Marketing Research

Assignment Specifications for Marketing Research Assignment

Professor Christine Miner

MKTG 3161

Principles of Marketing

2

Marketing Research

Pick a Topic! Pick one topic that interests you the most from the lists immediately below: Advertising

• What are the best forms of advertising for a small business, large business, government, etc.?

• Do an analysis of appropriate/recommended social media platforms and advertising mediums based on generational demographics, e.g. Gen X, Gen Y, Gen Z, Baby Boomers, Millennials, and Zoomers

• Analysis of your top five favorite advertising slogans and why they are your favorite

• Censorship in advertising, good or bad?

Consumer behavior • Emotional influence on consumer behavior

• Biggest influences on consumer decision making

• Methods to predict consumer behavior

• Influence of social groups on purchase intentions

• Consumer behavior and brand image

E-marketing • What is the most effective marketing method in the digital world and why?

• Is traditional marketing still relevant? e.g., television, radio, newspapers

• Newest trends in marketing and their effectiveness

Social Media Marketing • Social Media: A blessing or curse for society? Why?

• Is there a correlation to the emergence of social media and impacts to youth? Why or why not?

• The role of Influencers in marketing? e.g. microinfluencers.

Misc.

• Marketing and Public Relations: what is the difference and what are the advantages/disadvantages of both?

3

DUE: 3/03/23 The paper should include the following: Format and References

• Be creative in design, but ensure all required information is included! Build something that you will be proud to present!

• Utilize three or more credible sources (primary and secondary). Utilize the MGA Library databases and reputable sources online. Note: Wikipedia is not a credible source and should not be included in your paper.

• Paper length 8-10 pages; including a title page and references page. • Proofread for grammar, spelling, and punctuation. Very important! • Plagiarized work will receive a zero (0).

Writing Organization

• Use headings, sub-headings, sub-sub-headings, etc. whenever you change the topic. Do not turn in a paper without headings, etc.

• Write paper using MLA format • Indent the beginning of each new paragraph. • Include a title page with the title of the project, your name, and any other

information you deem useful. • Do not write the paper using an outline format.

If you have any questions or problems, please notify me well in advance! Best of luck!

Marketing Research

KEY TAKEAWAYS BEFORE ATTEMPTING THIS ASSIGNMENT

The use of market research is essential in determining the success of a business. Market research is a process of gathering and analyzing data regarding consumer behavior, market trends, and economic conditions. In this essay, we will explore the benefits of utilizing market research, the different types of market research and their applications, and analyze the impact of market research on business success. By understanding the importance of market research, businesses can gain the competitive edge needed to remain successful in today’s ever-changing market.
Market research is an invaluable tool for businesses to gain a better understanding of their current and potential customers. Research conducted by MS Bressler (2012) found that market research can be a great asset to businesses, providing them with valuable insight into the wants and needs of their target market. This knowledge can help businesses to identify their target market, develop better products and services, and create effective marketing campaigns. Additionally, market research can help businesses gain a better understanding of their competitors, allowing them to make informed decisions about pricing, product placement, and marketing strategies. Ultimately, market research can provide businesses with the information necessary to make well-informed decisions that will increase their profitability and success. By utilizing market research, businesses can gain a better understanding of their target market, develop better products and services, and create effective marketing campaigns.
The different types of market research and their applications can be divided into two main categories: quantitative and qualitative. Quantitative market research is used to obtain numerical data, such as responses to survey questions, which can be used to analyze and interpret larger trends. Qualitative market research, on the other hand, is used to obtain more detailed information, such as opinions and perspectives, which can be used to gain a deeper understanding of the market (Kenning, Plassmann, & Ahlert, 2007). Qualitative market research methods can be divided into two main types: focus groups and in-depth interviews. Focus groups involve a small group of participants who are asked to discuss a particular topic, while in-depth interviews involve interviews between a researcher and one or two participants. Both of these methods can be used to gain insight into people’s opinions, attitudes, and behaviors in relation to a particular product or service. Additionally, both of these methods can be used to identify potential usage scenarios, target markets, and to develop marketing strategies (Kenning, Plassmann, & Ahlert, 2007). Overall, market research is an important tool for businesses, as it provides them with valuable information which can be used to better understand the market and develop better strategies to meet their goals.
Market research is a critical tool for businesses of all sizes and can have a significant impact on a company’s success. This was demonstrated by M Caliendo and AS Kritikos in their 2008 article in Kyklos, where they examined the effects of market research on the success of small and medium-sized enterprises (SMEs). By surveying over 3,000 SMEs in Germany, they were able to identify a positive correlation between SMEs that used market research and their success. The results showed that SMEs that used market research experienced an increase in market share, profitability, and total sales. Furthermore, they found that market research was especially beneficial for those SMEs that were in the growth stage. The results of this study demonstrate the importance of market research for businesses, particularly those in the SME sector. By utilizing market research, businesses can gain a better understanding of their customers, competitors, and their own products, services, and capabilities. This can give them the insight and knowledge needed to make informed decisions, allowing them to increase their market share and profitability.
In conclusion, marketing research is an essential component of any successful marketing strategy. Researching customer needs and preferences, understanding the competitive landscape and evaluating the effectiveness of marketing campaigns are all essential elements of a successful marketing plan. Without quality insights gained through marketing research, businesses risk unsuccessful marketing campaigns and reduced sales. Proper research can lead to better decisions, improved performance and a competitive edge.
Work Cited
MS Bressler.”How small businesses master the art of competition through superior competitive advantage.”https://www.academia.edu/download/80903506/121156.pdf
M Caliendo., AS Kritikos.”Is entrepreneurial success predictable? An ex‐ante analysis of the character‐based approach.”https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1467-6435.2008.00398.x
H Plassmann.”Applications of functional magnetic resonance imaging for market research.”https://www.emerald.com/insight/content/doi/10.1108/13522750710740817/full/html

 

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