Reference no: EM131701004

Part 1

In the Marketing Memo, Questionnaire Dos and Don'ts on page 108 of the textbook, the author lists 12 ways to phrase questions that will maximize unbiased responses.

You are at the stage of your marketing plan where you are trying to understand what unmet needs might exist for products or services. Maybe you're even trying to understand how consumers think and feel about the companies in which you want to work as CEO. Market research is called for.

Prepare a set of 8 - 10 questions that you would ask consumers in order to try to understand more about a company you are targeting or a product or service idea that you have.

Use at least 3 of the question types listed in table 4.1 on page 107 (closed ended or open -ended, multiple choice, Likert scale, importance scale, etc), although you may use more.

Make sure that your questions meet each one of the12 criteria listed in the Marketing Memo on page 108.

How difficult a task was this for you? Why?

Part 2

In part 1, you completed a PESTEL and SWOT analysis on Any University to identify growth opportunities for University.

In week 2, you will write a one page essay describing one or two key growth opportunities for the firm on which you are writing a marketing plan.

It is important to state why you believe these are opportunities - what did you find in either an internal or external analysis that supports your ideas.

Part 3

Companies find good ideas by researching competitors' products and services. Select one consumer product category with which you are familiar, either because you or a family member or friend purchase it or use it frequently (for example: shampoos, carbonated beverages, snack foods, baked goods-- if you have a question about whether the category qualifies, just ask).

Suggest one incremental innovation that you would like to see for the product/category chosen. For example, would you prefer a different form of bottling for shampoos? A different flavor for soft drinks-cola flavored chips, for example. Do any of the items in your research have glaring weaknesses as in its cleaning properties, smell, or taste that a company can improve upon?

Link your suggestion to an unmet consumer need. State why you think others might have this same need?

Why is competitive research so important for companies to undertake?