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MINI PROJECTS - MINI PROJECT 1 MARKETING RESEARCH AND...

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MINI PROJECT 1 - MARKETING RESEARCH AND MARKET ANALYSIS PURPOSE: The purpose of this mini-project is to become familiar with techniques used in marketing research and to learn to apply these techniques to marketing decision-making. There are many techniques that can be used. Each of these is discussed in class and/or in the readings: OVERVIEW: For this mini-project and for mini-project 2 your group should assume you are attempting to develop and market a new brand of a CONSUMER PRODUCT for a real major company . For the Research Mini-Project, you will plan and conduct research which will provide the information needed for the development of the new product or service. SPECIFICS: 1) Decide on a PRODUCT CATEGORY for the project. 2) Develop initial ideas for possible characteristics of new product and/or brand. As we know, customer sensitivity or the marketing concept says that we must first identify customer needs and wants and then provide satisfactions better than the competition. This research mini-project will allow you to do just that. Some of the techniques which you might use and which we will discuss in class are A. Structured Surveys B. Focus groups C. Structured observation 3) The final report for this project should be a typed, double-spaced paper. The paper should include: 1. Introduction. A general overview of the product concept. 2. Research Methodology . The first few paragraphs should discuss the technique used, why that technique was chosen, and details of the procedures involved (e.g., questionnaire and its development, survey methodology, sampling, data tabulation). You should be specific enough for another student to use the paper and replicate what you did exactly . You should collect at least 50 surveys. Include all copies of your surveys along with the report. 3. A nalysis of the Data. A thorough analysis of the data and results of the research should be presented. Use tables, charts, graphs (whatever is appropriate). You will either enter your data in an EXCEL spread sheet or directly into SPSS and build your tables, charts, and graphs from this data using descriptive statistics from SPSS. 4. C onclusion. A thorough discussion of your conclusions from the data and what consumers want in this product category that they are not currently getting? Is there a specific segment of the market which wants specific characteristics? What does this tell management about development of a new brand of this product category? Who is the target market as determined by an analysis of the demographics and lifestyle variables in the survey.
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