Define the research problem or challenge

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Reference no: EM132880857 , Length: word count:800 words

Assignment -

Scenario - You are now ready to learn more about the business, refining and researching the central questions or areas you identified in your engagement letter and more. You will need to understand factors including the service, geographic area, customers, competition, and pricing. Your findings will inform your marketing plan.

Your plan is to create a three-page primary market research document that:

- Outlines your methodology.

- Identifies source material.

- Includes relevant data on the topics above and your research area and research questions.

- Draws actionable conclusions that inform the marketing plan.

Preparation

1. Review your textbook chapters 15-17.

2. Define your central research area/questions. What questions should you be asking? How and where should you spend your efforts?

3. Identify resources that will likely help you answer your questions.

4. Download and review the Market Research Template [DOCX]. You will use it to complete this assignment.

Instructions - Conduct your primary market research and document using the Market Research Template. The completed document should do the following:

Define the research problem or challenge. (It should state the elements, questions, or problems that your research is designed to resolve)

Summarize your overall research approach, focus, and methodology (How will you obtain the information/data).

Present data (and its sources) that supports answers to your main research questions and stated challenge in an effective manner. It should minimally include data on:

The 4 P's of Marketing.

- Product (in this case, service).

- Price.

- Placement.

- Promotion.

Competitors.

Number, services, location, market share, etc.

Customers.

Demographics, location, income, education, etc.

Synthesize your research: Describe and prioritize two or three research conclusions that will likely guide your marketing plans. Make sure to highlight and summarize pertinent information from your sources that support your conclusions.

The specific course learning outcome associated with this assignment is: Conduct market research to inform marketing strategy and planning.

Note - Need 800 words paper + references with in-text citations.

Reference no: EM132880857

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