M1A1 Marketing Research

This activity will address module outcomes:
  • Conduct marketing research for a business venture. (CO1)

After reviewing the reading materials for this module, complete the following for a product, service, or both:

  1. If you are working with a product:
    1. Describe the customer you are targeting for your product (about ½ page).
    2. Conduct secondary research: gather data about your product.
      1. Identify at least two questions about your product that you want answered.
      2. Identify at least two different secondary sources to use for the research.
      3. Compile the data into a usable report (2-3 pages).
    3. Conduct primary research: gather data about your product.
      1. Develop at least 10 questions to ask directly to your potential target customers.
      2. Directly ask a reasonable number (at least 10) of potential customers your questions. Capture their responses in some format for submission.
      3. Analyze the data from your primary research – what is it telling you (2-3 pages)?
    4. Compare the results from your primary and secondary research.
      1. What is similar (about ½ page)?
      2. What is different (about ½ page)?
      3. What element(s) should you change about your product, per your research findings? It is not acceptable to state that no changes need to be made (about 1 page).
  2. If you are working with a service:
    1. Describe the customer you are targeting for your service (about ½ page).
    2. Conduct secondary research: gather data about your service.
      1. Identify at least two questions about your service that you want answered.
      2. Identify at least two different secondary sources to use for your research.
      3. Compile the data into a usable report (2-3 pages).
    3. Conduct primary research: gather data about your service.
      1. Develop at least 10 questions to ask directly to your potential target customers.
      2. Directly ask a reasonable number (at least 10) of potential customers your questions. Capture their responses in some format for submission.
      3. Analyze the data from your primary research – what is it telling you (2-3 pages)?
    4. Compare the results from your primary and secondary research.
      1. What is similar (about ½ page)?
      2. What is different (about ½ page?)
      3. What element(s) should you change about your service, per your research findings? It is not acceptable to state that no changes need to be made (about 1 page).
  3. If you are working with both a product and a service:
    1. Complete step 1 for the product.
    2. Complete step 2 for the service.

Compose your work in a .doc or .docx file type using a word processor (such as Microsoft Word, etc.) and save it frequently to your computer. For those assignments that are not written essays and require uploading images or PowerPoint slides, please follow uploading guidelines provided by your instructor.

 

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