Consumer behavior research can be very expensive and time-consuming. How do companies decide/justify spending money on research? Many large companies that regularly conduct research begin with a very small exploratory project that is often performed using the expertise of the Marketing Department. You have been put in the position of conducting an exploratory research study to determine if an expensive outside Consumer Behavior Research firm should be hired to take the research to the next level. You will conduct an exploratory project that could assist the company in determining if the more expensive and time-consuming research should be used for additional, in-depth research.

You will conduct an exploratory research project of a product or service of your choice ( Lets Choose the Iphone created by Apple) and include a written analysis of your research and findings. You will provide recommendations for the company that justifies or discourages additional research supported by the findings of your exploratory research.

 Instructions

Include each of these Headings in your analysis:

Introduction:

Include introductory information about your product/brand including:

• the current status of the four P’s. (Do not include historic information – company beginnings, etc.).
• analyze factors that influence the Promotion Mix and Communication Process.
• the target market including:
  • demographics.
  • geographics, psychographics, and any behavior-based segmenting variables.
  • identify one market segment that you will discuss as a target market using segmenting variables.

Consumer Influences:

Identify and analyze three of the most relevant aspects of consumer influences and their effect on the sale/adoption of the brand/product item. Provide reasoning why you believe the influence is relevant.

Examples of what might be included:

• Attitude
• Perception
• Learning/Memory/Consumer Information Processing
• Motivation
• Emotion
• Personality
• External Influences

Marketing Strategy:

Identify current issues that might benefit from consumer behavior research. Compare and contrast the similarities and differences between advertising and direct marketing. Explain why companies change their promotional strategies to reach different audiences. Discuss the value of customer loyalty and the importance of satisfaction and complaint strategies. Relate influencer marketing to other forms of social communities and marketing strategies. Be sure to organize by paragraph.

Survey Consumers:

Create a 7 to 10-question survey on SurveyMonkey.com (Links to an external site.) (use the free option) using the questions developed in the marketing strategy. Collect survey results from 10-15 consumers that would be a part of the main target segment discussed in the introduction. In this section, tell how the survey participants were recruited to complete the survey. Were incentives offered? Were there difficulties in doing this?

Analyze Findings/Conclusion:

Analyze the findings from the survey, including a minimum of one table. Discuss how the findings might be included as the basis for a larger research project to be conducted by the brand. A copy of the survey itself and your resulting data must be included in your presentation (results can be in table form). Make recommendations regarding the potential for a larger study conducted (and why).

 Guidelines

• Support your analysis with a minimum of two Peer-reviewed (scholarly) articles. World Wide Web articles will NOT be accepted as support.
• Write in third person.

• Do not use direct quotes.

• Use the APA template  Download APA template.
  • Include a cover sheet and reference page.
  • Include in-text citations.
  • Include one-inch margins per APA guidelines.
  • Include page numbers and the appropriate heading in the header of the document.
  • Use Twelve point, Times New Roman font as required per APA.
  • Do not use contractions as required per APA (e.g. isn’t, wasn’t, can’t, etc.).
• Include correct spelling and grammar.

Extra Info could be helpful below.

https://open.lib.umn.edu/principlesmarketing/chapter/11-1-integrated-marketing-communications-imc/

https://open.lib.umn.edu/principlesmarketing/chapter/11-2-the-promotion-communication-mix/

https://open.lib.umn.edu/principlesmarketing/chapter/11-3-factors-influencing-the-promotion-mix-communication-process-and-message-problems/

https://open.lib.umn.edu/principlesmarketing/chapter/11-4-advertising-and-direct-marketing/

https://open.lib.umn.edu/principlesmarketing/chapter/11-5-message-strategies/

https://open.lib.umn.edu/principlesmarketing/chapter/11-6-the-promotion-budget/

https://open.lib.umn.edu/principlesmarketing/chapter/11-6-the-promotion-budget/