MKT421 UOPX Five Step Marketing Research Approach Essay

User Generated

Vibaar

Business Finance

University of Phoenix

Description

Scenario: You are the marketing manager for a local nonprofit charity whose funding is derived from membership fees. You have noticed a severe drop in new memberships and a decline in repeat memberships, which is threatening your organization's ability to survive and grow. You have decided to implement the Five-Step Marketing Research Approach to help clarify the problem and develop strategies for implementation.

Write a 1050 word essay on the Five-Step Marketing Research Approach in which you detail the steps you will use to address the membership issue that the local nonprofit charity is facing.

Address the following in your role as marketing manager:

  • Define the Five-Step Marketing Research Approach and discuss the importance of research in marketing.
  • Describe each step of the Marketing Research Approach in detail and create a plan of attack to explain how each stage should be implemented.
  • Define the target market that you are striving to bring into this organization and describe the methods of research that you will use to identify these groups of people.
  • Define service differentiation. Provide an example that illustrates how the local nonprofit charity in the scenario can use differentiation to help increase the target market's interest.
  • Explain how differentiation will help position the charitable organization within its defined market.

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Explanation & Answer

Attached.

Running Head: ASSIGNMENT ON SCENARIO

Assignment on Scenario
Name of student
School affiliations
Name of instructor
Date

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ASSIGNMENT ON SCENARIO

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Approaches of Research
Marketing research approach consists of five steps which include identifying and defining of the
problem of the organization, development of a plan for research, a gathering of information and
data regarded as relevant, findings development, and action taking respectively. The first step of
defining a problem involves identification of measurable and specific objectives which comprise
of the aims for conducting the research and the goals to get attained. The problem identified forms
the basis of the research activity. The second step of plan development for the study involves the
specification of likely constraints, the concepts, and methods to get used during the investigation.
On the third step, the researcher collects appropriate information and data, which involves both
secondary and primary data (Hair et al., 2008). The fourth step, which requires the development
of the problem consists of the researcher’s clear presentation of the findings. The last level of
marketing research that consists of taking action means that the researcher implements the
conclusions and recommendations obtained during the process of research. Evaluation of the
obtained results also gets applied in the last step.
Moreover, the process of researching for a market gets viewed as a significant concept because it
involves a combination of steps that help an organization to improve on its operations. For
instance, the process helps the organization to identify the various problems affecting it through
the...


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