marketing project and need the explanation and answer to help me learn.
So far, you have seen some examples of companies that have needed to conduct marketing research in order to make some sort of business decision. Now it is your turn. Determine a company, currently in the news, that could use market research. Make sure it is a company and situation that you can find enough details on for our semester long project. When choosing your idea, think about marketing opportunities or failures that you’ve noticed in the news lately. You will be writing a marketing research proposal to help that company make a business decisions. Past examples of projects have included new products or band extensions, companies moving into new geographic territories, product service failures, data leaks, etc.
For this section of the project, you will be writing in essence the first few “sections” of your full marketing research report. You will need to submit to me a report detailing the following:
The need to conduct marketing research
This section includes the history or “how we got here” for your intended company/situation
An explanation of why or how a full marketing research report will benefit the company. Make sure a report is appropriate given time or cost constraints. Assume that the necessary information is not already available
Define possible decision alternatives and identify responsible stakeholders or decision makers
Define the problem
Is the problem a failure to meet an objective: a gap between what was supposed to happen and what did happen?
Is the problem an opportunity: a gap between what did happen and what could happen
Define some symptoms of the problem; describe key monitors or measures that define success
Determine some probable causes to the symptoms
Determine what you, as a researcher, think is the probable cause
Define the research objective
From whom is the information to be gathered?
What information is needed?
What constructs are to be tested?
Suggest some word questions that might be utilized
(Do not worry about units of measurement or type of research design for this assignment)
As with the other assignments, this should be a comprehensive document that you would share internally to decision makers at this company or to a hired research firm. As a reader, all the relevant details about the “case” and the pertinent marketing planning should be included in the document. Imagine a VP with no marketing research knowledge deciding to take on this project. That is the level of detail that should be included.
Requirements: depends on the question