Marketing Research Analysis

Student Response 1

When attempting to present statistical analysis to an audience, it is important to breakdown all information and data into its simplest form. An efficient presentation is the best presentation because people are able to follow along with the presented analysis. I would advice a prominent use of charts and tables to illustrate differences and similarities among variables. “In reporting group differences to clients, marketing researchers often construct a group comparison chart” (Burns & Bush, 2012). Marketing researchers are constantly monitoring and analyzing differences that exist within the marketplace. “Gender is a demographic variable that is often used by marketers to segment their markets” (Burn & Bush, 2012). By reviewing secondary data that has been collected and combining it with existing primary data, market researchers can ensure a thorough presentation to participating audiences. Different demographics carry similarities and differences with one another and market researchers often compile these numbers in an effort form research questions. Potential research questions that could be useful to researchers include: (1) Are males and females different in terms of purchasing plants and (2) Are men and females different in terms of purchasing books of fiction. “[The market researcher] assesses how close the percent for one group is to the percent for another group with a type of differences analysis” (Burn & Bush, 2012). Different markets hold different numbers when it comes to gender and way people choose to spend their money. By viewing sample distribution numbers amongst items related to the intended research, market researchers do not have to rely on surveying methods. Demographic data is often broken down into percentages that can potentially enhance marketing research. Home improvement stores such as Home Depot and Lowe’s have garden nurseries where consumers are provided with an assortment of plants and necessary tools. Using company databases enable marketing researchers to identify significant differences between gender activities within the marketplace. This database technique would also be available for popular bookstores such as Barnes & Nobles. Burns, A. C. & Bush, R. F. (2012). Basic marketing research using Microsoft Excel data analysis (3rd ed.). Upper Saddle River, NJ: Pearson Prentice Hall.

Student response 2

The first research question I would ask is “What are the differences between products?” Looking for differences leads to market segmentation. Market segmentation states that within a product market, there are different types of consumers who have dissimilar requirements, and these differences can be the bases of marketing strategies. (Burns & Bush) The differences found must be meaningful and useful in order to be worth anything. The market segmentation process is done through careful and proper data analysis. In order to perform this data analysis and discover the differences I would construct a group comparison table. A group comparison table is made side-by-side where the groups are columns and the rows are the variables where significant differences are found. (Burns & Bush)

The second research question I would ask is “Are there any relationships among the variables?” A relationship is a consistent and systematic linkage between the levels or labels for two variables. Relationships are invaluable tools for the marketing researcher, because a relationship can be used for prediction and it fosters understanding of the phenomena under study. (Burns & Bush) I would use a stacked cylinder graph to show these variable relationships. 

Discussion 2

Student response 1

  It is always a challenge to design any ad campaign for the simple fact that the designers has to separate themselves from the final product and yet see themselves (and in some cases, their families) as a recipient of the message. “What are some new ideas for an ad campaign?” “Will a new service they are developing have appeal to customers and how can we improve it?” “How can we better package our product?” (Bush & Burns, 2012, p. 96) For the task at hand, I would conduct a “Focus Groups” like survey to get a feel for what would work best and then set about to create a hybrid message that will target both the young adults and families with children segment of the population. It is also a good idea to show the benefit of our product (Pizza) brings to individuals and families, namely a good time while relaxing and or watching their favorite show or at family get together.

Bush, Alvin C Burns and Ronald F. (2012) Basic Marketing Research with Excel, 3/e for  Ashford University, 3rd Edition. Pearson Learning Solutions. VitalBook file.

Student response 2

Trying to design an ad that targets both young adults and families is an challenge. It does make it harder if there is not enough in the budget to have to different campaigns. The way to solve this is to design an as that relates to both groups. In our text it describes a relationship as the linkage between the levels or labels for two variables. ( Burns & Bush 2012) This two groups are alike because for one they both enjoy pizza and that they enjoy getting together. Whether it is hanging out at home watching movies, playing group board games or even an video game. The ad could feature a group of friends enjoying playing a video game and eating pizza. Also you can show a family playing an board game or watching movies together with pizza.

Reference

Burns, A. C. & Bush, R. F. (2012). Basic marketing research using Microsoft Excel data analysis (3rd ed.). Upper Saddle River, NJ: Pearson Prentice Hall.