Answer the below questions due in two hours

When developing a market research process, there is a standard process that has been successfully used repeatedly by many marketing professionals. The steps of the market research process include “define the problem and research objectives, develop the research plan, collect the information, analyze the information, present the findings, and make the decision” (Kotler & Keller, 2016, p. 102-115). One must first start with defining the problem and objective that they wish to accomplish. Failure to do so will result in wasted and aimless effort, as the work will be done blindly. Next, the research plan must be developed. Who is the target audience? How many people must be included in order to make the study viable? A larger sample size is better, but it must be manageable and realistic. One cannot possibly interview all available automobile owners due to the sheer number but speaking only with the nearest fifty is not a true representation of the target population.

After determining the sample audience, one must collect and analyze the information. Will the subjects be contacted via direct mail, email, telephone, or in-person interviews? The questions that are asked must be consistent and clear. Care must be taken to ensure the data validity, or the data may be unusable and compromise the entire study. Failure to properly analyze the data will also corrupt the study. Unbiased application of proper analysis techniques is essential to providing useful results.

After collection and analysis, the findings must be presented so a decision may be made. The analysis of the data must be presented in a format that the is clear and easy to understand, as well as formatted to the audience. Advertising executives cannot make use of raw data, but instead rely on graphs, charts, and trend analysis to make decisions. Finally, the research must able to help people decide. Research without a clear product is a wasted effort.

Research

“Marketers must consider the ethical, environmental, legal, and social context of their activities” (Kotler & Keller, 2016, p. 15). A “good man” will conduct their activities in an honorable manner. Care must be taken to ensure that the company is not compromised by the actions of dishonorable people and activities.

There are three types of people that must be considered when presenting ideas and plans. Marketing plans must be developed that address positive, neutral, and negative stakeholders (Meredith, 2016, p. 519). Not all people will be excited about a plan. Some will be indifferent, and others will completely oppose the ideas. It is likely that no single marketing plan will satisfy each of these distinct groups.

Analysis

In order to create a marketing plan, proper research must be conducted. Yoshi was started in 2015 and is currently available in 18 major cities across America. Much of its growth occurred in the last 12 months. Without widespread name recognition, research will need to include the ways to overcome this hurdle.

The idea of mobile auto service is a revolutionary new idea. There are very few competitors in the market, but there is also very little product information. If research is done regarding a known product idea, people will react differently than an unknown idea. For example, most people are aware of the purposes of a facial tissue. They only need to communicate their preferences. However, most people are unfamiliar with the notion of automobile service brought to the vehicle rather than the vehicle to the service. The idea must understood first before specific desires in the service can be formed.

Which forms of marketing research would be best in gathering consumer information relating to the product/service?

Theory

Marketing research takes on many different forms. Some of these include focus groups, one-on-one interviews, phone surveys, and product testing (Kotler & Keller, 2016, p. 111-113). However, not every form is applicable to every type of product or service. It is important that the appropriate form of marketing research be determined to ensure that the research is valid and applicable.

Research

The nature of the Yoshi business allows customers to utilize a website or mobile application to schedule proactive and reactive services (Yoshi, 2018). Since both current and potential customers must be able to utilize these modern technologies, it is only fitting that Internet-based methodologies be leveraged for market research. Researchers have utilized the Internet in order to find and recruit study participants and collect data (Goodman & Paolacci, 2017, p. 196). These online methods include embedded questionnaires and banner advertisements on related websites. Many people today do not respond well to telephone interviews, given the current perceptions of telemarketers (Kotler & Keller, 2016, p. 111). Personal interviews could also be leveraged, as they allow a more interactive and adaptive line of questioning.

Analysis

There are many opportunities available to perform market research. However, one must consider the nature of the business, product, and its application to find a suitable target audience. It is relevant to leverage technology products when exploring technology companies. It is not relevant to survey individuals in areas that have a high utilization of public transportation about an automotive product. Once this target audience has been identified, a suitable research contact method can be selected. The online contact appears to be the one that can reach the most people in the most diverse areas, in order to survey both current and future markets. The cost of online contact methods is considerably less expensive than more resource intensive methods. These factors all combine to make the selection process much simpler.

Conclusion

Marketing endeavors start with proper research in order to increase speed and efficiency, reduce cost, and ensure timely delivery of an appropriate product. The most important part of marketing research is to define and answer the problem so that a decision can be made. The proper tools must be leveraged in a suitable, ethical, and efficient manner in order to achieve the desired result. Failure of any step is unacceptable, and the customer and company will ultimately suffer. Marketing professionals must learn from historical lessons to ensure that they move forward in the ever-changing market.

References

Goodman, J. K., & Paolacci, G. (2017). Crowdsourcing Consumer Research. Journal of Consumer Research, 44(1), 196–210. https://doi-org.ezproxy.liberty.edu/10.1093/jcr/ucx047

Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Upper Saddle River, N.J: Pearson Prentice Hall.

Meredith, L. (2016). Multiple marketing plans: An analytical template. The Journal of Business & Industrial Marketing, 31(4), 519-530. Retrieved from http://ezproxy.liberty.edu/login?url=https://search-proquest-com.ezproxy.liberty.edu/docview/1826811511?accountid=12085

Yoshi. (2018). Retrieved from https://www.startyoshi.com.