Marketing research proposal

Question 1

What is good marketing centered around?

Answer 1

the customer

Question 2

What are the 4 P’s of marketing

Answer 2

price, promotion, product and place

Question 3

What is the purpose of marketing research?

Answer 3

Help managers by:
1. specify what information is needed
2. collect and analyse the information
3. interpret it with respect to the objectives of the study

Make better decisions by:
1. providing a competitive edge in competitive markets
2. enhance profitability
3.translate data into useful information
4. provide insights on consumers (existing and potential)

Question 4

What are the 6 aspects of marketing that marketing research can assist?

Answer 4

1. product (concept testing, monitor brand equity, assess test markets, select package)
2. pricing (price elasticity, market demande, sales forecast)
3. distribution (web site testing, channel performance, coverage)
4. promotion (media and ad copy effectiveness, sales force compensation, territories)
5. buyer behavior (segmentation, awareness, satisfaction, preferences, purchase behavior)
6. general corporate research (market trends, diversification, opportunities, perceptions about competitor)

Question 5

Give a few examples of questions that can be addresses by marketing research

Answer 5

what kind of packaging should we use?

are the customers satisfied with our product?

what price should we charge?

what kind of people would buy our product?

etc

Question 6

What are the two complementary approaches to marketing research?

Answer 6

1. projects executes to address specific problems (ad hoc)
   ->snapshot in time
2. Ongoing Marketing Intelligence Systems (MIS)
   ->aka Decision Support System (DSS)
   ->continuous monitoring of consumer and market behavior
   ->core of customer relationships management (CRM) efforts
   ->BIG DATA

Question 7

What are the steps of the marketing research process?

Answer 7

1. formulate the problem
2. determine the research design
3. design data collection
4. design the sample and collect data
5. analyze and interpret the data
6. prepare the research report

Question 8

Do the steps of the marketing research process need to be in order?

Answer 8

Yes. They are all interrelated. You must complete one step before going to the next one. A modification of one step affects all the other steps

Question 9

What are the sources of marketing research problem/opportunities

Answer 9

1. unanticipated
2. planned
3. serendipity

Question 10

How do you go from a marketing problem to a research problem?

Answer 10

-> marketing problem (what i need to do)
-> the options to answer the problem (discussion with client)
-> the information to solve the problem
-> the information that is a priority
-> the information already available (secondary data collection)
-> information that should be collected during research (primary data)
-> research problem (what I need to know)

Question 11

Turn these marketing problems into research problems:

1. increase store traffic
2. Develop a package for a new product
3. Increase sales by opening new stores
4. develop equitable sales territories
5. expand into other countries
6. introduce new product

Answer 11

1. measure current image of the store
2. evaluate alternative package designs
3. evaluate prospective locations
4. assess current and proposed territories
5. assess market potential
6. design a. test market for assessment

Question 12

Formulate this marketing problem into 3 objectives

-> St-Hubert wants to enter the vegetarian market

Answer 12

1. measure the interest of St-Hubert among vegetarians
2. identify the needs, expectations and perceptions of vegetarian options for the menu
3. test the product that resonate with the target market to define a preliminary offer

Question 13

Relate theses marketing problems to their sources and formulate the research problem:

-> Rise in Bitcoin, introduction of Bitcoin investment accounts
-> Development by the R&D department of a new augmentation reality ride
-> increase in the number of immigrants unaware/un-interested in Hockey

Answer 13

-> PLANNED
Are Canadians interested in opening a Bitcoin investment account?

-> SERENDIPITY
Are consumers interested in the new augmented reality ride?

-> UN-ANTICIPATED
How can we increase immigrants’ awareness of hockey?

Question 14

What are the 3 types of research design?

Answer 14

1. exploratory
2. descriptive
3. causal

Question 15

What are the 4 types of methodology?

Answer 15

1. qualitative
2. survey / quantitative
3. observation
4. experiment

Question 16

Associate the questions to their stage of the research process:

1. Who will handle the editing of the data?
2. What is the target population?
3. What will the format of the written report be?
4. Can existing data be used?
5. How will the data be coded?
6. Should rating scales be used in the questionnaires?
7. How much is already known?
8. What information is needed to make the decision?
9. Are there any legal restrictions on the collection methods?
10. How large should the sample be?
11. Are managerial recommendations called for?
12. What is the purpose of the study?

Answer 16

1. Analyze and interpret the data
2. design sample and collect data
3. prepare the research report
4. determine data collection method and forms
5. analyze and interpret the data
6. determine data collection method and forms
7. determine research design
8. formulate the problem
9. determine data collection method and forms
10. design sample and collect data
11. prepare research report
12. formulate the problem