MT355M1-1: Explore a research problem.
PC-3.2: Interact with others in a professional manner using appropriate communication and presentation skills.
There are two parts to this Assessment.
Marketing researchers are faced with making research design decisions on a regular basis. Developing the ability to determine an appropriate research design for a study is critical to the success of the research.
Marketing researchers must share their research results with various stakeholders. When conducting research for a company, the researcher must present the information in a clear and concise fashion so the users of the research results are able to understand the methodology and conclusions.
In Part 1, you are on a quest to identify and develop a problem statement for a marketing research study. You will identify a marketing research problem, develop a marketing research problem statement, and propose research questions for your organization.
In Part 2, you will explore the impact marketing research has on marketing decision-making in relation to different types of organizations. You will create an audio/visual PowerPoint® presentation directed to a marketing manager of a company, demonstrating a comprehensive understanding and expert-level usage of interpersonal skills to embody a professional demeanor using appropriate communication and presentation skills.
Part 1: Propose a Marketing Research Study
Business owners and managers often identify problems they need help to resolve. In such situations, additional information typically is needed to make a decision or to solve a problem. One solution is a marketing research study based on a scientific research process. In this Assessment, you are on a quest to identify and develop a problem statement for a marketing research study.
Using the Random Scenario Generator (RSG), you will select an industry, business problem, and geographic market in which you will select a single business entity. You will be prompted to select 1 of the 3 options for each of the variables. Once you have selected from each variable category, the resulting scenario is to be the basis for your work on this Assessment. Each student’s scenario will be documented.
You will compose an expository paper to identify necessary information about the business problem, develop a marketing research problem statement, and propose research questions for your RSG industry by completing the following steps:
Step 1. Identify and Clarify Information Needs: You can learn a lot about a company by engaging in several different activities to define an existing problem (see pages 32–34 in the textbook), including:
Conduct secondary research about your chosen organization to identify any existing problems the organization may be experiencing.
Visit the organization’s social media pages and websites to identify a problem the organization may be experiencing.
If possible, contact the organization and ask them what problems they may be experiencing related to the RSG situation.
Step 2. Situation Analysis: Once you have identified a marketing-oriented problem to research for your chosen organization, conduct a situation analysis (SWOT and/or PESTLE analysis) to critically analyze the internal and external marketing environment of your chosen organization in order to understand the complete marketing problem situation.
Step 3. Diagnose the Marketing Problem: Define the problem in a concise purpose statement. Determine the consequences of not addressing certain issues by considering the urgency or immediacy of the issue. Diagnose the marketing problem to identify the root cause and differentiate it from the symptoms of a marketing problem.
Step 4. Develop the Marketing Research Problem: Discuss the organization you chose and explain the industry in which they operate, the markets they serve, and the problem you identified and would like to study.
Step 5. Support with Research: Conduct a brief literature review using secondary research resources to uncover relevant theories related to the research problem under study. Synthesize a minimum of three peer-reviewed research resources in your writing.
Step 6. Research Questions: Formulate a minimum of three probing research questions. Interpret the problem definition and purpose of the study to aid in the formulation of the research questions. Explain how interpreting problem definition stimulates critical thinking.
Part 2: Identify a Marketing Research Problem
Marketing research is the process of gathering and interpreting data for use in developing, implementing, and monitoring an organization’s marketing plans. Its key elements are the product or service, its price, its placement or the channels in which it is distributed, its promotion, the tangible elements at the point of contact, and the processes and people involved in making the exchange or delivering the service. In this regard, marketing research is used by marketers and managers to make key marketing decisions.
There are many different types of organizations that conduct marketing research. In this Discussion, you will explore the impact marketing research has on marketing decision-making in relation to different types of organizations. You will demonstrate a comprehensive understanding and expert-level usage of interpersonal skills to embody a professional demeanor using all of the following skills: communication skills, problem solving, decision-making, listening skills, negotiation, and assertiveness. Execute the following requirements in a PowerPoint presentation, and ensure you convey your audio and visuals in a professional manner using appropriate communication and presentation skills.
If you need help with adding audio to PPT, view this PPT Tutorial.
Identify one organization from the following categories:
Producers of Products and Services (e.g., Coca-Cola®, Microsoft®, Disney®, etc.)
Advertising Agencies (e.g., MEC, McCann WorldGroup©, etc.)
Marketing Research Companies (e.g., Nielsen Company, Arbitron, etc.)
Conduct research and discuss how the organization uses marketing research.
Write about research for the company selected in each category. (Three companies — three types of market research used)
Explain the type of marketing research the organization produces or needs (see pages 10 and 11 in your textbook).
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