Marketing Research Methods

Harveen Tatla & Simran Dhaliwal

Part A

1.   Explain marketing research process

·        Process with steps that allow you to run a marketing research study

Steps include:

1. Specify the issue                                                            

2. Define end goal of research                                                                                                   3. Choose data sources (how to confirm their research)                                                          4. Choose way to conduct research                                                                                          5. Set up a trial
6. Set a limit and deadline
7. Start the research
8. Go over your end result



2.   List 3 secondary data sources for both internal & external.

·        Internal: MIS reports, sales  report, customer reports

·        External: Retail audits, directories, government publications

3.   List 3 primary field data sources.

• Experiments
• Surveys 
• Focus groups

4.   Choose one of the primary field data sources.

a.   Explain it in more details (3 points)

b.   Explain the advantages & disadvantages (3 points each)

a)  Focus Group

•       Gather target audience in one place 
•        They test out product 
•        Give feedback to company 
•       Looks at how customer feels about it 
•        Way of qualitative research

b)   Advantages: 1. Feedback from the group you want to sell to

 2. Different responses

3. Honest reviews



Disadvantages: 1. Takes a lot of time

2. Hard to find people

3. No one may be willing to speak



Part B:

1.    What is a micro-environment and list 5 elements

Small factors that get in the way of a company


Elements include: 

• . Competitors
•  Local community 
• Employees
• Suppliers
• Customers

2. Types of competitive environment
- Pure Competition which is when no set buyer or producer that has a major influence over the market. Producers constantly have to match their prices to ongoing marketing evolution. 
- Imperfect competition is a market where multiple companies sell the same or similar products and have to compete with each other. Though there is a quality and price difference. 
- Monopoly is when competition lacks in the market or industry and there is only one major company or brand selling products in that particular industry. 
-Oligopoly is a small number of companies compete for consumer prices. The products are very similar, but the quality is different. 
3. 
a) An example of perfect competition is Nike VS Adidas. Both brands are very popular and worn by any people. 
b) An example of Monopolistic competition is Apple and Android. Both companies are very popular, even though there are other companies. Most people choose to purchase Samsung or Apple. 
c) An example of Oligopoly is Coca-Cola VS Pepsi. Both companies serve a similar beverage, but they are still both quite different.  
d) An example of Monopoly is like ICBC. They are the only major insurance company in BC. 
4. 
Porter’s five forces is threat of new entry, supplier power, competitive rivalry, buyer power, and threat of substitution. 
Threat of New entry – not expensive to enter a new industry, low barriers to entry, and training is needed but easy to get. 
Supplier power – similar products, ability to substitute and ability to change. 
Competitive rivalry – Commodity products, low customer loyalty, highest cost of leaving market. 
Buyer Power – few but large supermarkets, large orders. 
Threat of substitution – ability to import food, cross product substitution. 
5. The 5 main marketing types are….
- Micro Environment 
- Internal Environment 
- Macro Environment

- Export Environment 
- Government Environment  


6.  A macro environment is when the economy exists as a whole. The five elements are…
- Demographic forces 
- Economic forces 
- Socio-Cultural forces 
- Technological forces 
- Political forces