Life Corp.

Proposal Research Project Tykiera Manning

2/14/18
PURPOSE OF THE PROPOSED RESEARCH PROJECT
The purpose of the proposal research project is to collect functional, positional, and ingenuity
information to tackle several key issues and questions posed by the senior leadership and board of
directors of Life Corp., concerning the future of our cellular products. The following essential questions
have been selected for the focus of this proposal:

(1) Why do customers prefer Life Corp. over our competitors?

(2) What attributes of a future smartphone are most important to the Life Corp. customer?
(3) What major competitors could be a potential threat?
(4) Is there demand within our segment groups?
(5) What trends may impact our success and our position as a leading provider in the smartphone
industry?
(6) What trends are popular in the smartphone industry to better understand Life Corp.’s position
in the market?
(7) What is the demographic profile of the consumers who use the Life Corp. smartphone?
(8) Should Life Corp. focus on the handheld device or switch to wearable technology in the future?
(9) Do segments want a new product to demonstrate a more data – driven environment?

TYPE OF STUDY
To collect data to answer these questions, the research will be a structured and detail-oriented design
that includes both descriptive and exploratory investigation. The study will be exploratory because many
questions focus on trending awareness, product development, and establishing a competitive advantage
from competitors. The study will have a descriptive component to answer questions on consumer
behavior, identifying a target segment, and knowing what tech devices our customers prefer on a day to
day for future advances.

TECHNIQUE AND DATA COLLECTION METHOD

Considering time frame and budget margins, an outside firm of three other individuals will be in
assistance to construct the process of focus groups and questionnaires in an efficient and timely
manner. This method allows for more inexpensive focus groups to be administered instead of an
elongated, costly experiment on how our customers interact with the product. The focus groups will also
allow us to answer direct questions to potential customers and longstanding customers to see what
competitors they have shown interest to and why and explore if they are open to a likely change in
product development.

The descriptive method will aid in gaining a better understanding of the Life Corp. customer through
personalized questionnaires sent to each loyal customer in our email and mailing database. Attached to
the questionnaire will be a cover letter explaining the study as well as a suitable incentive to gain
participation. This would be an effective way to receive genuine answers on why each customer
selected us personally, and what they like and dislike about the technological advantages today.
 Life Corp. Proposal Research Project Tykiera Manning
2/14/18
DEFINITION OF THE TARGET POPULATION AND SAMPLE SIZE
The target segment of individuals will consist of college-oriented business students, young adults
between the ages of sixteen and twenty-five who own a Life Corp. cellular device or considering trying
our product. Also, focusing on geographical areas that are concentrated in population, such as medium
to large city. This target audience was selected by considering the idea that business users and kids
would love the direction our smartphones are heading in from past information. College business
students will provide insight on how they use their technology devices as it relates to professional work
verses leisure time.

Targeting young adults will provide information on what kids (16 years old to 18 years old) would like to
have their phones do and what expectations adults (19 years old to 25 years old) have in day-to-day
operations. Targeting geographical areas that are populated will allow the focus group process to move
faster and give more diversity in selections. The population frame to a city, such as Columbia, SC, is
around 135,000 people. Realistically, around 2,000 maxima would be included in the sample size for
focus grouping, while questionnaires will be selected from our databased and analyzed with the help of
the three new people on board.

POTENTIAL MANAGERIAL BENEFITS OF THE PROPOSED STUDY

I predict that understanding our target segment will increase future sales. However, understanding our
target segment and ideal customer could decrease sales if our suggested execution to start the process
is incorrect. Given the nature of the proposed research project, the findings will enable Life Corp.’s
management teams to answer questions regarding the preferred changes in product development as
well as other marketing strategies, such as targeting and positioning within the market. Specifically, the
study will help the improvement of managerial benefit by:

✓ Recognizing key issues that prevent the further success and improve of Life Corp. in the
smartphone market
✓ Enhancing insights on how to reach additional target segments concerning the potential idea of
creating new products
✓ Better understanding the type of customers using our product brand and their reason for not
choosing our competitors

Additionally, I suggest that the proposed research project will enable management to develop
telecommunications products with the consumers’ help, offer a variety of potential sizes in phone or
other products, decide on introducing wearable communication is the future, and to focus in on specific
smartphone elements: camera, processor, and screen.