UNIT 2 BUSINESS / MARKETING HOMEWORK

PLEASE WRITE IN ESSAY FORMAT - NOT BULLET POINTS

The marketing research process is essential in determining how a product should be marketed. The primary purpose of this research is to reduce the level of risk of a marketing decision. Knowing that the majority of new products fail, how would you assess the following:

During a casual meeting with your supervisor, Mr. Johnson, he asks you how competitive intelligence and analysis can help market the company’s new beverage. After discussing it for a while, he requests that you submit a report to your marketing team explaining the marketing research process and how competitive intelligence and analysis are incorporated into it.

For this assignment, you must make a report of 3–4 pages (body) in which you explain the marketing research process and how competitive intelligence and analysis are incorporated into it. Answer the following questions in your report:

• What is the marketing research process?
• What is competitive intelligence and analysis?
• Where would competitive intelligence and analysis fit into the marketing research process?
• Are there any ethical concerns regarding competitive intelligence and analysis?
• How would you incorporate competitive intelligence and analysis into BevCo’s new beverage?