Researching

 

TLW:

Preform primary marketing research

Determine if Product is appropate of the target market based on market research

Select approprate channels of distribution to reach target market

Evaluate the effectiveness of promotional efforts

Discuss Price based on target markets demand

 

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Marketing Research

 

Step 1:  Finding out what you need to know before investing in a business. Ex: If someone was selling candy they would find out how much people are willing to pay, what audience are they trying to sell to, where they are going to sell the candy at, and more. Find out what is needed to be done. Find information out about your competition.

 

Step 2:  Select a Research Method - answering the market research questions by using different methods such as surveys or observation. Find a way to solve the problem or answer the question.

 

Step 3:  Collect Data- when you collect data, you should collect it from demographic and psychographic data, and also on economic trends and industry forecast, you can also design a questionnaire. Find and collect important data to also help you define the question.

 

Step 4:  Analyze Data- interpreting the information, questions, and data to refer back to later. look deeper into the data collected.

 

Step 5:  Draw a Conclusion- determining how to use the information you collected, this is when you develop a plan of action. Form a plan that will help you satisfy step 1.

 

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Post the Customer Questionnaire you created for your business here:

-Questionnaire

 

Thank you for participating in our questionnaire, we appreciate all your help in finding out the needs of the students in the school. Please, when filled out, put in the locker of Kelbie Noll.

 

Please check in the box or fill in the blank that best describes your interest/ information.

 

Size of shirt:

Gender:     MALE            FEMALE

Main color:    BLACK         WHITE         GREEN 

Do you like sweatshirts?     YES           NO

Would you buy a sweatshirt for $25.00?

 

Questionnaire

 

Please select your choices (be honest)

Return to either: Amber Huffman, Shelby Doty, Heather Zacharias, Eric Ballard

 

Favorite Spirit Item:

Color: Green     Black    

Do you wear mardi gras beads? Yes     No

Would you buy a green megaphone if we bought them: Yes     No

 

 

 

Evaluate the Questionairs for the information they will attain.

 

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Post the Data Collected from the questionairs here.

 

What does this data tell you about the target market for each business?  Should the businesses make changes?

 

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Channels of distribution: 

 

 

How are you going to get your product to your target market?  Discuss how this is working for you and ways you or others could improve.

We're going to get our product to our target market by selling them at all games and most school sponosored events. This is working for us because younger children like to buy our products and we could improve by trying to sell more often and getting the word out about our products better.

 

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Promotion:

 

Post promotional ads from at least three companies each.  Discuss if they have effective promotions and what their target market might be.

 

www.savemolives.com/programs/promoandmaterial.htm--yes, some people this to this just because of the ad. They're tageting everyone who drives a vehicle.

www.angelfire.com/wrestling/cawthon777/ad.htm--yes, people go to the wrestling matches. They're targeting people who like to watch wrestling.

www.celebritypwn.com/pwn/britney_spears/13754/--yes they have effective promotions people by this produbt. Their target market are females and probably younger girls who look up to britney spears.

 

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