Marketing Research Approach

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Business Finance

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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.

Format: APA

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MKT. 421 - Week Two Apply: Five Step Marketing Research Approach Presentation Feedback for: Content Does Not Meet Expectations Approaches Expectations Defined the Five-Step Marketing Attempted to define the Five-Step Research Approach and Marketing Research Approach. discussed the importance of Did not define the Five-Step Attempted to provide a logical research in marketing. Marketing Research Approach. Did rationale to support the not provide a logical rationale for importance of research in the importance of research in marketing but the rationale is not marketing. Specific details to clear. Specific details to support support the rationale are missing the rationale are incomplete and or incomplete and quality is poor. quality is below average. Described each step of the Attempted to describe each step Marketing Research Approach in of the Marketing Research detail and create a plan of Did not describe each step of the Approach in detail. Attempted to attack to explain how each stage Marketing Research Approach in provide a logical rationale to should be implemented. detail. Did not provide a logical support the creation of a plan of rationale for the creation of a plan attack to explain how each stage of attack to explain how each should be implemented but the stage should be implemented. rationale is not clear. Specific Specific details to support the details to support the rationale are rationale are missing or incomplete and quality is below incomplete and quality is poor. average. Defined 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. Attempted to define the target market that you are striving to Did not define the target market bring into this organization. that you are striving to bring into Attempted to provide a logical this organization. Did not provide rationale to support the methods a logical rationale for the methods of research that you will use to of research that you will use to identify these groups of people identify these groups of people. but the rationale is not clear. Specific details to support the Specific details to support the rationale are missing or rationale are incomplete and incomplete and quality is poor. quality is below average. Defined service differentiation Attempted to define service and provided an example that differentiation. Attempted to illustrates how the local Did not define service provide a logical rationale to nonprofit charity in the scenario differentiation. Did not provide a provide an example that illustrates can use differentiation to help logical rationale that illustrates how the local nonprofit charity in increase the target market's how the local nonprofit charity in the scenario can use the scenario can use differentiation to help increase interest Explained how differentiation will help position the charitable organization within its defined market. Executive presentation differentiation to help increase target market interest but the target market interest. Specific rationale is not clear. Specific details to support the rationale are details to support the rationale are missing or incomplete and quality incomplete and quality is below is poor. average. Attempted to explain how Did not explain how differentiation will help to position differentiation will help to position the charitable organization within the charitable organization within its defined market. Attempted to its defined market. Did not provide a logical rationale to provide a logical rationale for your support your explanation of how explanation of how differentiation differentiation will help to position will help to position the charitable the charitable organization within organization within its defined its defined market but the market. Specific details to support rationale is not clear. Specific the rationale are missing or details to support the rationale are incomplete and quality is poor. incomplete and quality is below Prepared a 10- to 15-slide visual presentation with detailed speaker notes as if you are making a presentation to senior executives of the company. The presentation was incomplete. Prepared a 10- to 15-slide visual presentation with detailed speaker notes as if you are making a presentation to senior executives of the company. The presentation was too basic. Presentation is organized in a logical or coherent manner but not both. Multiple errors in grammar and spelling. Presentation is generally organized in a logical and coherent manner; transitions, however, are awkward. Several errors in grammar and spelling. Mechanics Assignment Total Additional comments: Possible Points Points Earned Meets Expectations Exceeds Expectations Adequately defined the Five-Step Marketing Research Approach. Provided a clear, logical rationale to support the importance of research in marketing. Specific details to support the rationale are complete and quality is acceptable. Thoroughly define the Five-Step Marketing Research Approach. Provided a clear, logical rationale to support the importance of research in marketing. Specific details to support the rationale are complete and concise, and quality is exceptional. 4.1 Adequately described each step of the Marketing Research Approach in detail. Provided a clear, logical rationale to support the creation of a plan of attack to explain how each stage should be implemented. Specific details to support the rationale are complete and quality is acceptable. Thoroughly described each step of the Marketing Research Approach in detail. Provided a clear, logical rationale to support the creation of a plan of attack to explain how each stage should be implemented. Specific details to support the rationale are complete and concise, and quality is exceptional. 2.7 Adequately defined the target Thoroughly defined the target market that you are striving to market that you are striving to bring into this organization. bring into this organization. Provided a clear, logical rationale Provided a clear, logical rationale to support the methods of to support the methods of research that you will use to research that you will use to identify these groups of people. identify these groups of people. Specific details to support the Specific details to support the rationale are complete and quality rationale are complete and is acceptable. concise, and quality is exceptional. 2.7 Adequately defined service differentiation. Provided a clear, logical rationale to support an example that illustrates how the local nonprofit charity in the scenario can use differentiation to help increase target market interest. Specific details to support the rationale are complete and quality is Adequately explained how differentiation will help to position the charitable organization within its defined market. Provided a clear, logical rationale to support your explanation of how differentiation will help to position the charitable organization within its defined market. Specific details to support the rationale are complete and quality is acceptable. Thoroughly defined service differentiation. Provided a clear, logical rationale to support an example that illustrates how the local nonprofit charity in the scenario can use differentiation to help increase target market interest. Specific details to support the rationale are complete and concise, and quality is exceptional. Thoroughly explained how differentiation will help to position the charitable organization within its defined market. Provided a clear, logical rationale to support for your explanation of how differentiation will help to position the charitable organization within its defined market. Specific details to support the rationale are complete and concise, and quality is exceptional. Prepared a 10- to 15-slide visual presentation with detailed speaker notes as if you are making a presentation to senior executives of the company. The presentation was appropriate and complete. Prepared a 10- to 15-slide visual presentation with detailed speaker notes as if you are making a presentation to senior executives of the company. The presentation was substantial and in-depth. 0.7 Presentation is fully organized in a Presentation is generally logical and coherent manner; organized in a logical and coherent transitions are smooth and flow manner; transitions for the most seamlessly from one point to the part are smooth. Few errors in next. No errors in grammar and grammar and spelling. spelling. 0.7 2.7 1.4 15 0
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Marketing Research Approach
Name
Course
Date

Marketing Research
Approach


Market researches are essential to organizations
while creating a well thought and efficient
business and marketing plan



For marketing process to be effective, firms
require the support of data and research



Marketing research should not be considered as
an option, rather, it should be compulsory.

Five-Step Marketing
Research Approach


Marketing researches can be expensive for
organizations but with the right process, it does
not have to be expensive


The five step marketing approach has the following
steps


Define the problem,



Develop a research plan



Collect relevant information and data



Analyze the findings



Take action

Define The Problem


Defining the problem forms the most important
part of marketing research



One needs to know the purpose the research in
order to collect data and information.



An organization will determine the information to
be collected after defining the problem

Develop Your Research
Plan


After the examination of all problems and their
causes, the organization needs to build a
research plan



Sometimes a research plan can overwhelm the
designers/ cr...


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