Starting a new business, or re-inventing an old one, requires having a thorough plan and addressing several questions. Choosing the type of business, developing a name, knowing the competition, and understanding the target audience are all important factors when branding a business and getting that brand name out into the market. Research is imperative when gathering information about various markets, target audiences, and competitors. Market research is an effective tool, providing data that can be used to drive marketing strategies and accomplish business objectives and goals.

 

In Souris, Prince Edward Island, a local restaurant named Crabby's Seafood is being reintroduced as Crustaceans Seafood and & Lobster House after being purchased and relocated by the new owner. A competitive analysis was conducted as the first step in determining how Crustaceans would be marketed. It gave insight into Crustaceans's competitors and their strengths and weaknesses. Research shows that failure to understand competitors will lead to costly marketing mistakes and could have detrimental financial implications for businesses. Research was used to find new ways to market the restaurant and create an entirely new look and feel to help it stand out from the competition.

 

Several research tools aided with the development of effective creative design solutions needed to market Crustaceans. Making connections, synthesizing information gathered through research, and transforming that information into effective design solutions elevated their marketing campaign, making it successful in attracting attention and creating interest in its products, and services.