1. Market Research & Product Development Review
BMI3C

2. Chapter 4: Market Research
What is market research?
What is hard data?
Primary vs. Secondary data
Sources of secondary data

3. Chapter 4: Market Research
Surveys
Closed vs. Open ended questions
Examples
Qualitative vs. Quantitative research

4. Chapter 4: Market Research
Ways to gather primary data
Test marketing
Internal information sources
Surveys
Focus Groups
Direct Observation

5. 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

6. Chapter 4: Market Research
Competitive Research
Competitive market analysis
Competitive intelligence
Pricing research
Cojoint (tradeoff) analysis

7. 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

8. Chapter 5: Product Development
Relationship between marketing dept. and production dept.
Two fundamental questions
Inventions vs. Innovations

9. Chapter 5: Product Development
Stages of Product Development
Idea generation
Idea screening
Concept development
Market strategy
Feasibility study
Product design
Test Marketing
Product Launch

10. Chapter 5: Product Development
Utility
Form Utility
Material
Scent
Flavour
Colour
Design
Packaging

11. Chapter 5: Product Development
Utility
Information
Place
Time
Possession

12. Chapter 5: Product Development
Product Mapping
MOA
Benefit analysis

13. 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

14. Reminder
Review questions due on test day (Monday)