Marketing: An Introduction (13th Edition)
13th Edition
ISBN: 9780134149530
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
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Chapter 4, Problem 1BLC
Summary Introduction
To think critically about: The steps in marketing research process which help Person X to analyze the career opportunities and job possibilities.
Introduction:
The study of consumers by the market place and producers to gather the required information to know the needs of the customers is termed as
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Good market research is essential for planning and forecasting. It also helps target the appropriate market.
As the marketing research industry expands, what skills will future executives need to possess?
How do these skills differ from those currently needed to function successfully in the marketing research field?
Reflect on the importance of ethics in marketing research. What initiatives would you present to marketing management to assure participants that the data collection process is ethical and their data will not be used for alternate purposes?
Using this article Links to an external site.from wired.com Links to an external site.or another of your choice, research and write a brief summary of the emergence of big data in the field of marketing analytics. Here are some questions and concerns you might want to address:
What are some of the controversies surrounding big data?
Is it ok for companies to sell your data?
If you are participating in a “free” service such as a social media app, is it really free? What is the unseen cost?
Do you become the product being sold by providing your personal information? Why or why not? How do you feel about that?
See also “The Evolution of Big Data and Where We’re Headed Links to an external site.” from wired.com.
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Marketing: An Introduction (13th Edition)
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- 1. What is a target market? Why is it important to know the target before creating the marketing mix? 2. What is market research? Why is it important to do research before you start a business?arrow_forwardHow can a marketing researcher ensure that the sample used in a research study is representative of the target population, and why is this important in evaluating the research process? What are some common biases that can affect the results of market research, and how can these be mitigated to ensure accurate and reliable data?arrow_forward1.Assume that you are a Marketing Manager and your company wants you to deploy an efficient Marketing information system. Explain how marketing intelligence will help in collecting information?arrow_forward
- Your company recently launched a new “dry” shampoo. Although initial sales were strong, they have steadily declined over the last year and a half. You have decided to conduct further market research, but first, you have to define the research problem. Prepare a short report that clearly and fully defines the research problem for your productarrow_forwardIn what ways does a market research firm use its advantages to help its clients?arrow_forwardWhat are the ways in which market research need to be carried out for your product?arrow_forward
- What impact has the Internet had on how marketing research is conducted? What advantages does the Internet provide over traditional marketing data collection methods?arrow_forwardBelbin Beverages Ltd flagship product, a honey flavoured beer targeted to women in the age bracket 21 to 40 have been experiencing slow sales over the past year. However, Belbin’s other beer products have continued to perform well. Your task is to conduct marketing research todetermine whether the product should be continued.You must write a report about the marketing research process and your findings.Your report should include:1. A definition of the problem and one research objective2. A descriptive research survey approach. This includesa. Objectives of the survey ( define at most three objectives)b. Details about the Survey approachc. A questionnaire (with at least 10 questions) that links to the research objectived. How the survey was administered (be specific regarding the amount of workers involved, the place/s and time/s)2. An analysis of the data presented graphically (use fictitious/self created data) 3. A presentation of the findings and conclusionarrow_forwardPART 1: Choose one company that offers multiple products or services. For example: Gap Inc has Old Navy, The Gap, and Banana Republic PART 2: Imagine that this company is looking to launch several marketing campaigns throughout 2022 and they need to know what types of campaigns would be most effective. You are responsible for comparing TWO existing product/service customers so the marketing campaigns will have the biggest impact. What kinds of research methods would you use to get that information (You should name at least 3)? Why would you use these methods?arrow_forward
- Marketing Research What is the first step in conducting a marketing research project? Why is it important to define the marketing research problem appropriately? What are the common types of errors encountered in defining a marketing research problem? Does the healthcare environment make defining the research problem more or less difficult? Why? resources should be supported by research from scholarly peer-reviewed resources.arrow_forwardPART 1: Choose one company that offers multiple products or services. For example: Gap Inc has Old Navy, The Gap, and Banana Republic PART 2: Imagine that this company is looking to launch several marketing campaigns throughout 2022 and they need to know what types of campaigns would be most effective. You are responsible for comparing TWO existing product/service customers so the marketing campaigns will have the biggest impact. What kinds of research methods would you use to get that information (You should name at least 3)? Why would you use these methods? thnkyouuuuuuuuuuuuuuuarrow_forwardwhat product can you buy with 250 dollars ? What product did you buy? What prompted you to believe you needed the product? How did you initially research the product? Did you look at product reviews? Where did you find the reviews? What sentiments in the review influenced you? What thoughts went through your head when deciding what alternatives to research—or whether to research at all? What were some of your purchase criteria? What did you base your evaluation on? What are some other potential influences that affected which product you ultimately purchased? Friends and family? Past behavior? What do you know about the brand? How satisfied were you with the purchase? Would you make the same purchase again? Why or why not? Would you post a review about the product? Where would you post it?arrow_forward
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