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Market research

 

Complete the text using these words:

Analyse annual concept data gather Guesswork habits inventory launch opinions Packaging promotions respondents significant statistics

 

Oh no, we'd never develop and (1).........a product solely on the basis of (2)..........That's much too risky. You can't just trust the intuition of senior managers or product managers, you have to do market research. That's what we call it in Britain, in the States they say marketing research. We collect and (3).........information about the size of a potential market, about consumers' tastes and (4)........., their reactions to particular product features, packaging features, and so on.

 

Lots of people think that market research just means going out and asking consumers for their (5).........of products, but that's not true. Actually, talking to customers is a relatively minor market research tool, because it's very expensive. In fact, personal interviewing is the very last thing we'd do. We usually find that our own accounts department, which keeps records of sales, orders, (6).........size, and so on, is a far more important source of information. Our sales representatives are another good source.

 

There are also a lot of printed sources of secondary (7).........we can use, including daily, weekly and monthly business newspapers, magazines and trade journals, our competitors' (8).........reports, official government (9)........., and reports published by private market research companies. We only engage in field work, and (10).........primary data from customers, middlemen, and so on, if both internal research (analysis of data already available in the accounts and sales departments) and secondary data (available in printed sources) are inadequate.

 

If we do go out and do field work it's usually a survey, which you can use to collect information about product and (11).........features, and to measure the effectiveness of advertising copy, advertising media, sales (12)........., distribution channels, and so on.

 

An effective and relatively inexpensive method of survey research is the focus group interview, where we invite several members of the target market (and pay them a small amount of money) to meet and discuss a product (13)..........The interview is led by a trained market researcher who tries to find out the potential consumers' opinions and feelings about the product.

 

Focus groups are informative, but they're usually too small for us to be sure that the chosen sample of consumers is statistically valid. Questionnaire research, involving many more (14)........., is more likely to be statistically (15).....'...., as long as we make sure we select the appropriate sampling unit - whether it's a random sample of the population, or a sample of a selected category of people -and the sample size is sufficiently large. When we've established a sample, we do the interviews, normally by telephone or mail, sometimes by personal interviewing.



 

The four P’s form the basis of the marketing mix. If you want to market a product successfully, you need to get this mix right. Match the P’s 1 to 4 to the definitions a) to d)

 

1. Product a) the cost to the buyer of goods or services

 

2. Price b) informing customers about products and persuading

them to buy them

3. Promotion c) where goods or services are available

 

4. Place d) goods or services that are sold

 

 

Listen to four consumers talking about different products. Decide which of the four Ps each speaker is discussing: product, price, promotion or place. (ML 7.1)

 

Listen to the first part of an interview with Mirjana Ilic, Vice President, Marketing, at Peardon Education about Successful marketing (ML 7.2)

 

Listen to the second part of the interview and answer the questions(ML 7.3):

 

1.Which campaign was most memorable for Mirjana?

2.Why did she find it memorable?

3.What was the fantastic strap line(slogan)?

4.What other strap lines do you know?

 

Listen to the last part of the interview and answer these questions (ML 7.4)

 

1.What type of company was involved?

2.What was the promise?

3.Why did it appear successful at first?

4.Why did they end the campaign?

 


Date: 2015-01-12; view: 2451


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