Tag: Marketing Research

Marketing research

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Marketing research is conducted to collect, record, analyze, and interpret data relative to your business market and product category. Global market research is done with the same purpose; however, the scope of the research is for organizations conducting business on a worldwide scale.
Read this article comparing domestic market research and international market research: The 8 Major Differences Between Domestic and International Market Research
There are many tools available for market researchers online. One of these tools is Google Trends. Please access Google Trends to learn more about how this site works.
Enter the search term “baby formula”. On the results page, make note of the trends in the United States. Select Worldwide. Make note of the trends worldwide.
Another tool is Statista. Access this site and enter the search term “baby formula”. On the results page, make note of the search results categories.
Finally, another free tool is the Google Dataset Search. Access this site and enter the search term “baby formula”. Make note of the type of data available within this tool.
Using what you have learned from these sites, use the following questions to guide your writing:

Explain the types of information you can find using each marketing research tool.
Analyze and explain the purpose of using each of the marketing research tools.
Explain which of these tools you would use to determine where the greatest need for baby formula is. Provide evidence from the tools to defend your position.
Explain why it is important to utilize more than one tool to determine marketing opportunity for brands?

 

 

Marketing research

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Scenario: Imagine you are an international business researcher. You have been hired by a Canadian business which is considering expanding internationally. They have narrowed the choice down to a few key markets and have asked that you provide some insight as to which market they should choose for their expansion. You should provide your recommendations in the form of an exploratory market research report.

Details: You choose the product the company exports (Apparel/Beer/Chocolate etc.) and which country you are going to investigate on their behalf. Your report should contain the following sections:

Market Intelligence: Political stability, Ease of doing business, Currency Risk, Trade Relationship with Canada

Customer Intelligence: Demographics of the market including potential market size/scope

Competitive Intelligence: Local Industry description and SWOT analysis of at least 2 major competitors

Recommendations: What should the export market strategy be for the company if they choose to enter this market?

Marketing Research

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Select a non-chain/non-brand hospitality, travel or tourism business (individual hotel, single restaurant, bakery, night club, brewery, winery, distillery), travel company (regional/charter airline – not a mainline carrier, yacht service – not a cruise line, tour operator, individual travel agency – not an OTA) or tourism organization’s (CVB, DMO, local attraction – not Disney or Universal) web site for review.

Using the textbook and any other supplemental material provided throughout the course, prepare a concise/brief 2 – 3 page written document (using APA style formatting), identify what you find in the company’s website related to the following marketing considerations:

Section One (20 points)
Company Name

Web site address (URL)

Section Two (30 points)
Identify and explain how the core marketing concept of the 4 P’s is represented/reflected in the information presented by the company in their web site:

Product (What evidence in the web site shows the company’s core, facilitating, supporting and augmented products?)
Price (What information is conveyed through the web site that demonstrates the value proposition offered by the company?)
Place (What are the channels of distribution indicted on the web site through which the product can be obtained?)
Promotion (What are the advertising, public relations, sales promotions and personal selling aspects reflected in the web site?)
Section Three (30 points)
Describe the target marketing strategy (positioning) that’s apparent in the company’s web site, and evaluate and specify to which market segment(s) the web site’s information (appeal) is directed.

Section Four (30 Points)
Identify the evident resources (tools) that are integrated into the web site that enable data gathering and market research about visitors to the site.

Section Five (30 points)
Analyze which micro and macro environmental influences are specifically addressed by the information included in the web site. Share an example of one factor from micro and one from macro that are highlighted or mentioned in the information presented. State whether the website utilized this information effectively or ineffectively.

Section Six (30 points)
Differentiate between how the company markets its services on the web site, versus how a manufactured good would be marketed, by identifying their approach to:

Intangibility (How does the web site appear to overcome the intangibility factor?)
Inseparability (What is presented in the web site that connects the target market with the experience?)
Variability (How does the web site convey that there is consistency in experience delivery?)
Perishability (What elements within the web site convey urgency for the target market to take action?)
Section Seven (30 points)
Assess and summarize how well this web site incorporates and represents the marketing concepts and principles covered throughout the course. Provide AT LEAST ONE suggested improvement that could be made to enhance its effectiveness. IMPORTANT: Identify the marketing concept or theory that led to your suggested improvement.