Marketing Research Paper Principles
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Marketing Research Paper Principles
View “American Factory,” a film created by President Barack Obama and Michelle Obama, on Netflix or YouTube. Design market research from the information gathered from the movie using the procedures in the market research process. Follow the instructions to determine whether or not market research is required. Outline all aspects of the process as they pertain to the documentary in a proposal format (minimum 2 pages, single space, cover and reference page). Answer the following questions in a unique way:
What exactly is the issue?
What kind of study will you carry out?
What kind of information will you gather?
What approaches (tools) will you employ to carry out your research?
What is the demographic of the people you want to reach?
Requirements: DetailedSUMMARY OF THE LECTURE
I. Marketing Research’s Importance
A. Marketing research is the systematic planning, collecting, interpretation, and reporting of data to assist marketers in resolving specific marketing problems or exploiting marketing opportunities.
1. It’s a method of acquiring data that decision-makers don’t have access to right now.
2. Marketing research is used to inform a company about its consumers’ wants and desires, marketing potential for specific goods and services, and changing customer attitudes and purchase patterns.
B. Marketing research may assist a company in better understanding market prospects, determining the viability of new product launches, and determining the feasibility of a marketing plan.
C. Marketing research is utilized by a variety of companies to assist in the development of marketing mixes that are tailored to the needs of their clients.
D. As the economy has transformed, marketers’ decision-making processes have shifted to a greater emphasis on small-scale surveys and short-term forecasts. To survive and respond rapidly to changing consumer behavior, businesses require speed and agility.
E. Improvements in a marketer’s capacity to make decisions are the true measure of marketing research’s worth.
1. Marketers should treat information in the same way they use other organizational resources, weighing the costs of gathering data against the advantages gained.
2. Information is valuable if it leads to marketing efforts that improve the business’s ability to satisfy its target customers, increases sales and profits, or assists the organization in achieving some other goal.
II. Research Methodologies
A. Depending on the research strategy and hypotheses under inquiry, the nature and type of research changes (see Table 5.1).
B. There are two forms of data in marketing research.
1. Non-numerical descriptive information is derived from qualitative data.
2. Quantitative data provides empirical information that can be expressed numerically.
C. Investigative Research
1. Marketers undertake exploratory research when they require more information about a problem or wish to narrow down a speculative idea.
2. A growing number of businesses are forming customer advisory boards, which are small groups of actual customers that provide feedback on a company’s products, promotions, pricing, and other marketing strategies.
3. A focus group is a gathering of people who meet informally to discuss a topic in a group setting with the help of a moderator.
a. Focus groups enable for flexible and creative exploration of customer attitudes, behaviors, lifestyles, requirements, and desires.
b. They can help organizations come up with fresh product concepts or conduct preliminary testing of various marketing techniques for existing products.
c. Online focus groups, in which participants log in to a website and input their comments and responses, are a contemporary trend.
(1) Online focus groups can collect data from big, geographically varied populations with less effort than traditional focus groups.
(2) This strategy makes asking participants about a product’s scent or taste, as well as observing nonverbal cues and body language, more challenging.
d. Focus groups have a few drawbacks, such as participant personality concerns and challenges generating honest input.
Focusgroups are therefore best used to highlight concerns that may then be investigated utilizing measurable marketing research approaches.
D. Research that is conclusive
1. Conclusive research verifies insights using an objective approach to assist marketers in making judgments; it is utilized when a marketer has one or more options in mind and requires support in the final phases of decision making.
2. Descriptive research can help marketers grasp the features of certain phenomena in order to solve a specific problem.
a. Descriptive studies can range from broad surveys of customers’ educational backgrounds, vocations, or ages to more particular information on how they utilize items or how frequently they buy them.
b. Descriptive studies typically necessitate in-depth knowledge and are predicated on a well defined topic or issue.
3. Marketers can use experimental research to draw causal conclusions regarding links.
Experiments entail altering an independent variable and measuring the changes in a dependent variable as a result of that manipulation.
b. Experimental research can provide considerably more convincing evidence of cause and effect than descriptive study data.
The Third Step in the Marketing Research Process
A. Marketers view marketing research as a process with logical steps in order to maintain the level of control required to gather correct data. These procedures should be considered as a framework for conducting research rather than a set of prescriptive guidelines to follow in each project.
B. Identifying and Defining Research Problems or Issues
1. The problem or issue definition phase of a research project focuses on determining the nature and boundaries of a scenario or query connected to marketing strategy or implementation. A deviation from normal function, such as disputes between or inability to achieve objectives, is usually the first symptom of a problem.
2. Identifying and defining market opportunities or changes in the environment is a common emphasis of marketing research. When a company identifies a market opportunity, it may need to perform research to have a better understanding of the situation in order to develop an effective marketing plan.
3. In order to pinpoint the precise boundaries of a problem or issue through research, marketers must define the nature and scope of the condition in a way that goes beyond the obvious symptoms.
C. Research Project Conceptualization
1. Once the problem or issue has been identified, the following stage is to create a study design, which is a strategy for gathering the data needed to solve it. This process entails forming a hypothesis and selecting which style of study is best for testing the hypothesis.
2. Constructing a Hypothesis
a. A hypothesis is a well-informed guess or assumption regarding a particular issue or set of circumstances.
b. The hypothesis is based on all available information and understanding about the problem or conditions, including findings from prior research studies and other sources.
c. During the course of a research endeavor, various hypotheses may be developed; these accepted or rejected hypotheses become the study’s main conclusions.
3. Validity and Reliability of Research
Marketing researchers must ensure that research procedures are both dependable and valid when designing research.
b. A research technique is reliable if it consistently provides similar results in multiple trials.
c. For a technique to be valid, it must measure what it claims to measure, not anything else.
D. Data Collection
1. Collecting data to confirm or reject the research hypothesis is the next phase in the marketing research process. The categories of data to collect and how the data is obtained must be specified in the research design.
2. Different Data Types
a. Primary data is obtained directly from respondents or is witnessed and documented. This type of information must be obtained by observation or through surveys of people who are interested.
b. Secondary data is gathered internally and externally for purposes other than the current investigation.
3. Secondary Data Sources
a. Marketers frequently start the data collection phase of marketing research by collecting secondary data (see Table 5.2).
Internal secondary data sources can include the company’s internal database, which may contain information on previous marketing initiatives, as well as accounting records.
c. Periodicals, government publications, unpublished sources, online databases, and outside services are examples of external data sources.
d. Technologies like as TiVo and Internet-based services are challenging traditional secondary data sources by providing year-round, up-to-the-minute data.
4. Primary Data Collection Techniques
a. Gathering primary data is a more time-consuming, costly, and complex procedure than gathering secondary data.
b. Taking samples
(1) It is nearly impossible to investigate all members of a target market or other demographic due to the time and resources available for research.
(a) A population, or “universe,” is made up of all the elements, units, or individuals that researchers are interested in for a particular study.
(b) Researchers can forecast the reactions of a whole market or market segment by selecting a small sample of units to represent the characteristics of the entire population.
(2) In marketing research, sampling is the process of picking representative units from a larger group. Sampling techniques are used in almost all sorts of marketing research. Probability sampling and non-probability sampling are the two most common types of sampling.
(3) Probability sampling ensures that every member of the population under study has a known chance of being chosen for research.
(a) When marketers use random sampling, every unit in a population has the same probability of being included in the sample.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. 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Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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