MKT 421 Week 2 (12 slides excluding first and reference slide)

· Define the Five-Step Marketing Research Approach and discuss the importance of research in marketing. 

· Describe each step of the Marketing Research Approach (one slide for each step) in detail including its goal, and create an example aligned to the scenario above to illustrate how that stage would be implemented toward the problem's solution.

· Define the two types of research data this process gathers and their pros and cons. Share examples of each type that would be useful in solving the scenario.

· Compare and contrast the Five-Step Process with two alternative methods for conducting marketing research. What are the pros and cons of each?

· Define what it means to differentiate a service and provide an example to illustrate how the local nonprofit charity in the scenario can use the strategy to help increase target market interest.

· Explain how differentiation will help position the organization.