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Thread: MGT301 Principles of Marketing Assignment 1 Solution May 11, 2010

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    Post MGT301 Principles of Marketing Assignment 1 Solution May 11, 2010

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    MGT301 Principles of Marketing Assignment 1

    Solution May 11,2010

    Question 1
    Answer


    The four marketing research methods are
    1 Surveys
    2 Focus Groups
    3 Personal interviews
    4 Field Trails

    Explanation of these methods:
    1 Surveys:

    Survey research is one of the very important
    areas of extent in partical social research. In
    marketing research surveys gather people and ask

    them about your products and services
    Data are usually interviews subjects. Surveys
    can use qualitative (e.g ask open-ended
    questions) or quantitative (e.g use forced-
    choice questions) measures. There are two basic types of surveys:
    cross-sectional surveys and
    longitudinal surveys. Much of the following
    information was taken from an excellent book on

    the subject,called Survey Research Methods
    The Survey is a non-experimental,descriptive
    research method. Survey can be usefull when a
    reseacher wants to collect data on phenomena
    that cannt be directly observed (such as
    opinions on libaray servies). Surveys are used
    extendively in libaray and information science
    to assess attitudes and characteristics of a

    wide range of subjects
    Types of surveys:
    The surveys can be divided into different major catagories.
    1 Written surveys
    2 oral surveys
    3 electronic surveys

    so these are the main types of surveys. through
    these kinds of surveys we can judge the target
    audience very well and collect data and analyze
    the demands of cosumers. After the collection of
    this data we can make changes on our product and
    change our product according to our consumers
    demand.

    2 Focus Groups:
    In focus groups, a moderator user a scripted
    series of question or topics to lead a
    discussion among a group of people. These
    sessions take place at neutral locations,
    usually at facilities with videotaping equipment
    and an observation room with one-way mirror. A
    focus group usually lasts one to two hours and
    it takes at least three groups to get balanced
    results.

    3 Personal interviews:
    This is also a very important method of
    research. IN this kind of reseach method we have
    to take face to face interviews of target
    markets. Like focus groups, personal interviews
    include unstructed, open-ended questions. The
    usually last for about for about an hour and are
    typically recorded.
    Focus groups and personal interviews provide
    more subjective data than surveys. The results
    are not satistically reliable, which means that
    they usually dont represent a large enough
    segment of the population. Nevertheless, Focus
    groups and interviews yield valuable insights
    into customer attitudes and are excellent ways
    to uncover issues related to new products or
    service development.

    4 Feild trials
    Feild trials are one of the main methods of
    marketing research. In this method we have to
    place our new products in the reach of target
    market. Placing a new product in selected stores
    to test customer response under real-life
    selling conditions can help you make product
    modifications, adjust prices or improve
    packaging. Small business owner should try to
    establish rapport with local store owners and
    websites that can help them test their products.

    Advantages of surveys:
    1 Surveys are relatively inexpensive
    2 Surveys are useful in describing the
    cahracteristics of a large population. No other
    method of observation can provide this general
    capability.
    3 Good for lower literacy level like chilfren
    and other people who have low knowledge
    4 They are standardized, they are relatively

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    free from several types of error.

    Advantages of Focus groups:
    • The researcher can interact with the participants, pose follow-up questions or ask
    • questions that probe more deeply
    • Results can be easier to understand that complicated statistical data
    • The researcher can get information from non-verbal responses, such as facial expressions or body language
    • Information is provided more quickly than if
    • people were interviewed separately


    Advantages of Personal interviews:
    • If the repondent lacks reading skills to answer a questionnaire
    • Are useful for untangling complex topics
    • The interviewer can probe deeper into a response given by an interviewer
    • Interviews produce a heigher response rate



    Advantages of Feild trials

    1 Through Field trials data we can do better
    modifications in our product

    2 The field trial will examine the effectiveness
    of RF tag use in providing consumers

    3 Field trials of RF tags have mostly been
    intended at testing the perfection in
    effectiveness of delivery from the producer to retailers
    Last edited by viki; 05-12-2010 at 08:08 AM.
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