Solving the Problem: Five-Step Marketing Research Approach Presentation homework help

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Question Description

Purpose of Assignment

The purpose of this assignment is to place students in the active role of a marketing manager with a problem threatening the organization's survival. Students will respond to a specific scenario that requires them to address the concepts both critically and creatively to solve the scenario's dilemma.

Assignment Steps

Resources: Marketing: Ch. 2: pg. 40-46, 54-69; Ch. 3: pg. 72-92; Ch. 8: pg. 207-227; Ch. 9: pg. 242-257; Week 2 video

Scenario: You are the marketing manager for a local nonprofit charity whose funding is based on membership fees. You've 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 Process to help understand the problem and create solution strategies to implement.

Create a 10- to 20-slide (not counting the cover slide and reference slide) Microsoft® PowerPoint® presentation with speaker's notes on the Five-Step Marketing Research Approach detailing how you will use each step to solve the membership issue 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 (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.

Tutor Answer

textsformoney
School: Purdue University

Thank you

MARKET RESEARCH
STUDENT’S NAME
INSTITUTION
DATE:

FIVE STEP RESEARCH METHOD



A five step marketing research can be defined as the use of five unique element in trying to understand the problem and

solving it .


Market research helps the company understand the competition



Market research helps the company to align with the market needs and thus customers wants.



Market research is the perfect to0l of understanding the future market needs and thus trying to align with their

provisions.


Market research helps the organization to understand the economic trends and try to define ways of dealing with them

ILLUSTRATION OF THE FIVE STEP METHOD

PROBLEM DEFINITION



It can be said to the foundation of trying to understand the situation that is facing the organization.



Before one starts the market research one has to decide which problem is currently facing the organization .



It deals with establishing the objectives of conducting the market research so that it can act as the guide.



The phase also include developing the research question that should be used in the process of research.



In this case the problem is understanding the decline in the number of subscribers and also for the repeat business within the

organization.


The goals is to find ways of averting the current situation that the organization is facing

DEVELOPING THE RESEARCH PLAN



After the problem has been identified the next step is developing the research plan.



The plan shoul...

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