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200592 Marketing Research Final
Test marketing is an approach of investigating through experimentation, study, of test of a particular market segment to create an understanding regarding sales dynamics as well as customer behaviors.
QUESTION
2
Evaluate the quality and
validity of secondary data
Quality and validity of information used during research is very important. Secondary entails information that has been obtained from already conducted students or information available in company’s documents.
QUESTION
3
Three types of exploratory
QUESTION
4
Person-administered Surveys
This is where a research takes
a direct role in providing respondent with questions, probably by reading for
them or being there to assist. it has the following advantages and
disadvantages
200592
Marketing Research Final
PART
A
QUESTION
1
Test marketing is an
approach of investigating through experimentation, study, of test of a
particular market segment to create an understanding regarding sales dynamics
as well as customer behaviors. It has the following variations
·
-Standard test markets is where companies
investigate is their products of the marketing mix are appropriate in gaining
them a competitive advantage. For example, company X test if customer like some
aspects of the products such as color.
·
-Controlled test markets. This type of test is
normally done by contracted firms that specifically deal with marketing to
access how well products can be distributed using various channels. For
example, research firms such as Nielsen Holding can do research on behalf of a
company to how well they can distribute products.
·
-Electronic test markets. This is where
customers agree to loyalty card to identify them when buying products. Example,
supermarkets issues loyalty cards that collection information about customer’s
buying behaviors as well age group for different buyers.
·
-Simulated test markets. It is mainly conducted
when a company does not have enough information regarding customers. Hence,
they input data in computers systems to simulates different scenarios. For
example, insurance company may not have enough data about possible accidence in
a year, so they collect data and simulate through computer systems.
The following are the
pros and cons of test marketing
Advantage:
Its very effective and curate when forecasting sales in your business.
Disadvantage:
IT may not have infallible outcome all the time
Research my experience ethical problem when
doing this type of research
Testing a market my expose trade patents.
QUESTION
2
Evaluate the quality and
validity of secondary data
Quality and validity of
information used during research is very important. Secondary entails
information that has been obtained from already conducted students or
information available in company’s documents.
As a business research, I can
evaluate the quality and validity of secondary data by asking several questions
·
-Who did the study that I am
relying and what was its purpose?
·
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