Market Research & Product Development Review BMI3C
Chapter 4: Market Research What is market research? What is hard data? Primary vs. Secondary data Sources of secondary data
Chapter 4: Market Research Surveys Closed vs. Open ended questions Examples Qualitative vs. Quantitative research
Chapter 4: Market Research Ways to gather primary data Test marketing Internal information sources Surveys Focus Groups Direct Observation
Chapter 4: Market Research Consumer research AAU Consumer segmentation analysis Market dimension analysis Media research Consumer tracking devices Motivation research Consumer satisfaction studies Advertising research
Chapter 4: Market Research Competitive Research Competitive market analysis Competitive intelligence Pricing research Cojoint (tradeoff) analysis
Chapter 4: Market Research The research report statement of the research review of the data collection methods analysis of the data interpretation of the data summary of the findings
Chapter 5: Product Development Relationship between marketing dept. and production dept. Two fundamental questions Inventions vs. Innovations
Chapter 5: Product Development Stages of Product Development Idea generation Idea screening Concept development Market strategy Feasibility study Product design Test Marketing Product Launch
Chapter 5: Product Development Utility Form Utility Material Scent Flavour Colour Design Packaging
Chapter 5: Product Development Utility Information Place Time Possession
Chapter 5: Product Development Product Mapping MOA Benefit analysis
Test Part 1: Multiple Choice Part 2: True or false 10 questions /10 marks Part 2: True or false 20 questions /20 marks Part 3: Short Answer 6 questions /28 marks
Reminder Review questions due on test day (Monday)