Principles of Marketing
By now you should know the basics of marketing research from the materials Tess and Maddie loaded for Jack. In this week’s discussion you’ll be designing a short market research plan for the product you selected for your marketing project. You’ll follow the same basic process we covered in the research materials that looked like this: The product I decided was the Teen driving Tracking Device- I decided to choose the device for tracking down teen drivers because it’s convenient for making sure that teens stay off of their phones while they are driving and makes things much safer for them and other people on the road. We all know teens can make dumb decisions while they are driving so this device will keep them in check. So please write something on Teen Driving Tracking Device!
Define the business problem.
Convert that business problem to a research question
Determine segment and sampling technique
Select which type of research will work best for our question
Analyzing our results
Reporting our results
1. In this week’s scenario Tess described the business issues that Jack is concerned about. Using those as a starting point identify TWO business problems you might have with your project.
2. Next, convert those business problems to research questions. What are specifically trying to learn as a result of your research project?
3. Describe the customers you will target for your research and the sampling technique you will use. Make sure you are clear how you will use it and why you chose it.
4. Describe what types of research techniques you will use. Identify ONE secondary source and describe how you will use it and why you chose it. Select ONE primary research technique and describe how, and why, you will use it.
5. Write a one paragraph memo describing how you plan to report your finding. Think about the memo that Monique wrote to the students – how can you make your report accurate yet easy to understand?
Your post should be no less than 350 words and well organized. As always, spelling and grammar will count. In your response to two of your classmates, critique their research plan and offer any suggestions you may have. Responses that lack insight and critical analysis, such as “Great plan” will receive few points. Be fair, professional and supportive. If you wish, you may also revise your own plan by incorporating their ideas. Collaborative responses are fine.
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Teen driving track device
Business problem
My primary business problem with my project is creating awareness to the public about my product. As you know, when a new product is invented into the market, there are very few people who usually know about the product. Therefore, making the product known to the public or buyers is usually difficult (Kotler & Gertner,2002).
(674 words)