...Marketing Research 101 Introduction D Market Research For more information contact: uring the last meeting of the Market Research Working Group (MRWG) it was suggested that the volunteer members could use an overview or summary of marketing research terminology and methods. This paper is by no means a comprehensive view of marketing research, but rather a basic primer intended to familiarize members of the MRWG to basic marketing research concepts. What is Marketing Research? Marketing research is a systematic process that collects, analyzes and draws conclusions from data gathered from consumers, business owners, or other groups of interest. Types of Marketing Research There are different types of Marketing Research and each type has its place in attempting to answer questions and meet the needs of an organization. Marketing research can be broken down many ways. One of the most common is to group research into quantitative versus qualitative methodology. Qualitative Research Qualitative research is usually exploratory in nature and is useful for uncovering insights into research questions that may not be well defined or no previous research has been done in the area. Methodologies include focus groups, in-depth one-on-one interviews, observation, etc. Qualitative research is defined by: • • • • • Smaller sample sizes (i.e. < 30 respondents) Non-random sample (i.e. respondents chosen based on their willingness to attend) Less structured/Open-ended...
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...practices: Yama (moral codes), Niyama (self-purification and study), Asana (posture), Pranayama (breath control), Pratyahara (sense control), Dharana (concentration), Dhyana (meditation), and Samadhi (absorption into the Universal). The Ashtanga Way Yoga Center offers 8 eight-week sessions of classes per year to include online training. Courses offered include Ashtanga style Yoga plus workshops in related topics. The Yoga Center features well-trained, professional instructors, progressive teaching methods, a non-competitive and encouraging atmosphere, and a beautiful light-filled facility. The Ashtanga Way Yoga Center also will have a boutique that will sell workshop clothing and yoga training aides. founder of The Ashtanga Way Yoga Center, is one of Ashtanga Yoga's leading teachers. She conducts workshops and teacher trainings locally and nationally. She has been a yoga practitioner since 2001 and a meditator since 1998. 2.0 Situation Analysis The Ashtanga Way Yoga Center is entering its first year of business. The business model has been well received and marketing is especially important to maintain growth and market penetration. In addition to offering in yoga classes it interactive online sessions, the Ashtanga Way Yoga Center main activity is the creation and implementation of wellness programs for individuals and groups. 2.1 Market Summary The Ashtanga Way Yoga Center possesses good information about the market and knows a great deal about the common attributes of...
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...Pass: 3 Introduction to Marketing Describe how a selected organisation or any other organisation uses marketing research to contribute to the development of its marketing plane. A definition of marketing research: "Marketing research is the systematic and objective search for, and analysis of, information relevant to the identification and solution of any problem in the field of marketing." The key words in this definition are; systematic, objective and analysis. Marketing research seeks to set about its task in a systematic and objective fashion. This means that a detailed and carefully designed research plan is developed in which each stage of the research is specified. Such a research plan is only considered adequate if it specifies: the research problem in concise and precise terms, the information necessary to address the problem, the methods to be employed in gathering the information and the analytical techniques to be used to interpret it. The market research brief: Marketing research can be concerned with any of a variety of aspects of the market: the product, sales, buyer behaviour, promotion, distribution, pricing, packaging, etc. Since the researcher cannot investigate everything about a market, he/she must be selective. The question remains as to how the researcher decides where to focus the study, and to what depth each issue should be investigated. The answer should lie in a document called the research brief. The research design is a set of guidelines...
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...MARKETING (WH) {MKTG} L/R 101. Introduction to Marketing. (C) Niedermeier. The objective of this course is to introduce students to the concepts, analyses, and activities that comprise marketing management, and to provide practice in assessing and solving marketing problems. The course is also a foundation for advanced electives in Marketing as well as other business/social disciplines. Topics include marketing strategy, customer behavior, segmentation, market research, product management, pricing, promotion, sales force management and competitive analysis. 211. (MKTG773) Consumer Behavior. (C) Cutright, Reed. Prerequisite(s): MKTG 101. This course is concerned with how and why people behave as consumers. Its goals are to: (1) provide conceptual understanding of consumer behavior, (2) provide experience in the application of buyer behavior concepts to marketing management decisions and social policy decision-making; and (3) to develop analytical capability in using behavioral research. 212. (MKTG756) Marketing Research. (C) Shen, Eliashberg. Prerequisite(s): MKTG 101, STAT 101. Students are highly encouraged to take statistics in the semester immediately preceding this course. This course examines the role of marketing research in the formulation and solution of marketing problems, and the development of the student's basic skills in conducting and evaluating marketing research projects. Special emphasis is placed on problem formulation, research design, alternative methods...
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...Southern Methodist University Cox School of Business MKTG 6223-021 Analytic Methods for Understanding What Consumers Value 195 Crow Thursdays 2-4:50 pm Spring 2011 Professor William R. Dillon 210A Fincher 214/768-3163 Email: bdillon@mail.cox.smu.edu Office Hours: Thursday 1-2 pm and by appointment Course Description Determining what is valued and the importance of product features and service offerings is perhaps the most important issue that marketing managers face. Recently, conjoint and choice models have become popular techniques to help marketing managers understand what customers value. The objective of this course is to expose the student to a variety of preference models used by brand managers and marketing analysts and to give students hands-on experience in using conjoint and choice modeling techniques. This course examines these marketing decisions using a combination of lectures, cases, and exercises. Learning Objectives: 1) Develop an understanding of consumer decision making frameworks and protocols. 2) Learn how to design and analyze choice/conjoint experiments so as to quantify the importance consumers place on specific attributes/ benefits. Course Material Readings, Lecture notes, Case Exercises and Situation Analysis directions are available on Blackboard at https://courses.smu.edu/webapps/login/ . Evaluation Exam 40% Quizzes 35% Simulation Exercise 25% 100% Please...
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... MARKET RESEARCH:- Consumer marketing research is a type of sociology (applied) that has its main focus on the preferences, attitude and behaviour of consumers in a competitive economy. The main objective is to understand the effectiveness and success levels of pull-marketing campaigns. Consumer marketing research is also known as the systematic identification, analysis, collection and distribution of information mainly for the purpose of helping the management in decision making process related to the classification and solution of prospects and problems in marketing. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behaviour. Assess of consumers (prospective and existing)can be done with consumer market research from Informatics Outsourcing. Consumer market research can help in the quests of, * Gathering market information regarding opinions and trends * Acquiring information on consumer behaviour * Measure the interest levels in new products and service offerings * Generating a list of potential new customers Consumer marketing research is also a Part of market research in which the preferences, motivations, and buying behavior of the targeted customer are identified through direct observation, mail surveys, telephone or face to face interviews, and from published sources (such as demographic data). Business to business market research Business to business (B2B) research is inevitably...
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...Current Business Research Project Paper Many companies and organizations utilize business research to describe or answer an organized effort to discover specific issues encountered in their organization or society with regards to their products. Research can be defined as gathering information from credible sources for the purpose of solving a problem. Business research is utilized to investigate a described problem within an organization or one that is caused by a product of an organization. The following information is a synopsis of an article discussing marketing services that are used to satisfy internal customers (Harell, Fors, 1995). Industrial firms invest a considerable amount of time, effort, and money into understanding how organizations purchase from the perspective of marketing. This approach seeks to understand the needs, wants, and expectations of purchasers in developing a firm’s ability to provide effective customer satisfaction (Harell, Fors, 1995). The first step in the development of inter-organizational marketing strategies possesses an understanding of organizational purchasing behavior. Most companies devote very little attention to the concept of intra-organizational marketing of goods and services and some organizational groups market its capabilities to other groups within the same company. These internal transactions constitute an immense share of the business transactions that move goods and services throughout the industrial supply chain to the...
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...Assignment 1 Red Bull Female Perspective Focus Group Marketing Research Introduction: For over 26 years, Red Bull has manufactured and sold energy drinks. With over 40 billion cans consumed and sold in over 166 countries, Red Bull is currently the number one energy drink brand consumed worldwide, but as new energy drink companies emerge and the market saturates, it is important to retain a competitive edge. A report conducted by Nielsen on users of energy drinks states that a new heavy user category has been discovered; young mothers (Nielsen, 2013). In the past Red Bull has remained very neutral, appealing to both males and females with gender neutral packaging and directed marketing to the target markets of young males, students and club goers. Recently, direct competitors such as Monster and 5 hour energy have created flavours designed specifically for the female demographic. As an industry leader, it is important to evaluate possibilities, especially if they mean gaining market share. This focus group will explore the potential opportunities that this newly discovered target market may hold. Purpose of study (problem definition): The following study is an attempt to gather insight on the wants and needs of a new target market demographic (young mothers and young female energy drink consumers). Will a new female-oriented beverages be well received and potentially profitable? Specific research objectives and information/data requirements: The Goals of this...
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...Marketing Research MKTG 3401 – Fall 2012 Section 01 W/F 11:45 am – 1:25 pm 330 Dodge Professor: Felicia Lassk Office: Hayden Hall 202 Office hours: W, 1:30 – 2:30 p.m. or by appointment Phone: (617) 373-5307 Email: f.lassk@neu.edu Blackboard: blackboard.neu.edu “MKTG 3401 Lassk Fall 2012” Text: Marketing Research, Malhotra, 6th Edition, 2010 – NU custom text. Prerequisites: MKTG 2201, MGSC 1201 and 64 SH toward the degree Course Description: This course focuses on the marketing research process and the analysis of data using SPSS statistical software. It gives students the opportunity to develop an understanding of consumer attitudes and behavior processes as the basis of the design of marketing problems. The course covers topics such as problem definition, research design, sampling, attitude measurement, questionnaire design, data collection, and data analysis. Statistical Package: SPSS is available as a 6-month rental for $35 plus $4.99 download fee. Details on how to access the rental are provided in the Tech Marketplace of MyNEU Portal under “Free and Discounted Software – More Software tab.” SPSS is also available for free through MyApps using MyFiles to house your data files. Please note, to access SPSS with MyApps on campus, you must be connected to “NU-Secure” wi fi. Details to access MyApps and“NU-Secure” wi fi is provided in the MyNEU portal. You must be able to access SPSS through either of these options by 9/19. ...
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...Weiheng Hsu MKTG 500 HBS CASE: THE COOP – MARKET RESEARCH 1. What is the size of the loss at the Coop? What could have been attributed to this loss? (Be thorough in your analysis) The average sales per restaurant is $775,000. The total stores amount is 76. The total retail sales is $775,000 x 76 = $58.9 million. 20 of The Coop’s 76 stores accounted for 32% of the retail sales, the amount is $58.9 million x 32% = $18,848,000. The average decline rate is 6% per store, the amount of the lose is $18,848,000 x 6% = $1,130,880. It is not uncommon that a business organization faces a sales slump, especially when the business organization reaches to the maximum level of its operational ability. In my opinion, the causes of a sales slump can be examined from inner factors and outside factors respectively. In terms of inner factors, according to Buckmeister’s examination, he found that the performance that below the kitchen’s standards may contribute to customer’s dissatisfaction. Inadequate trained staff can cause a bad customer service and low food quality. On the other hand, outside factors, such as competitors threat, is another reason that causes The Coop’s loss. For example, KFC, the dominant brand in chicken QSR, not only serves a quality food for its customer, but also lunches several special promotion events, for examples, valued-added premiums or tie-ins with sport events. 2. Analyze the dynamics between McMichael and Wallace. Are they looking in the...
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...Farmers Insurance Group Marketing Plan Vanessa Hesterberg BUS 695 Marketing Capstone Seminar Prof. Dr. C.R. Roberts July 9, 2012 Chapter 4 Marketing Plan Exercise Macro trend analysis encompassing all relevant macro trend categories and should uncover quantitative data that provides evidence of the size and growth rate of the overall market In the demographic environment many of the target audience are middle class homeowners between the ages of 25 and 70 years of age and have pets. The company would incorporate fitness and exercise with a pet and offer the insurance at the same time, appealing to the target audiences’ sociocultural side. The company would also encompass the economic environment which would incorporate extra discounts on the home and auto side for having pet insurance, making the insurance more affordable. According to the Journal Sentential, more companies are offering pet insurance as a perk or discount to the employees. According the American Pet Products Association, Americans spent over 12.2 billion on vet care. Qualitative data regarding the five forces This new line of insurance would compete against other small companies like Purina who sells pet insurance on the side. The only threat would be the threat of other insurance companies like Allstate or Statefarm competing with Farmers after seeing the company’s success. Farmers Insurance would have strong buying power with their current customers and our current target market. There...
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...MARK205 Introductory Marketing Research Week 3 Today Week 3 1. Secondary & Data Secondary & Standardized Data 2. Standardized Marketing Data plus 3. Discussion of Assessment 1 Discussion of Assessments 1 & 2 4. Discussion of Assessment 2 Chapter 4 of Aaker et al. (2007) Assessment 2 Marking Guide & Rubric The Research Process Learning Objectives • Outline the nature & various sources of secondary data • Discuss the uses & evaluation of secondary data • Spotlight on searching for journal articles Links in with Assessment 2 • Explain & discuss the nature & requirements of Assessments 1 & 2 1. Secondary Data Internal Sources Secondary Data Source • Data gathered for a study or purpose other than the immediate study at hand Prior Company Research Company & Sales Reports Internal Secondary Data • Collected / compiled by the individual organisation External Secondary Data What You Could Get Accounts & Shipping Records Business Plans • Collected / compiled by an outside party Customer Feedback Dr Julie Francis Autumn 2015 1 MARK205 Introductory Marketing Research Week 3 1. Secondary Data External Sources Source Applications What You Could Get Secondary Research Task Support Primary Research • Secondary Research Task Innovations, trends, market reports General Media e.g., TV, magazines Information about competitors, markets, & consumers Academia e.g. journal...
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...American Express Marketing Shay Torok BSA/310 Rassoul Alizadeh 10/28/2013 American Express Marketing Shay Torok BSA/310 Rassoul Alizadeh 10/28/2013 Early Years American Express was founded in 1850 by Henry Wells and William Fargo, the founders of Wells Fargo Co. The company was first used as an express mail business in upstate New York. Quickly, American Express, also known as AmEx, began monopolizing the shipping industry and eventually moved its location to the Financial District of Manhattan. In 1882, AmEx began offering financial services such as money orders. October of 1958, AmEx started distributing charge cards, today known as credit cards. From that day forward, AmEx became a financial guru and head of the industry. Today, AmEx is the world’s largest card issuer by volume and one of the most well-known name within the financial services community. Types of Research To get where they are today, American Express would need to have excelled in marketing strategies. The main component of these marketing strategies are research. There are two main types of market research; qualitative and quantitative. Let’s take a look at qualitative research first. Qualitative research consists of gathering detailed information by interviewing individuals or utilizing focus groups and the questions asked are usually open-ended. “Open-ended interviews are composed of questions that cannot be answered with a simple yes or no. This type of interview gives you a lot of...
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...Whether you are starting a new business or launching a new product, conducting a marketing analysis is the first step in determining if there is a need or audience for your idea. Knowing the market's needs and how it is currently serviced provides you with key information that is essential in developing your product/service and marketing plan. Too often, businesses spend thousands of dollars launching a "new" idea with a limited market because of competition. The owner is forced to reevaluate his strategy and determine if there is room for another player. Although the quality of the product is critical, your development of the best product on the market will not necessarily correlate with the most sales. Up to 50 percent of a product's price can be for marketing. The company who wins the marketing game generally will capture the larger share of the market. For related information, see Identify Your Target Market. Conducting a market analysis will help you: 1. Prepare to enter a new market 2. Launch a new product/service 3. Start a new business At the completion of this exercise, you should be able to: • Explain the concepts of a marketing analysis • Determine if there is a need for your idea or product/service • Identify a new market • Analyze your current market • Gain a competitive advantage • Begin to establish a marketing plan Outline: I. Marketing Analysis - What Is It? Why Should You Do It? II. The Complete Process: ...
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...(P1, P2) Describe the term primary research and explain FIVE different primary research techniques that are commonly used. Primary research is any type of research that you go out and collect yourself. Examples include surveys, interviews, observations, and ethnographic research. A good researcher knows how to use both primary and secondary sources in her writing and to integrate them in a cohesive fashion. While there are many ways to perform market research, most businesses use one or more of five basic methods: surveys, focus groups, personal interviews, observation, and field trials. The type of data you need and how much money you’re willing to spend will determine which techniques you choose for your business. 1. Surveys. With concise and straightforward questionnaires, you can analyze a sample group that represents your target market. The larger the sample, the more reliable your results will be. • In-person surveys are one-on-one interviews typically conducted in high-traffic locations such as shopping malls. They allow you to present people with samples of products, packaging, or advertising and gather immediate feedback. In-person surveys can generate response rates of more than 90 percent, but they are costly. With the time and labor involved, the tab for an in-person survey can run as high as £100 per interview. • Telephone surveys are less expensive than in-person surveys, but costlier than mail. However, due to consumer resistance to relentless telemarketing...
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