation of promotional strategies such as sales promotions and personal selling. While the first cycle has resulted in the desired outcome, albeit partially, the focal issue has not been fully resolved. Hence, the team has proceeded with a second cycle where the researchers have onboarded a social media strategist to further assess the target market and implement new interventions such as social media audit, social media strategy, and content planning.
In a broader context, the action research can be referenced by other organizations who are new in an online retail business and are struggling to grow the business, primarily in terms of sales and customer acquisition. A diagram on critical realism captures how the action research cycles have been completed through collaboration and reflection.
The action research is limited to the period indicated from the time of business launch, July 2020 until December 2020, covering five months, and is based on personal accounts of the business owners who are also the researchers. Thus, the implementation of specific planned actions and interventions must be done with diligent review and evaluation of the current situation. |
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