w02mkt241_document_analyzeMarketResearchResultsAssignment - 1
.docx
keyboard_arrow_up
School
Brigham Young University, Idaho *
*We aren’t endorsed by this school
Course
241
Subject
Marketing
Date
Feb 20, 2024
Type
docx
Pages
2
Uploaded by ConstableAlpacaMaster973
Analyze Market Research Results
Assignment
Name
: Karen Morais You have been tasked with assessing the following independent marketing research survey results. Analyze the question and determine what the next steps for the companies should be.
1.
Consumer Electronics Company Survey
: A survey by a consumer electronics company revealed that 65% of respondents prioritize device durability over design. Only 15% consider the brand name as a major deciding factor. Given these results, what steps should the company take to align its product development and marketing strategies?
The corporation should concentrate on producing durable products. Given that most consumers value longevity over design, the corporation should invest in materials and technologies that extend the lifespan of its products. In their marketing, they might also emphasize how long-lasting their products are. The corporation can concentrate less on branding because only a few individuals are concerned with the brand name. Alternatively, companies might allocate their cash towards enhancing the quality of their products and promoting their longevity.
2.
Retail Store Feedback
: A retail store conducted a survey and found that 40% of customers felt their product range was outdated. How can the store utilize this feedback to improve its product offerings and customer satisfaction? Discuss the role of ongoing market research in this process.
The store should revise its assortment of goods. To begin with, they can look at current market trends to determine which products are in demand. They should consider what their competitors are offering, as well. This helps them to decide which things to put in or
take out of their business. Ongoing market research is crucial. It assists the store in adapting to shifts in consumer preferences. They may maintain the attraction and freshness of their product line by routinely monitoring consumer trends and preferences.
3.
Survey Question Design
: Design two survey questions for the retail store to assess a) the specific types of products customers want to see more of, and b) their perceptions of
the store's current product trends.
a) "What kinds of products in particular would you want to see us stock more of? Kindly indicate the three that you think are best."
b) "In terms of keeping up with current trends, how would you characterize the present product selection in our store? Select from these options: Very trendy, Very outdated, Neutral, Somewhat trendy, and Somewhat antiquated."
By asking these questions, the store may learn more about the things customers want and how they feel about the ones it currently carries. Their product line can be modified with the help of these comments.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
1. Select a product category and after drafting positioning maps that represent the competing products in that
particular category (based on your own perceptions), find possible market opportunities or gaps in the
positioning maps that have yet to be filled. (Please refer to the picture)
2. Why do we say that perceptions count more than reality, at least in the world of marketing?
arrow_forward
If Brentford Square Shopping Centre were to conduct a marketing Research; who would they identify as the sample population and how would they target and reach them?
arrow_forward
Need help writing a paragraph about an error they are making with market segmentation.
*article is below
Product Case Study
Sam and Micaela first met while studying marketing at San Juan College. Both were ambitious and had plans to run their own businesses. Over time they decided to start a business together. Initially they spent many months discussing what sort of business they should go into. They considered various service businesses, like consulting or an internet- based training offering. However, it was eventually an opportunity in the children’s toy market that appeared to have good potential.
They had observed that parents were becoming increasingly time-poor and, as a result, had
less time to spend with their children. And in order to compensate for this, the parents typically spent large amounts on their children to entertain them. Obvious examples were the success of PlayStations, iPads, PC’s, and mobile phones.
Sam argued, “these are big ticket items. The level of…
arrow_forward
Develop a response using the following to guide you:
Identify a product/service of your choice.
Provide the description of your product (at least 250 words) and market (at least 250 words).
Identify your segment, target market, and positioning strategy (at least 250 words).
Develop a SWOT analysis with at least four points for each dimension.
Develop a PESTLE analysis with at least four points for each dimension.
arrow_forward
I want a perfect analysis for this figur
arrow_forward
e. What is the role of marketing research in the development of new products and how can it inform product design and positioning?
arrow_forward
Develop a research objective for the business problem described in the extract.
arrow_forward
a. Create research objective on product quality toward customer buying behaviour.
b. Create research objective on product price toward customer buying behaviour.
c. Create research objective on product promotion toward customer buying behaviour.
arrow_forward
The Vice President of sales of International production company is wondering how the recently introduced marketing strategy is not working and the sales of the company is declining day by day. The situation becomes worsen when many competitors also introduced the similar products and its really affecting the sales of the company and the success of the organization was also at risk in the long run. What is construct in a research? Write in your own understanding. What would be the construct of the present business problem given above?and Develop the theoretical Framework of the present business problem from your understanding.
arrow_forward
Define the purpose and the research problem statement for ‘What the opinions of consumers on a 10 percent reduction in weight, with the price remaining the same, of “Snackers” chocolate bars?’
arrow_forward
What distinguishes causal, statistical, and Pareto analyses? Which group better represents ODC methodology?
arrow_forward
Q6a) Why are more and more firms using non-financial control measures in addition tothe traditional financial-based measures? What are some of the more commonlyused non-financial measures in assessing marketing performance? b) You have been appointed as a marketing manager for Tumfwane enterpriseslimited based in Mufulira in the Copperbelt that offers hospitality services to themarket. You managing Director wants to know the consumer buying decisionprocess. Write a memo to her using an appropriate diagram to explain the buyingdecision process of a consumer? c) The president of a large manufacturer of household appliances that aremanufactured and sold in Zambia, has asked you to develop a system formonitoring and evaluating the impact of major environmental trends in thiscompany’s strategies and programmes. Briefly describe your proposed system interms of how you would organize your scanning activities, and evaluate the impactof each(d) Stouffer’s foods holds a commanding share of the…
arrow_forward
If a key research objective sought to develop brand image profiles for a local bank and a key competitor, what type of scale should be used? Why? Create a multi-item scale that measures a bank’s brand image. Defend the scale category choices you made in terms of number of categories, balanced versus unbalanced scales, “no opinion” and “don’t know” options, forced versus nonforced choices, and type of category description.
arrow_forward
Using the extract, design a criteria ideal for good research report?
arrow_forward
Suggest 6 recommendations for the brand to improve its current positioning based on your own research. The 6 recommendations must include (1) a product/service strategy, (2) a pricing strategy, (3) marketing tactics strategy, (4) sales strategy (5) a marketing communications strategy and (6) a global marketing strategy.
arrow_forward
12. Customer satisfaction of different car brands showed that the customers were excited about the new features of one of the well-known luxury brands. It also showed that new model of the brand used smart technologies which exceeded customer survey expectations. However, customers were not highly satisfied with the location of service centers and customer response. In view of this survey finding, what should car manufacturer do? What should be its new or augmented marketing plan?
arrow_forward
Develop a clear research objective for the business problem described in the extract. (+-400 words)
arrow_forward
Please answer only question 4 and 5 and answer 1,2 and 3 have already been solved.
Develop a response using the following to guide you:
Identify a product/service of your choice. the prduct here is IPhones
Provide the description of your product (at least 250 words) and market (at least 250 words).
Identify your segment, target market, and positioning strategy (at least 250 words).
Develop a SWOT analysis with at least four points for each dimension.
Develop a PESTLE analysis with at least four points for each dimension.
arrow_forward
Q2: What is market segmentation and what does it mean to proflie the target audience?
arrow_forward
A popular Indian Brand wants to establish, retail chain hyper-market in all metro cities in the country. Before they establish, the company wants to know their success rate compare to other competitive brand.
(i) Formulate a Market Feasibility Survey Plan
(ii) Develop a marketing questionnaire to know the success rate of the competitive brand.
arrow_forward
Principle of Marketing
Discussion Questions
What are the steps in the new product development process? What are the key activities in each step?
Who are lead users, and why are they important in acceptance of the new product ?
How should a company evaluate new ideas? What are criteria should they use?
Please use appropriate examples, preferable fromkingston Jamaica when answering these questions.
arrow_forward
Answer the following question stated in a paragraph.
“An error they are making with market segmentation”
*article is listed below
Product Case Study
Sam and Micaela first met while studying marketing at San Juan College. Both were ambitious and had plans to run their own businesses. Over time they decided to start a business together. Initially they spent many months discussing what sort of business they should go into. They considered various service businesses, like consulting or an internet- based training offering. However, it was eventually an opportunity in the children’s toy market that appeared to have good potential.
They had observed that parents were becoming increasingly time-poor and, as a result, had
less time to spend with their children. And in order to compensate for this, the parents typically spent large amounts on their children to entertain them. Obvious examples were the success of PlayStations, iPads, PC’s, and mobile phones.
Sam argued, “these are big ticket…
arrow_forward
Are these Dogs, Stars, Question mark or Cash Cows? Why?
BNSF
Duracell
Fruit of the Loom
Garan Incorporated
Justin Brands
Richline Group
See's Candies
Ben Bridge Jeweler
Berkshire Hathaway Energy Company
Nebraska Furniture Mart
Lubrizol Corporation
BoatU.S.
Marmon Holdings, Inc.
Borsheims Fine Jewelry
McLane Company
Brooks
MedPro Group
Note:-
Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
Answer completely.
You will get up vote for sure.
arrow_forward
Possible Yes or No research question for this objective
arrow_forward
Using YOUR OWN WORDS, define and explain, with examples, the 4 Scales of
Measurements used in Marketing Research questions.
arrow_forward
Task 5 The product cycleYou tell about the product life cycle for an entrepreneur in the process of developing a new product. Which of the following statement (s) do you say to the entrepreneur (which statement (s) are correct (a) statements):
Select one or more options:
A) The product life cycle is used as a segmentation variable to segment a market
B) The stages of the product life cycle can be a guide for companies in what an appropriate marketing strategy can be
C) The product life cycle looks exactly the same for all offers
D) You can see the product life cycle at different levels, such as product class or brand
E) The time it takes for different offers to go through the stages of the product life cycle varies
arrow_forward
The marketing manager in the market
with the
research project links the
and the customer groups.
None of the options
Environment, external variables
O Marketing variables, environment
Marketing variables, customer groups
arrow_forward
KFC is considering introducing a new range of healthy meal options. In order to measure the success of these new healthy meal options, they decided to make it available in some of its restaurants only
Correctly identify and discuss the research method KFC will employ when testing out the health meal option is some of its restaurants. Ensure to show application to the scenario. Describe how KFC will use Internal Data and Marketing Intelligence to help the company in deciding to introduce the new health meal option.
arrow_forward
Write a positioning statements for the products. Write one statement for Switz Foods – Mio Amore and another statement for Monginis – it’s revived competitor. (400 maximum word limit)
Positioning Statement Template:
To whom (target market or segment):
Relative to (frame of reference – competition or substitutes):
What is “point-of-difference” (customer value proposition):
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Related Questions
- 1. Select a product category and after drafting positioning maps that represent the competing products in that particular category (based on your own perceptions), find possible market opportunities or gaps in the positioning maps that have yet to be filled. (Please refer to the picture) 2. Why do we say that perceptions count more than reality, at least in the world of marketing?arrow_forwardIf Brentford Square Shopping Centre were to conduct a marketing Research; who would they identify as the sample population and how would they target and reach them?arrow_forwardNeed help writing a paragraph about an error they are making with market segmentation. *article is below Product Case Study Sam and Micaela first met while studying marketing at San Juan College. Both were ambitious and had plans to run their own businesses. Over time they decided to start a business together. Initially they spent many months discussing what sort of business they should go into. They considered various service businesses, like consulting or an internet- based training offering. However, it was eventually an opportunity in the children’s toy market that appeared to have good potential. They had observed that parents were becoming increasingly time-poor and, as a result, had less time to spend with their children. And in order to compensate for this, the parents typically spent large amounts on their children to entertain them. Obvious examples were the success of PlayStations, iPads, PC’s, and mobile phones. Sam argued, “these are big ticket items. The level of…arrow_forward
- Develop a response using the following to guide you: Identify a product/service of your choice. Provide the description of your product (at least 250 words) and market (at least 250 words). Identify your segment, target market, and positioning strategy (at least 250 words). Develop a SWOT analysis with at least four points for each dimension. Develop a PESTLE analysis with at least four points for each dimension.arrow_forwardI want a perfect analysis for this figurarrow_forwarde. What is the role of marketing research in the development of new products and how can it inform product design and positioning?arrow_forward
- Develop a research objective for the business problem described in the extract.arrow_forwarda. Create research objective on product quality toward customer buying behaviour. b. Create research objective on product price toward customer buying behaviour. c. Create research objective on product promotion toward customer buying behaviour.arrow_forwardThe Vice President of sales of International production company is wondering how the recently introduced marketing strategy is not working and the sales of the company is declining day by day. The situation becomes worsen when many competitors also introduced the similar products and its really affecting the sales of the company and the success of the organization was also at risk in the long run. What is construct in a research? Write in your own understanding. What would be the construct of the present business problem given above?and Develop the theoretical Framework of the present business problem from your understanding.arrow_forward
- Define the purpose and the research problem statement for ‘What the opinions of consumers on a 10 percent reduction in weight, with the price remaining the same, of “Snackers” chocolate bars?’arrow_forwardWhat distinguishes causal, statistical, and Pareto analyses? Which group better represents ODC methodology?arrow_forwardQ6a) Why are more and more firms using non-financial control measures in addition tothe traditional financial-based measures? What are some of the more commonlyused non-financial measures in assessing marketing performance? b) You have been appointed as a marketing manager for Tumfwane enterpriseslimited based in Mufulira in the Copperbelt that offers hospitality services to themarket. You managing Director wants to know the consumer buying decisionprocess. Write a memo to her using an appropriate diagram to explain the buyingdecision process of a consumer? c) The president of a large manufacturer of household appliances that aremanufactured and sold in Zambia, has asked you to develop a system formonitoring and evaluating the impact of major environmental trends in thiscompany’s strategies and programmes. Briefly describe your proposed system interms of how you would organize your scanning activities, and evaluate the impactof each(d) Stouffer’s foods holds a commanding share of the…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill EducationFoundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSONContemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning