Marketing and Market Research Essays DEADLINE Monday 28th November
Choose ONE essay and aim to write about 300 words.
Here are some ideas to help you get started – but you may have more and better ideas yourselves!
p.261 Essay 1.
Define market research and briefly describe why it is done
Respond to the quote: appears to be very product orientated
Why he may be correct – if the product is so good, may be OK; new hi-tech product? Maybe like Apple – so innovative they don´t need to do market research? Etc
Why he may be incorrect: lots of competitors; ever-changing market; different ways now to watch TV (eg online etc)
Conclusion: do you agree with him? Why/not?
p. 261 Essay 2.
a) define segmentation
segmentation by geography, psychological factors, demographic factors – give examples for each related DIRECTLY to the soft drinks market.
I recommend describing one (or max. 2) types of segmentation in each of the 3 types above. Don´t try more as you will end up writing a list, not an analysis
b) Evaluate = consider BOTH sides then conclude
Why they should: market leader has prestige, recognition etc; higher sales, then higher profit? Etc
Why they shouldn´t: cost; maybe would not increase profit as they may have to reduce prices; currently number 2 – is it so important to be number 1? Etc
Conclusion: your recommendation
p. 289 Essay 1
a) Define primary research and give examples
define secondary research and give example
briefly highlight main differences between them
b) this is asking about why the market research may not have been accurate:
primary: sample size; non-representative sample?; respondents lie? Bad questions etc – you need to explain what each of these mean
secondary: out of date, not relevant/exact etc
also other factors eg in the time from research to market, maybe situations have changed: fashions; competition; costs/prices; economic situation etc etc
