Marketing research June 2024

Description

Marketing Research

June 2024 Examination

 

 

1. You are the marketing director of Alpha motors your organization wants to launch a range of EV’s. Your company wants to conduct market research to establish customer needs and expectations prepare a research plan. Mention TG, Priority markets, research hypotheses in the plan along with success benchmarks for your research. (10 Marks)

Ans 1.

Introduction:

In the dynamic landscape of the automotive industry, the shift towards Electric Vehicles (EVs) presents both challenges and opportunities. As the Marketing Director of Alpha Motors, tasked with launching a range of EVs, it’s imperative to conduct comprehensive market research to understand customer needs and expectations. This research will be the cornerstone for devising effective marketing strategies and product development initiatives. By delving into the preferences, aspirations, and concerns of our target audience, we can tailor our offerings to resonate with their desires and create a competitive edge in the EV market. This research plan aims to outline the methodology, target groups (TG), priority markets, research hypotheses, and

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2. “Understanding TG is critical for marketing success” Prove or disprove this hypothesis by applying the 4 P’s of marketing for the company Alpha motors mentioned in question no 1. (10 Marks)

Ans 2.

Introduction:

The hypothesis that “Understanding Target Group (TG) is critical for marketing success” underscores the significance of aligning marketing strategies with the needs, preferences, and behaviors of specific consumer segments. In the context of Alpha Motors, a company planning to launch a range of Electric Vehicles (EVs), the application of the 4 P’s of marketing—Product, Price, Place, and Promotion—can illuminate the importance of comprehending the target audience. This introduction aims to delve into how understanding the TG influences

 

 

 

3. Your company is planning to launch a new range of soaps targeted to the Indian family. The category is cluttered with many similar products in such a scenario:
4. Define the TG and markets you shall target give justifications for your selection, why do you think target grouping is so important in market research. How will you target consumers differentiate your product with competition? (5 Marks)

Ans 3a.

Introduction:

Launching a new range of soaps in the Indian market poses a significant challenge due to the saturation and similarity of existing products. Defining the target group (TG) and selecting target markets are critical steps in ensuring the success of this endeavor. This introduction briefly highlights the importance of target grouping in market research and sets the stage for exploring the strategy for targeting consumers and differentiating the product from competitors.

Concept and application

In the crowded soap market of India, defining the target group and selecting the target markets are paramount

 

 

1. Create a 10 question questionnaire to conduct primary research in the target consumers, which sampling techniques would you use? Justify your reasons. (5 Marks)

Ans 3b.

Introduction

Designing a questionnaire for primary research is crucial for gaining insights into the preferences, behaviors, and perceptions of target consumers for our new range of soaps targeted at the Indian family. Additionally, selecting appropriate sampling techniques is essential to ensure the representativeness and reliability of the data collected.

Concept and applicaion