MKT 324 Research Project Guidelines The purpose of this project is to review and apply the key concepts covered during the course. You will use the marketing research process to solve a marketing prob

MKT 324 Research Project Guidelines The purpose of this project is to review and apply the key concepts covered during the course. You will use the marketing research process to solve a marketing prob
TO: Nick Thomas, ZEN Motors CEO FROM: Brandy Gardner DATE: February 7, 2021 SUBJECT: Research Process A carefully constructed questionnaire is essential to the success of any survey, so when developing a questionnaire, you want respondents to tell you how they really feel, not how you want them to feel. So you want to make sure to ask questions that won’t require much or any thought. So while designing this questionnaire, we want to make sure to add in questions for the students about their lifestyle not just about the vehicles. For the questionnaire I chose to start off by asking questions about the Students college life. What their major is, financing and their traveling to and from school. This will help us get an idea about how much they will use the vehicle. The next questions will be a about global warning. Asking their opinions on global warming will allow us to get a better idea if global warming, and using certain fuel is an important issue to them and if it will affect their vehicle buying habits. ­The last bit of questions will be about the student’s lifestyle. These questions will help us determining a little bit more about our target market. When we have collected all of the data we should have gain insights into what type of vehicle college students are looking for and our more likely to buy. Are you currently a resident of the United States and 18 years of age or older? You are currently majoring in the field of: Your status as a student is: Your sources of financing for attending the University are:  Personal loan  Scholarship  Government Sponsored /Free tuition  Self-financed (from own salary or other)  Parents and/or relatives  Other Where are you traveling from?  home  work  other school  other ______________ How long does it take you to travel to school on a typical day (minutes one way)?  0 to 15  16 to 30  31 to 45  46 to 90  90+ How many hours are you usually at school each day?  Less than 2  2 to 5  6 to 8  8+ How many miles (one way, approximately) do you travel to school on a typical day?  0 to 10  11 to 20  21 to 40  41 to 60  61+ Statement Strongly agree Agree Neither agree nor disagree Disagree Strongly disagree Global warming is a real threat Are you worried about Global Warming Do you feel it a necessity to reduce global warming Do you feel that alternative fuel should be used to decrease Global warming? You perf to buy a vehicle that utilizes solar energy. You perf to buy a vehicle that utilizes electricity. You perf to buy a standard size vehicle that utilizes synthetic fuel. Your Preferred type of magazine is Lifestyle magazine Your Preferred type of magazine is Business magazine Your Preferred type of T.V Show is Comedy. Your Preferred type of T.V Show is Drama. Your Preferred type of music is Country. Your Preferred type of music is pop. You taken steps in reducing your impact on global warming. The cost of gasoline effects to type of vehicle you want buy. You drive to school every day. You perf to have your own vehicle to drive around. You perf standard vehicle to mini size vehicles. You have already made up your mind on the type of vehicle you are going to buy. References Burns, A. C., & Bush, R. F. (2012). Basic Marketing Research: Using Microsoft Excel Data Analysis (3rd ed.). Upper Saddle River, NJ: Prentice Hall. Market Research Surveys: The Quick Start Guide | SurveyMonkey. (2021). Retrieved 7 February 2021, from https://www.surveymonkey.com/mp/market-research-surveys/
MKT 324 Research Project Guidelines The purpose of this project is to review and apply the key concepts covered during the course. You will use the marketing research process to solve a marketing prob
TO: Nick Thomas, ZEN Motors CEO FROM: Brandy Gardner DATE: January 31, 2021 SUBJECT: Research Process Nick and Ashley are looking for a marketing strategy that will enable them to answer the following objectives Identify consumer preferences for different types of cars, identify a theme between values of the consumer and the car style, determine consumer priority of social recognition versus environmentally conscious vehicles and determine consumer attitudes about car style and fuel costs. For the purpose of Nick and Ashley’s secondary data research I would recommend using is websites. Secondary data is the data that has already been collected through primary sources and made readily available for researchers to use for their own research. There are many websites out there that can help with this, because many of them have collected the date. The first site and article I would recommend would be Edmunds article titled Most popular cars in America. This article is a list of the top-selling vehicles by state, as determined by Edmunds data collected over the course of 2020*†. This list could be very helpful with finding out what type of car is the most popular. The second article I would recommend is Insurify article titled The Most Popular Cars by State. This article uses data collected from over 2 million car insurance applications. This article also lists the cars general price, miles per gallon and NHTSA Overall Safety Rating which could all be very helpful to Nick with determining consumer attitudes about car style and fuel costs. By using these secondary data articles Nick and Ashley can get a better idea on the consumer preferences on types of cars prefer in which would help answer their questions about consumer preferences for different types of cars and consumer attitudes about car style and fuel costs. References Burns, A. C., & Bush, R. F. (2012). Basic Marketing Research: Using Microsoft Excel Data Analysis (3rd ed.). Upper Saddle River, NJ: Prentice Hall. These are America’s MOST POPULAR CARS. (2021). Retrieved 1 February 2021, from https://insurify.com/insights/most-popular-cars-by-state-2020/ Most popular cars in America. (2021). Retrieved 31 January 2021, from https://www.edmunds.com/most-popular-cars/
MKT 324 Research Project Guidelines The purpose of this project is to review and apply the key concepts covered during the course. You will use the marketing research process to solve a marketing prob
TO: Nick Thomas, ZEN Motors CEO FROM: Brandy Gardner DATE: January 24, 2021 SUBJECT: Research Process The first four steps in the Marketing Research Process are Problem Definition, Development of an Approach to the Problem, Research Design Formulation and Field Work or Data Collection. The first step in any marketing research study is to define the problem, while taking into account the purpose of the study, the relevant background information, what information is needed, and how it will be used in decision making. Nick is facing a number of problems the major ones are whether consumers are worried about global warming. If the choose of auto fuel will have a negative as it contributes to global warming and are nature harming things. The last problem is the competitive market, the auto field is a very competitive market and Nick has not clearly done the market research. Next thing we will need to do is to figure how we will approach the Problems. The first two problems are whether consumers are worried about global warming and if the auto fuel Nick picks will have a negative as it contributes to global warming. Global warming is a concerning issue in the society but not everyone believes it. Thomas is divided about whether the threat of global warming is concerning for his business or not, also he needs to figure about ways in which he can deal with the effects and impact of global warming. I would suggest using the exploratory research this issue. Exploratory research also helps to define the terms and concepts. This research method is also a great way to clarify any problems and hypotheses. Nick also has problem with the competitive market. Nick has clearly not done the market research about the auto market. He doesn’t know the preference of the customers. I would use Descriptive research for this problem. Descriptive research can be used to determine the answers of the questions about the customers’ attitude and behavior about products and brands. Descriptive research is undertaken to describe answers to questions of who, what, where, when and how. Therefore, this research method can be very helpful to answers any questions about customers attitude about brands, where they purchase, when they shop, how they found out about products and, many more. The last step is Field work, or data collection, involves a field force or staff that operates either in the field, or personal interviewing. (“The Market Research Process | Boundless Marketing”, 2021) For the first two problems Nick will need to do some research on global warming, and if the consumers are worried about this issue. Nick can research on global warming, by consulting with scientist. For the issues if the consumers are worried about this issue, Nick can run a survey thru the phone, email or etc. to all of their past customers and new ones asking if this is an issue they are concerned with. For the last problem with the competitive market, Nick can conduct personal interviews thru focus group, in-home, mall intercept, or computer-assisted personal interviewing, and though the mail just to name a few. These will help Nick get a better idea about the competitive auto market and the preference of the customers. By following these steps Nick will be able to get a better handle on the issues and will have a better feeling about making the important decisions needed for the company and its future. References Burns, A. C., & Bush, R. F. (2012). Basic Marketing Research: Using Microsoft Excel Data Analysis (3rd ed.). Upper Saddle River, NJ: Prentice Hall. The Market Research Process | Boundless Marketing. (2021). Retrieved 24 January 2021, from https://courses.lumenlearning.com/boundless-marketing/chapter/the-market-research-process/
MKT 324 Research Project Guidelines The purpose of this project is to review and apply the key concepts covered during the course. You will use the marketing research process to solve a marketing prob
TO: Nick Thomas, ZEN Motors CEO FROM: Brandy Gardner DATE: January 17, 2021 SUBJECT: Establishing the Basis The case of ZEN Motors is most certainly a marketing problem that needs to be addressed through the market research process. Relying on data only from ZEN’s own MIS and random secondary data is irresponsible and does nothing to help the company to allow them to grow outside of what it already knows. ZEN Motors has seen a major drop in sales, the company needs to determine what problems exist so the company can begin to move forward. Classification of Research: Identifying Market Opportunities and Problems The first thing we should do is to identify market opportunities and problems. We will do this by completing a SWOT analysis, determining or identifying the demand and segments, and completing an environmental analysis study. By completing these studies, we can determine what the target customer’s problems are in the products, in return we can build or make improvements to the product that will meet our customer’s needs. Concerns Moving Forward ZEN Motors has had a major decrease in revenue, which is making them very hesitant to invest money into developing a new design. Nick is also hesitant about the changes because he says that he has seen environmental changes come and go before, and the customers also come back. These concerns make me a little hesitant that the company isn’t quite willing to make the changes needed. ZEN Motors needs to have an open mind about the marketing research process and be willing to in brace the results and make the changes needed. References Burns, A. C., & Bush, R. F. (2012). Basic Marketing Research: Using Microsoft Excel Data Analysis (3rd ed.). Upper Saddle River, NJ: Prentice Hall.
MKT 324 Research Project Guidelines The purpose of this project is to review and apply the key concepts covered during the course. You will use the marketing research process to solve a marketing prob
TO: Nick Thomas, ZEN Motors CEO FROM: Brandy Gardner DATE: February 10, 2021 SUBJECT: Research Process Surveys would be meaningless and incomplete without accounting for the respondents that they are aimed at. Sampling helps a lot in research. It is one of the most important factors which determines the accuracy of your research/survey result. There are two types of sampling methods: Probability sampling and Non-probability. Probability sampling means that every member of the population has a chance of being selected, non-probability sample, individuals are selected based on non-random criteria, and not every individual has a chance of being included. I feel with the survey we created; probability sampling will be the best option for us to collect the best data. There are four main types of probability sample they are Simple random sampling, Systematic sampling, Stratified sampling, and Cluster sampling. The two probability sample methods I would suggest using are stratified sampling, and cluster sampling. Cluster sampling is a method where the researchers divide the entire population into sections or clusters that represent a population. (“Types Of Sampling: Sampling Methods With Examples | Questionpro”) Clusters are based on demographic parameters like sex, location and etc. This makes it very simple for a survey creator to collect the data feedback, without any issues. Stratified sampling involves dividing the population into subpopulations that may differ in important ways. This allows us to avoid any issues with random sampling and ensures that every category of the population well represented. I feel it is important for us to make sure we have everyone represented in the data and the results will give us a good percentage for the results. A 95% confidence interval is better because you will have a 5% chance of being wrong. A 99% confidence interval will be wider than a 95% confidence interval. I feel if we use the probability sampling methods stratified sampling, and cluster sampling we will get the best results from our survey and allow us to collect data that will allow us to gain insights into what type of preferences people have when choosing a vehicle. References Burns, A. C., & Bush, R. F. (2012). Basic Marketing Research: Using Microsoft Excel Data Analysis (3rd ed.). Upper Saddle River, NJ: Prentice Hall. Market Research Surveys: The Quick Start Guide | SurveyMonkey. (2021). Retrieved 7 February 2021, from https://www.surveymonkey.com/mp/market-research-surveys/ “Types Of Sampling: Sampling Methods With Examples | Questionpro”. Questionpro, 2021, https://www.questionpro.com/blog/types-of-sampling-for-social-research/.