Marketing 20 slide power point /Business
– Final project (30% of the grade) Topic: Using Consumer Behavior Principles to Develop a Consumer Behavior Exploratory Research Survey (30% of the final grade) Background Consumer behavior research can be very expensive and time consuming. How do companies decide/justify spending money on research? Many large companies that regularly conduct research begin with a very small exploratory project that is often done with the expertise that is already staffed in the Marketing Department. Once this is done and if it’s found you need a national sample then, you can pitch the CFO for the money needed to go forward. You have been put in the position of conducting the exploratory research to find if you need to hire an expensive outside Consumer Behavior Research firm to take the research to the next level. You have been assigned a brand/product item for your first consumer behavior research project (brand assigned at random by Professor). Complete sections one and three based on secondary data collected through outside research. Section 1: Background
B) Research and discuss the brands target market:
Section 2: Consumer Influences Identify and analyze three of the most relevant aspects of consumer influences and their effect on the sale/adoption of the brand/product item. Provide reasoning why you believe the influence is relevant. Examples of what might be included:
Section 3: Marketing Strategy Identify current issues that may need consumer behavior research. Outline at least FIVE questions (relating directly to Consumer Behavior internal and or external factors). Include both closed-ended and open-ended questioning. DO NOT question using marketing terms or concepts (ex. What are your perceptions of the brand?). Qualifying questions (demographic or otherwise) are not included in the five required but you can ask these to get the correct sample for your survey. Explain why each question needs to asked in terms of the Marketing Mix (4 P’s). State the question and then give the reasoning. Be sure to organize by paragraph. For example, an open-ended question might be “Are the current promotions being used by (the brand) effective in your eyes? Explain why or why not.” A closed-ended question provides all the answers for the respondent. An example would be: “Of the following celebrities that endorsed (the brand) who, in your opinion influenced you the most to feel good or actually purchase (the brand) (A) Micheal Phelps, (B) Tiger Woods, (C) Micheal Jordan, (D) Martina Navratilova (E) none were very influential for me Examples of areas where questions regarding internal or external factors can be paired are:
Section 4: Survey Consumers Create a 7 to 10-question survey on SurveyMonkey.com.(use the free option) using the questions developed in section 3. Collect survey results from 10-15 consumers that would be a part of the main target segment discussed in section 1. In this section, tell how you recruited subjects to take the survey. Did you offer any incentive? Were there difficulties in doing this? Please use the name alex grzyb, please create an email address you have access to, use alex6119107071@gmail.com and password Cowboys061191? Section 5: Analyze Finding/Conclusion Analyze your findings from the survey, including a minimum of one table. Discuss how your findings (even though they are from a very small sample) could be the basis for a larger research project to be conducted by the brand. A copy of the survey itself and your resulting data must be included in your presentation (results can be in table form). Last, make your recommendation if there needs to be a larger study conducted or not (and why). Identify and recommend which type of research approach should be done (Positivist or Interpretivist) and why. Submission Requirements Your final project must be submitted as follows:
Consumer Behavior Final Project Rubic UMUC 410
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