American Idol Case Study

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

In conclusion, this essay has outlined the six key elements of the marketing process: (i) situational analysis; (ii) market research; (iii) establishing marketing objectives; (iv) identifying target markets; (v) developing marketing strategies; and (vi) implementation,

Although imperfect, marketing research will help define a marketing problem and opportunity by systematically collecting and analyzing information, develop relative findings, and help to develop the appropriate marketing actions. This marketing research can be done by implementing a five-step plan. The first step is to define the problem facing Prince Sports. Here, marketing research specific measurable objectives are identified. Next, the research plan is developed with any constraints on the research, the actual data needed, and how best to collect the required data. The third step of the research plan is to collect the relevant information or data. Prince Sports needs to collect primary and secondary data to make rational, informed marketing decisions. There are numerous ways to collect such data, two of which are panels and experiments, and data mining. Once the data has been collected, Prince Sports will be to analyze the different data and develop findings related to the data collected. Once the data has been analyzed, the results will be presented to Prince Sports leadership who are responsible for developing different marketing actions. The final step of the marketing research plan is to take the marketing actions and implement and monitor the recommendations. An

Before launching or expanding a business venture, there needs to be an understanding of the industry, its competitors, and its customers. Market research is vital in assisting companies in the decision-making process and their marketing direction. Data from marketing research is important because it provides companies with ways to identify opportunities, identify market potential, minimize chances of loss, devise effective marketing strategies, gauge customer satisfaction, and serve as an evaluation tool.

Marketing research is the method/methods that connect the clients, buyers and users to the marketer through data found from research to find and outline marketing opportunities and dilemmas. The general aim of marketing research is to recognize and evaluate how altering the marketing mix which is comprised of 4 features: product, price, promotion and place, influences customer behaviour.

Television advertising has been a staple for companies since its start in the 1940’s. According to a 2016 study done by Nielsen, the average American adult watches five hours and four minutes of TV per day. Five hours is a large chunk of time to spend watching “the tube”. Companies are aware of this and try to capitalize on this opportunity as much as possible. Additionally, large scale broadcasting events such as the Superbowl and the Oscars are ways for companies to reach more widespread audiences than on a daily basis. These events are key in contributing to some businesses’ yearly revenue.

They need to make a qualitative research; they can improve a decision to contract a research company to obtain the data collection, with the information they can design a framework for conduct the study (how they are going to keep the analysis). They determine possible answers to the research questions (what spectator says), this study need to test the hypothesis (American Idol Case), to provide the information needed for the conclusion (share with professionals that’s marketing research is a good idea). The design should guide the consideration, including the benefits and cost of this study.

Marketing research defined is “the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company” (Kotler & Keller, 2009, p. G6). Juice Guys methodology to obtain

Casper Sleep Incorporated as of June 2015 had sales that had hit an annual run rate of $100 million dollars. This was only 0.7% of the $14 billion in annual retail sales in the U.S. mattress market. In their quest to becoming the “Nike of Sleep”, the Casper team has the dilemma to choose a few options in order to strengthen their communication strategy to consumers. The first option is to retain current media vehicle us and expand growth in new geographic big cities. The second option is to begin nationally televised advertising in order to show their emotional benefits of the brand. The final option is to do television the Casper way and advocate a new quirky approach to

When conducting research, when is it conducive to use primary research over secondary research and vice versa? Both research techniques are viable and beneficial. They each have purpose and can be used as a marketing research template when conducting research. Both techniques are equipped with tools that can be used to guide a researcher through the research process. If these tools are properly adhered to, the research process can be seamless and quite effective. Moreover, market research can assist a researcher in making accurate decisions and improve the chance of success. This paper will explain the difference among research tools used in primary and secondary research. It will also depict the

To be successful in business, "a consumer does not buy a whole of physical components of the product but it is usefulness, function, satisfaction of consumer's needs, solving the problem, etc" (Dubrouski, , p.1). "That is why the product is a whole of tangible and intangible components which means satisfaction of consumer's needs and desires, solving the problem"(Dubrouski, p.1). Companies and managers must learn to utilize marketing research, as well as, strategy skills to fulfill customers' satisfaction. Management has to focus on exclusive marketing challenges presented by the new era of the 21st century. Management has to be able to utilize inventive, dominant, and cost effective marketing techniques that will support the future success of the organization. Companies must meet,"the increasing importance of services as part of a product (offer, offering package) which cannot be neglected" (Dubrouski, p.1). Exploring the purpose of market research, as well as, evaluating the importance of such research, facilitates managers in realizing the importance of marketing to an organization's success and to be globally competitive.

Given the situation, a determination can be made about its relation to each of the first three steps in the marketing research process. At this point, Joe has already undertaken some actions that are consistent with the defining research objectives step. The first thing that Joe has done is define his situational problem. Although it appears to be lacking in content and clarity, he recognizes “that a great deal of research in

This type of company perform their works based on inspiration, if they do a customer approach, they might lose their best customers. Then, Henry mentioned that they do not sell “clothes”. Let’s take Apple for example. The mission statement of Apple is working on the users’ experience. If they had surveyed before inventing products, the Iphone might not be created. Since most of consumers at that time never experienced touch screen experience. How would they respond to touch screen in Apple survey. But for long term purpose, marketing research is important. We can have secondary data whether the audience satisfied with music, price and so on. Generally, market research should not be used for Entertainment Company, market research only need to be used for purposes of price, environment and so on.

To understand the consumers in the target market, marketing managers rely on the 7 O’s framework of consumer research.

Goal: to recognize and identify a marketing problem of the organization, collect and interpret information available through consumers, analyze external and internal environment, as well as defining main competitors, researching the market share of the company, identify existing problems.