MRK 200 Class Participation Activity # 2

MRK 200,MARKETING II

Marketing Research : 5 step approach

As Taught by Prof. Tim Richardson School of Marketing and e-Business, Faculty of Business,

Chpt 4
page 105

Marketing Information: MIS - Marketing Information System

Marketing Research
5 step approach
    o Define the Problem
           (what do you need to know, why do you need to know it)
    o Analyze the Situation
    o Getting problem Specific Data
           (find information related to solving the problem)
    o Interpret the data
           (look at the info and figure out what it means)
    o Solve the Problem

Sources for International Marketing Research
www.witiger.com/internationalbusiness/countryinfo.htm
Chpt 4 p. 125

What You do for Group Case Discussion Presentation # 2

- in a group of 4 or 5 people
- write your last name on the top of a piece of paper

1. you think of a marketing problem

- usually the best way to go about this is think of selling something and you need to know the number of customers or you need to know what features you want to change on the product
- example Tim Horton's sells soup, Krispy Kreme (which has just entered the Canadian market) may be thinking, we should sell soup
- what kind of soup do Canadians like, or how many Canadians eat soup
- write this problem on the piece of paper

2. Analyze the Situation

- think about what you might already know
- who in the group knows something about your question
- write your comments on the paper

3. Getting problem Specific Data

- find some secondary information (info other people already collected
- or even possibly some primary information (do a survey from scratch)
- write down where you would get your info
- then go get some of the info

4. Interpret the data: look at the info and figure out what it means

- did we get the numbers we needed,
- did we find any new information we didn't expect
- how can I use this info to solve the problem

5. Apply the info you found to the problem

- we found XX,000 people can do .....
- most customers like ..........
- the most popular flavour is
- most drivers prefer ....
- the longest lasting ....
- easiest opening ....

witiger.com CONTACTIMAIN PAGE I NEWS GALLERY IE-BIZ SHORTCUTS I INT'L BIZ SHORTCUTS IMKTG&BUSINESS I TEACHING SCHEDULE IMISTAKES ITEXTS USED IIMAGESIRANKI

.

1. you think of a marketing problem
	- usually the best way to go about this is think of selling something and you need to know the number of customers or you need to know what features you want to change on the product - example Tim Horton's sells soup, Krispy Kreme (which has just entered the Canadian market) may be thinking, we should sell soup - what kind of soup do Canadians like, or how many Canadians eat soup - write this problem on the piece of paper
2. Analyze the Situation
	- think about what you might already know - who in the group knows something about your question - write your comments on the paper
3. Getting problem Specific Data
	- find some secondary information (info other people already collected - or even possibly some primary information (do a survey from scratch) - write down where you would get your info - then go get some of the info
4. Interpret the data: look at the info and figure out what it means
	- did we get the numbers we needed, - did we find any new information we didn't expect - how can I use this info to solve the problem
5. Apply the info you found to the problem
	- we found XX,000 people can do ..... - most customers like .......... - the most popular flavour is - most drivers prefer .... - the longest lasting .... - easiest opening ....

witiger.com	CONTACTIMAIN PAGE I NEWS GALLERY IE-BIZ SHORTCUTS I INT'L BIZ SHORTCUTS IMKTG&BUSINESS I TEACHING SCHEDULE IMISTAKES ITEXTS USED IIMAGESIRANKI
	.