Create a 10- to 20-slide (not counting the cover slide and reference slide) Micr
ID: 423777 • Letter: C
Question
Create a 10- to 20-slide (not counting the cover slide and reference slide) Microsoft® PowerPoint® presentation with speaker's notes on the Five-Step Marketing Research Approach detailing how you will use each step to solve the membership issue the local nonprofit charity is facing.
Address the following in your role as marketing manager:
Define the Five-Step Marketing Research Approach and discuss the importance of research in marketing.
Describe each step of the Marketing Research Approach (one slide for each step) in detail including its goal, and create an example aligned to the scenario above to illustrate how that stage would be implemented toward the problem's solution.
Define the two types of research data this process gathers and their pros and cons. Share examples of each type that would be useful in solving the scenario.
Compare and contrast the Five-Step Process with two alternative methods for conducting marketing research. What are the pros and cons of each?
Define what it means to differentiate a service and provide an example to illustrate how the local nonprofit charity in the scenario can use the strategy to help increase target market interest.
Explain how differentiation will help position the organization.
Explanation / Answer
It is important to conduct effective research and the five step marketing research process is useful. This includes defining the problem, analyzing it, getting specific data required for the research, interpreting the data and solving the problem. Defining the problem is an important step of the research which helps to define the objectives of the problem and understand the resources needed for the research. It is important to find the right level of problem and defining it to solve it in an effective manner.
After problem definition, understanding the objectives and narrowing the research objectives; it is necessary to include list of research questions.
The next step is analysis of the situation. With the information provided, it is important to define the problem and get Aditi tonal information. Situation analysis will help the researcher and understand the research decisions.
Secondary data will help to provide the answers for some background. The information is useful and informative. There are various sources used for the secondary data like files of the company, libraries, associations, government agencies, private research organizations and many more. The primary data involves doing research from scratch.
The next step is getting the primary data after the secondary data. This is depended on the money and time. It helps to obtain information about the customers and the questions focus on qualitative and quantitative research.
Qualitative questioning focuses on in depth research while quantitative focuses on representational purposes for the benefit of the hypotheses.
Collection of data is important and observations help in the research project to a great extent.
The next step involves interpretation of data. IT. Is important that the data collected should be relevant to the population
The next step is applying the findings and marketing strategy planning