...organization uses marketing research to contribute to the development of its marketing plans Market Research: Market Research is a systematic, objective collection and analysis of data about a particular target market, competition, and/or environment. It always incorporates some form of data collection whether it be secondary research (often referred to as desk research) or primary research which is collected direct from a respondent. The purpose of any market research project is to achieve an increased understanding of the subject matter. With markets throughout the world becoming increasingly more competitive, market research is now on the agenda of many organisations, whether they are large or small. Marketing Plans: Product specific, market specific, or company-wide plan that describes activities involved in achieving specific marketing objectives within a set timeframe. A market plan begins with the identification (through market research) of specific customer needs and how the firm intends to fulfil them while generating an acceptable level of return. It generally includes analysis of the current market situation (opportunities and trends) and detailed action programs, budgets, sales forecasts, strategies, and projected financial statements. Primary internal research: where the business conducts their own research internally - inside of the business. For example conducting interviews/questionnaires with the staff within the business. Primary external research where the...
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...Running head: MARKETING RESEARCH PAPER Marketing Research Paper Name University Marketing Research Paper – Kudler Fine Foods Gathering reliable information is a crucial activity before the deployment of a rewarding marketing plan. Kudler Fine Foods is a specialty grocery store located in the San Diego Metropolitan area that focuses on high-end food products. The company hopes to expand its scope of operations and boost the loyalty of its customer base. In order to achieve these goals, the company will conduct marketing research to identify opportunities and threats that exist in the external environment (Staff 2012). Marketing research can be defined as the process of collecting custom data and competitive intelligence that will enable managers to make value-adding decisions. The following paper will analyze the importance of marketing research as it relates to the business plan of Kudler Fine Foods. Areas that Require Additional Marketing Research Kudler Fine Foods has enjoyed a high rate of success in the regional grocery store industry, but there are areas of weakness in the business model that must be explored. Currently, the company is only taking advantage of newspaper advertisements in the local area to run sales. The importance of newspaper as a marketing medium is rapidly diminishing for many businesses. Younger generations of consumers do use printed newspapers to obtain information in their daily lives – rather they opt to use social media, mobile technology...
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...Social and Personal Factors The goal of marketing Froyo Loco in El Paso is to make sure that the service meets and satisfies the targeted customer’s needs and wants better than the local frozen yogurt shops already established in the area. In order to accomplish this task, we must look at the potential customer base and understand how they live in order to ensure we reach our targeted consumer. This analysis will define what cultural, social and personal factors are likely to most influence consumer purchasing of Froyo Loco products and services. Cultural Factors El Paso, Texas is located on the most western tip of Texas and shares a border with Mexico and New Mexico. According to facts found at the Center for Interdisciplinary Health Research and Evaluation for University of Texas at El Paso (UTEP), “The majority (80%) of El Paso's population is Hispanic and many people are fluent only in Spanish”(2011). The large Hispanic population of El Paso will be the major cultural factor to consider when marketing Froyo Loco. Social Factors In addition to cultural factors, social factors must be taken into consideration. Two primary membership groups will influence the marketing of Froyo Loco. The first membership group to consider is the families of El Paso as they will be the main target consumer for the cafe. Another membership group that must be analyzed is the college students attending UTEP. Since previous research identifies that there is only one frozen yogurt...
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...Brand Management Assessment 1 Kevin Lane Keller is the E. B. Osborn Professor of Marketing at the Tuck School of Business at Dartmouth College. Professor Keller has degrees from Cornell, Carnegie-Mellon, and Duke universities. At Dartmouth, he teaches MBA courses on marketing management and strategic brand management and lectures in executive programs on that topic. Previously, Professor Keller was on the faculty of the Graduate School of Business at Stanford University, where he also served as the head of the marketing group. Additionally, he has been on the marketing faculty at the University of California at Berkeley and the University of North Carolina at Chapel Hill, been a visiting professor at Duke University and the Australian Graduate School of Management, and has two years of industry experience as Marketing Consultant for Bank of America. Professor Keller's general area of expertise lies in marketing strategy and planning. His specific research interest is in how understanding theories and concepts related to consumer behavior can improve marketing strategies. His research has been published in three of the major marketing journals -- the Journal of Marketing, the Journal of Marketing Research, and the Journal of Consumer Research. He also has served on the Editorial Review Boards of those journals. With over sixty published papers, his research has been widely cited and has received numerous awards. Professor Keller is acknowledged as one of the international...
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...Direct/Interactive Marketing Research Summit Proceedings August 31, 2012 Andrew J. Rohm Associate Professor, Marketing Department, College of Business Administration, Loyola Marymount University, Los Angeles, CA, arohm1@lmu.edu George R. Milne Professor, Marketing Department, Isenberg School of Management, University of Massachusetts Amherst, Amherst, MA, milne@isenberg.umass.edu Velitchka Kaltcheva Associate Professor, Marketing Department, College of Business Administration, Loyola Marymount University, Los Angeles, CA, velitchka.kaltcheva@lmu.edu Researchers have noted the importance of generating more effective brand-consumer engagement with respect to increased profits, customer satisfaction, and customer loyalty (Palmatier et al. 2006). Customer engagement is defined as active interactions with a firm, with prospects and with other customers (Kumar et al. 2010). We focus on engagement because consumers’ interactions with brands are now more similar to a multi-party conversation than to a brand-dictated monologue (Deighton and Kornfeld 2009; Hennig-Thurau et al. 2010). Social media platforms including Facebook and Twitter have become integral elements for companies and brands seeking to develop intimate online customer relationships; conversely, they provide consumers an online “soapbox” with which to publish and disseminate personal evaluations of products and services (Chen, Fay, and Wang 2011). The growth in social media activity related to peer and...
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...ARTICLE REVIEW Source Yoo B, Donthu N, Lee S. (2000), ‘An Examination of Selected Marketing Mix Elements and Brand Equity’ Journal of the Academy of Marketing Science, 28;195 viewed 2 January 2016, http://jam.sagepub.com/cgi/content/abstract/28/2/195 Introduction This review critically examines the article ‘An Examination of Selected Marketing Mix Elements and Brand Equity’ Journal of the Academy of Marketing Science. The review will first summarize the article. Secondly, it analyzes the effectiveness of the article structure, investigating how the information is set out and whether the reader can access it efficiently. Thirdly, the review will critique the article, evaluating its authority,...
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...MARKETING (WH) {MKTG} L/R 101. Introduction to Marketing. (C) Niedermeier. The objective of this course is to introduce students to the concepts, analyses, and activities that comprise marketing management, and to provide practice in assessing and solving marketing problems. The course is also a foundation for advanced electives in Marketing as well as other business/social disciplines. Topics include marketing strategy, customer behavior, segmentation, market research, product management, pricing, promotion, sales force management and competitive analysis. 211. (MKTG773) Consumer Behavior. (C) Cutright, Reed. Prerequisite(s): MKTG 101. This course is concerned with how and why people behave as consumers. Its goals are to: (1) provide conceptual understanding of consumer behavior, (2) provide experience in the application of buyer behavior concepts to marketing management decisions and social policy decision-making; and (3) to develop analytical capability in using behavioral research. 212. (MKTG756) Marketing Research. (C) Shen, Eliashberg. Prerequisite(s): MKTG 101, STAT 101. Students are highly encouraged to take statistics in the semester immediately preceding this course. This course examines the role of marketing research in the formulation and solution of marketing problems, and the development of the student's basic skills in conducting and evaluating marketing research projects. Special emphasis is placed on problem formulation, research design, alternative methods...
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...coordination within the company’s operations. 4. The company is experiencing a decrease in sales and profits. 5. There are operational conflicts within the major departments. 6. There is no uniformity of command. B. Micro: 1. The existing structure cannot adequately coordinate complex projects. 2. Sales executives tend to question the sales estimates issued by the product managers. 3. The coordination between marketing and the new product development department is insufficient. 4. The product development division is experiencing problems with the marketing division. 5. The product manager has been unsuccessful in coordinating the activities. 6. The company is having difficulties in producing a team concept within the departments. II. Causes 1. The product development division was given responsibility for market research, but the tasks of sales analysis and forecasting remained in the marketing division. 2. For each separate group of products, a project manager was appointed who was responsible for the coordination of all company activities for the product. 3. Estimates are usually based on the total product market rather than on Exley’s share, which often tends to inflate sales estimates. 4. Implementation of separate divisions to handle product development has disrupted the previous cohesive interaction between prior existing divisions. 5. The company realizes that there was a need to move a product development department closer to the production line...
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...Marketing is an expansive area of expertise that encompasses many different areas, skills and job descriptions. According to Merriam-Webster, broken down to its basic form, marketing is defined as: “The activities involved in making people aware of a company’s products and making sure that the products are available to be bought.” Working in a marketing position involves showcasing a company in a positive light, showing why customers should purchase products and drawing in a targeted audience to consider goods and services. But what does a marketer do? Unfortunately there isn’t one set job description for everyone in this position. But we connected with marketing pros to give you a sneak peek at three common types of marketing. Taking a closer look at these options will help you determine if this field is right for you. 1. Digital marketing Digital marketing is just what it sounds like: marketing that’s gone digital! This type of marketing utilizes the internet and all things technology to get the word out about products, services or companies. Digital marketing has a slew of benefits, according to Don Crow, CEO of Verge Pipe Media. He says two of the most obvious advantages are scale and cost. “Considering 70 percent of all phones today are smartphones, it's increasingly important that brands and organizations think about how to connect with consumers on this increasingly important digital device,” Crow explains. There are many jobs that fall under the umbrella...
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...Project To, Marketing Director VisionTech Kind Attn: Ms. Kara Rose Dear Ma’am, This is in reference to the meeting we had on 31st August 2011. I have prepared the following document as per your requirement. Vision Tech is developing a new Vision system for Pharmaceutical companies which will save countless lives. The objective of this technology is to inspect drug labels to ensure they contain the proper information to meet the ever evolving governmental standards. This technology is a high resolution camera and the product development process for the same is explained by a Work Breakdown Structure which will be essential in developing and designing the product from concept to development. The Project team will ensure that new product development process is going through the right stages and we will continue the process by gathering the requirements for the project and analyze them with the help of Marketing, Research & Development and design/testing team. The following Work Breakdown structure is created and developed after meeting and discussing the product concept and design with Marketing Director, Kara Rose and R& D Director, Jessie Megana. The WBS will give a breakdown of activities involved in the product development process. These activities will be carried on until we reach the selling phase. WBS WBS 5.0 Sales 5.0 Sales 4.0 Development/IT 4.0 Development/IT 3.0 Design 3.0 Design 2.0 R & D 2.0 R & D 1.0 Marketing 1.0 Marketing ...
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...Southern Methodist University Cox School of Business MKTG 6223-021 Analytic Methods for Understanding What Consumers Value 195 Crow Thursdays 2-4:50 pm Spring 2011 Professor William R. Dillon 210A Fincher 214/768-3163 Email: bdillon@mail.cox.smu.edu Office Hours: Thursday 1-2 pm and by appointment Course Description Determining what is valued and the importance of product features and service offerings is perhaps the most important issue that marketing managers face. Recently, conjoint and choice models have become popular techniques to help marketing managers understand what customers value. The objective of this course is to expose the student to a variety of preference models used by brand managers and marketing analysts and to give students hands-on experience in using conjoint and choice modeling techniques. This course examines these marketing decisions using a combination of lectures, cases, and exercises. Learning Objectives: 1) Develop an understanding of consumer decision making frameworks and protocols. 2) Learn how to design and analyze choice/conjoint experiments so as to quantify the importance consumers place on specific attributes/ benefits. Course Material Readings, Lecture notes, Case Exercises and Situation Analysis directions are available on Blackboard at https://courses.smu.edu/webapps/login/ . Evaluation Exam 40% Quizzes 35% Simulation Exercise 25% 100% Please...
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...A PROJECT REPORT ON MARKETING RESEARCH &SALES PROMOTION WITH REFERENCE TO CIPLA LTD [pic] A PROJECT REPORT SUBMITTED TO THE Osmania University Hyderabad in partial fulfillment for the award of the degree of MASTER OF BUSINESS ADMINISTRATION Submitted BY M.RAMBABU (Roll No: 04808140) DEPARTMENT OF MANAGEMENT STUDIES St.Mary’s P.G COLLEGE Deshmukhi, Nalgonda Dist Andhra pradesh (2008-2010) A PROJECT REPORT STUDY ON MARKETING RESEARCH & SALES PROMOTION Submitted BY M.RAMBABU [Roll. No: 04808140] St.Mary’s P.G COLLEGE Deshmukhi, Nalgonda Dist Andhra Pradesh. In partial fulfillment for the award Of Master of Business Administration DEPARTMENT OF MANAGEMENT STUDIES St.Mary’s P.G COLLEGE Deshmukhi, Nalgonda Dist Andhra pradesh (2008-2010) DECLARATION I here by declare that the project titled “marketing research &sales promotion WITH SPECIAL REFERENCE TO CIPLA LTD”, HYDERABAD, submitted to ST.MARY’S P.G COLLEGE, in partial fulfillment of the requirement for the award of the degree of “Master Of Business Administration” DATE: PLACE: (M.RAMBABU) ACKNOWLEDGEMENT The satisfaction and euphoria that I feel after the successful completion of my project would be incomplete...
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...Time Pressure, Time Saving and Online Shopping: Exploring a Contradiction Pamela L. Alreck, Gerard R. DiBartolo, Memo F. Diriker and Robert B. Settle Marketing Educators Research Group - Franklin P. Perdue School of Business Salisbury University, Salisbury, Maryland USA ABSTRACT Previous survey research revealed that consumers perceived online shopping and buying to be a time saving practice. Paradoxically, they only rarely reported using that tactic to save time, introducing a contradiction. Focus group research and unstructured interviews among active, time-pressured consumers provide partial solutions to the puzzle. Two types of online shopping benefits appeal to two types of consumers: Those experiencing situational time pressure respond well to "time-saving" appeals. Another, larger proportion, whose personal inclinations or personality traits result in time pressure are more interested in doing more tasks quickly or engaging in polychronic activities. These findings suggest online merchants simultaneously promote both time-saving and quicker accomplishment of more tasks. Though they are two sides of the same coin, time-pressured consumers tend to see only one side or the other. Both types of time-pressured shoppers eschew Websites requiring substantial "up-front" investment of time; complex, multioption initial or home pages, and early insistence for "registration" that requires revealing personal information. This suggests clean, clear, uncluttered introductory pages...
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...Check Your Understanding: 1. A marketing intelligence system is a set of procedures and sources managers use to obtain _________. A marketing intelligence system is a set of procedures and sources managers use to obtain “everyday information about developments in the marketing environment.” (Kotler & Keller, 2009, p. 69). 2. A trend is _________. A trend is “a direction or sequence of events that has some momentum and durability.” (Kotler & Keller, 2009, p. 72). 3. _________ shapes the beliefs, values, and norms that largely define tastes and preferences. “Society” shapes the beliefs, values, and norms that largely define tastes and preferences. (Kotler & Keller, 2009, p. 80). 4. The last step in the marketing research process is _____. The last step in the marketing research process is “the researcher presents findings relevant to the major marketing decisions facing management.” Therefore, the last step in the marketing research process is “Step 6: Make the Decision” (Kotler & Keller, 2009, p. 103). 5. Research that is designed to capture cause-and-effect relationships by eliminating competing explanations of observed findings is called _____. Research that is designed to capture cause-and-effect relationships by eliminating competing explanations of observed findings is called “experimental research” (Kotler & Keller, 2009, p. 95). 6. _____ is a coordinated collection of data, systems, tools, and techniques with supporting software and hardware by which...
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...RESEARCH DESIGN OPENING QUESTIONS 1. What is a research design and what are the kinds of basic research designs? 2. How can the basic research designs be compared and contrasted? 3. What are the major sources of errors in a research design? 4. How does the researcher coordinate the budgeting and scheduling aspects of a research project? 5. What elements make up the marketing research proposal? 6. What factors should the researcher consider while formulating a research design in international marketing research? 7. How can technology facilitate the research design process? 8. What ethical issues arise when selecting a research design? AUTHOR’S NOTES: CHAPTER FOCUS This chapter provides an overview of research design. A definition and a classification of research designs are presented. The differences between exploratory and conclusive research designs are discussed. The three basic types of research designs, namely exploratory, descriptive, and causal, are described and a comparative analysis of these designs is presented. The potential sources of errors in research designs are covered in some detail. The budgeting and scheduling of a marketing research project, as well as the preparation of a marketing research proposal, are covered. This chapter is similar to competing texts with regard to the material on the basic types of research designs. It is different in that it presents a comparative analysis of these designs and also gives a unified treatment...
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