Marketing Research Plan for Hulu's new revenue opportunities

Market Research Plans for Hulu's New Revenues Opportunities
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Market Research Plans for Hulu's New Revenues Opportunities
Overview
With the continuous technological advancements that have become a norm in any field, together with fierce competition from Netflix, YouTube, and Amazon Prime Video (Pahwa, 2020), there is a need for Hulu to continue exploring newer ways of gaining revenues. It is evident from the organization's evolved models that it has managed to increase its revenues by developing its products to meet customers' ever-changing interests, which is influenced by technological evolution. Also, Hulu needs to create newer ways to maximize its potential in revenues from its current products.
Objectives
* Understanding product delivery platforms that its subscribers are more comfortable with
* Learn the factors that influenced increment in its customers' churns to capitalize on improving customer retention strategy.
* Develop strategies that encourage customer involvement in product development to' new needs and interests are factored in products.
These objectives have a great potential of making the subscribers more comfortable with the organization's products by factoring in their interests and needs. As a result, the company can establish developments that are in line with the customers, and it shall, in return, retain its customers and, besides, gain even more customers from its competitors. Ultimately, the company shall have kept its revenue returns and gone even further to increase its revenue and suppressed the potential competition from its competitors.
Deliverable Outcomes
Since the research objectives are focused on the current Hulu subscribers, it is, therefore, logical to estimate the study to target a fraction of the 30 million subscribers that the company currently has (Pahwa, 2020). Thus, out of the 30 million subscribers, the research is estimating to work with one million respondents since the number is likely to represent its target audience holistically, and managing the responses from them won't be costly.
In this case, the target respondents are a fraction of the 30 million subscribers, meaning that they are active online users. With this reasoning, it is convincible to employ an online data presentation technique. It will be a more manageable way of getting data from different geographical locations where the respondents are based. The data used in the survey will only be used to inform the study if it is relevant to the research, and it represents the opinion of several respondents. Also, the data obtained shall only be used if applicable to attain all or any of the objectives above.
Target Audience
Hulu subscribers include people from diverse demographics, from children to adults, male to female Christians to Muslims, among many others (Moore, 2020). With the rich diversity among the subscribers, the research shall incorporate demographics to understand the needs and interests of different people. Psychographics is another technique that the study shall employ as it will aid in understanding the opinions of various individuals psychologically. Finally, the study will also try to look at people's ...