User Account

All Pages

Define the five-step marketing research approach

Assignment Help Marketing Management
Reference no: EM132173242

Question: Scenario: You are the founder and CEO of a Marquette, Michigan retail clothing e-commerce business that derives its revenue from several customer types such as tourists, snowmobilers, ATV 4-wheelers, hikers, boaters, kayakers, skiers, craft beer aficionados, Northern Michigan University students and the local citizenry. The name of your enterprise is Upper Peninsula Supply Co.. You also have a brick-and-mortar store on Marquette's main shopping street. You have noticed a recent troubling decline in online and brick-and-mortar sales which is threatening your organization's ability to survive and grow. You have decided to implement the Five-Step Marketing Research Approach to help clarify the problem and develop the remedial strategies necessary to resolve the problem.

Develop a 1,050-word plan using the scenario above and employing the Five-Step Marketing Research Approach concepts in which you detail the steps you will use to determine the marketing problem that your organization is facing.

Address the following in your role as Upper Peninsula Supply Co's CEO:

• Define the Five-Step Marketing Research Approach and discuss the importance of research in marketing.

• Describe each stage of the Marketing Research Approach and explain how each stage should be implemented to generate the information needed to eventually make the best remedial strategic decision to solve the declining revenue problem.

• Define the target market that you are striving to attract to your organization. What demographics, lifestyle (psychographics) and behavior do your various customer types and potential customer types share and describe the method of research that you could use to further refine your target market definition.

• Define product differentiation. Provide an example that illustrates how your enterprise can use differentiation to help increase the target market's interest.

• Explain how this differentiation can help re-position the Upper Peninsula Supply Co. as perceived by your target market and generate incrimental revenue.

• Note: This assignment requires the student research and understand the Upper Peninsula Supply Company business model based on the information presented at its website, the Marquette, Michigan marketplace, and the competition.

• Note: Please use the bullet-point assignment requirements as subheads within your paper.

• Note: The auto-rubric will not be used for this assignment. A grading guide has been provided.

Reference no: EM132173242

Questions Cloud

What is the primary purpose of a paired discussion : A role play activity is a good choice for developing this (National Health Education Standard) skill.
What are the support values of the preceding itemsets : a. What are the support values of the preceding itemsets? b. Assuming the minimum support is 0.05, which itemsets are considered frequent?
Describe the sources available for asset management : Write a 700- to 1,050-word paper that addresses the following items from the case study: Describe the sources available for asset management
Create an orientation program for newly admitted students : Parker Online Community College (POCC) is situated in suburban Virginia and educates approximately 3,000 students.
Define the five-step marketing research approach : Define the Five-Step Marketing Research Approach and discuss the importance of research in marketing. Describe each stage of the Marketing Research Approach.
Different terms in acceptance without making acceptance : Different terms in the "acceptance" without making the acceptance expressly conditional on assent to the additional or different terms?
What is the subject matter shown in each work : What is the subject matter shown in each work? What is the belief system or faith represented in each work?
What are some of the new products and services : If marketers "think local and act local," what are some of the new products and services that are likely to emerge from Africa in the next few years?
Making forecast for the demand for widgets : A supply chain analyst for UNG, Inc. was evaluating two methods for making a forecast for the demand for widgets.

Reviews

Write a Review

Marketing Management Questions & Answers

  Integrated marketing communication

Developing an IMC plan of Amazon that aims to create awareness and knowledge amongst Singaporean  consumers of the ethics involved in buying clothing made from Bangladeshi factories  .

  Multiple choice questions on e-commerce

The assignment in Computer Science or Information Technology is about multiple choice questions, particularly in e-commerce. Questions such as types of e-commerce websites, commercial websites, disintermediation, Platform for Piracy, the data that ca..

  Balanced scorecard for red lobster

The assignment in marketing is about Red Lobster, which is one US and Canada's most loved seafood restaurant. It has hundreds of outlets in US and Canada and it now wants to expand further. The approach adopted by Red Lobster has been discussed in fu..

  Marketing plan - marketing audit, swot and smart report

The assignment in marketing is about preparing a marketing plan. As part of marketing plan, the SWOT analysis, assessing the competitive position, identifying critical competitive issues, marketing objectives, strategy and actions have been suggested..

  Marketing plan

Marketing deals with preparing a marketing plan for either an existing product or a new product. Various aspects about launching a new product into the market are discussed ranging from the industry the product belongs to, goals and vision of the com..

  Yamato corporation analysis - harvard case study

Please refer to the PDF for the Case Study and questions.The case study from Harvard Business School is about Yamato Corporation, a parcel delivery company which provides door to door delivery in Japan.

  Marketing plan - create a new product

The assignment in marketing is about competitive analysis for a new product namely "heated insoles". These heated insoles can be put in shoes and they can protect the wearer's feet by keeping them warm during cold winters.

  Report on digital marketing strategy for a website

Promotion strategies of  the one's own developed website

  Integrated marketing campaign of mccafe

Integrated marketing campaign for McDonald's McCafe. McCafe has been launched in Canada. This is a case study which involves the use of digital marketing and social media marketing apart from regular marketing such as TV and radio. All these more are..

  New product development at adidas

In this paper, the researcher also determines the different kind of practices used by Adidas to manufacture shoes for its customers.

  Managing services in competitive environment

Services can be defined as separately identifiable, intangible activities which provide want-satisfaction when marketed to household consumers and/or industrial users.

  Prepare a marketing plan

A marketing plan is an essential tool for any marketer, providing direction for a brand, product or organization. A marketing plan describes the marketing environment, marketing objectives and marketing strategies.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd