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.
Create a 10- to 15-slide Microsoft® PowerPoint®, Prezi, or Microsoft® Sway® presentation with speaker notes 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.
Explanation & Answer
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Five Step Marketing research
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Introduction
The five-step marketing research is explained as the use of five
different as well as unique elements so as to understand and solve a
specific issue.
This special type of marketing research helps an organization to
understand the competition within the market.
Usually, a marketing research helps a business organization to align
itself with the market needs and also customer needs.
The market research is an effective way of understanding the future
needs of a market thus trying to be in line with the needs of the
market.
Five step research method
Define the problem
This is the initial stage and it focuses on identifying a given problem
and coming up with the primary objective which acts as a research
guide.
Before beginning a market research, one has to determine the
problem which is facing the particular business organization.
This step involves setting goals and objectives of conducting a given
market research.
In our case, the issue is to know the decline in the number of
subscribers and the repeat business within an organization.
The objective is to know the methods of preventing the current
situation which is faced by a given organization.
Developing a research plan
In this stage, one should consider the effectiveness of the method to be
used and also its cost.
Since our case is about a non-profit orga...
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