Business Marketing Homework 2 - Josh Kelly Business...

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Josh Kelly Business Marketing Homework- Ch. 6,7,8,9 Ch. 6 1. Marketing Research is the process of collecting and analyzing information in order to solve marketing problems. This is important because after doing this, businesses will be informed about what their customers want and need. This information may show certain aspects of their customers such as their attitudes towards buying and what they are buying. 2. The five steps in the marketing research process are: a) Locating and defining issues or problems. This is important because it helps the organization focus on certain situations so they are able to define and refine problems. b) Designing the research project. Is just when a company or organization collects data about certain issues. One part of this is exploratory research, which is just exploring certain aspects about a problem. c) Collecting data. This can be two things, either Primary or Secondary data. The first part which is Primary Data is collected directly from customers or other correspondents. The second which is Secondary Data is from and outside organization. Data can be achieved from surveying, and observing among many other things. d) Interpreting research findings. This is the step when they take all of the data collected and they begin to review and sort all of the information that was received from Primary or Secondary data in the “Collecting Data” phase. e) Last but not least is reporting research findings. In this stage the organization or group takes all of the data that they have received and they then write all of the data down on a document or any other device. In this step they take only the most important of the data and add it. In this document there can be summaries about the information
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collected and recommendations of how they believe the issue should be addressed. 7. One way to encourage respondents to cooperate in mail a survey is to simply enough just gives away “comps” to people who take the survey. If a company adds on their survey if a consumer takes the survey, and mails it back to the organization, the organization will then give a 10% off coupon good for anything in the store. This would then make the people want to take the questioner because they can get 10% and save money. If they go and spend 1,000$ they will get 100$ off the purchase, and anytime money is saved that is good. Ch 7 1. An example of a group that might be unsatisfied with their product needs. This group could be people let’s say who want to buy a Mercedes Benz. My family can be an example of this. My dad went car shopping for a Mercedes Benz S550 the other day. The reason he was unsatisfied is because in upstate New York there are not very many Mercedes dealers who even have that sedan because it is rather high end. Luckily, we own a house in Fort Lauderdale, Florida and he knows a good dealership down there. If there were better dealerships around here he would not be unsatisfied. So, right now he is at our winter house in Ft. Lauderdale, at
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