Question 1: What is involved in marketing research, and why do companies use it?
Question 2: Describe how it is used each of the following marketing research methods:
- Perceptual mapping for positioning
- Scanner data for pricing and coupon experiments and brand switching
- Surveys for assessing customer satisfaction
- Focus groups for concept testing
- Cluster analysis for segmentation
- Conjoint analysis for testing attributes
Question 3: Assume you are a top-level manager and decided to use a single focus group. You get excited you will know what some customers say and be able to prepare a marketing plan with the results. Why do you know this is premature? Conversely, how many focus groups are enough to support a marketing plan?
Question 4: Imagine designing a conjoint analysis for an ice cream parlor. In particular, you're in charge of the phone and curve orders. While they're a simple foodstuff, they can be created in many combinations. What factors should you test in terms of your customers' likely preferences? Design a conjoint analysis that would identify 2 or 3 popular combinations that your customers could order daily. Which combination would make your customers most satisfied?