marketing (does this sound right)
posted by scooby9132002 on .
Select a company that produces a product that you use and with which you are familiar. For the company to make decisions about developing new products and attracting new customers, it must rely on marketing research. These decisions feed into the company’s marketing plan. For the firm you selected:
The company I have chosen which also includes the product is Folgers coffee.
1. Define one specific problem it could address through marketing research.
One problem I have noticed is that Folgers can upset someone stomach especially when a person has acid reflux.
2. What type of research design do you recommend for addressing that problem, and why?
Well Folgers could do a survey to see the percentage of how many people suffer with the stomach problems and then send the individuals a sample of other coffees made by this company to see if the newly made coffee’s would help them.
3. What is the most appropriate way to collect the data? Justify your choice.
Well that’s a hard decision to make, because if you send out for a customer’s feedback, they may not respond back. If you give out free samples at a grocery store you could get feedback right on the spot. I think the best way to know who has the problems is to send out so many coupons and a survey and see how many of them are used the coupon and filed out the survey. I think the most appropriate way to collect the data is using formulas, tables and power function charts.
4. How will you ensure high validity, reliability, and representativeness of the data?
To ensure high validity, reliability, and representativeness of the data I would go to the grocery store at different times of the day and several different days of the week. You just have to make sure that we survey hundreds of people to get a fair sample.
5. Design an appropriate sampling plan.
I think your problem is going to be difficult to solve with market research. Acid reflux is a problem that is better solved in a scientific lab.
I disagree with part of your answer for # 3. Mail surveys get very small percentages of responses. This is not an accurate way of surveying people. A better way is to hand out samples of prepared Folgers and another brand to grocery store customers. Ask them to rate each coffee for taste, etc.
so what can i put for number one then?
I just reread your opening statement -- and now realize that the company wants to develop new products and attract new customers. How about taking one of the Folgers coffees that isn't selling as well as the others. Hand out samples and coupons for this coffee in order to increase its share of the market.
Define one specific problem it could address through marketing research.
Market research told the Folgers executives that people who drink their coffee will "save" premium coffees for special occasions. So, to appeal to existing customers while potentially attracting new customers, the new Folgers Gourmet Selections are "gourmet-inspired coffee [and can] be consumed on an everyday basis."
That's a good one.
Design an appropriate sampling plan.
I have no idea. Do you have an example I can look at?
Your sampling plan should list the grocery stores where you plan to survey customers, the number of hours and days you spend in each store, and the coffee samples you will give the customers. You shouldn't tell them which cup has which coffee, but ask them to tell you which they like best. Then, the surveyor will need to keep encrypted records to record the preferences.