Marketing research
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This document outlines three common marketing research methods: the survey method, observation method, and experimental method. The survey method involves directly asking people questions through questionnaires. The observation method observes and records people's actions in response to given situations. The experimental method tests how people respond to controlled variations of marketing variables. The document provides steps for implementing each method and analyzing the collected data to define problems and report findings.
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3. The document provides examples of calculating breakeven point, price range, gross margin, operating expenses, net profit, markups, and markdowns to determine a selling price.14.1 The Economics of Price Decisions
14.1 The Economics of Price Decisionsioanekk
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Price is a key marketing tool that is used to allocate scarce resources and influence buying decisions. It represents the monetary value placed on a product or service. Price is determined by supply and demand - when demand is high and supply is low, price will be high, and vice versa. The elasticity of demand measures how sensitive consumers are to price changes - some products like necessities have inelastic demand while others have more elastic demand. Governments can also impact prices through taxation, regulation of competition, and directly regulating certain prices.The Product Mix
The Product Mixioanekk
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This document discusses different aspects of fine-tuning a product for consumers. It outlines key factors to consider such as product features, options, services, brand name, guarantees, packaging, and highlighting alternative uses. Product features can be required or optional. Options give consumers choice while services and plans provide ongoing support. Brand name and image aim to build loyalty by matching consumer needs. Guarantees assure customers. Packaging protects the product while providing purchase information. Highlighting additional uses can expand a product's applications. The document instructs picking a product and describing these various elements to refine how it is presented to buyers.Seeing the Problem Clearly
Seeing the Problem Clearlyioanekk
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This document outlines the steps to implement a marketing research study: 1) Define the problem by clearly stating it and getting reviews, 2) Analyze the situation by determining solutions and available information, 3) Develop a data collection procedure by identifying sources and methods, 4) Gather and study the information collected, and 5) Propose a solution after formally interpreting the data. The goal is for managers to apply the results to the original problem.Final assignments for accounting 4
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The document outlines the final assignments for an Accounting 4 class. It lists 23 chapters that were covered over the semester relating to financial statements, accounting cycles, payroll, sales, purchases, adjustments, and other accounting topics. Students must individually create a chart of accounts and one paragraph summary for each chapter. They can optionally complete study guides, practice problems, or multiple choice questions in groups. Larger optional group projects include educational videos, skits, presentations, or posters for each chapter. All assignments are due by May 10th.4.2 planning the offering(2 of 2)
4.2 planning the offering(2 of 2)ioanekk
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This document discusses the key elements of the marketing mix that must be considered to satisfy customers' needs:
1) Product - Features, design, size, and accessories can improve the product offering. Services like delivery and support should also be provided.
2) Price - Price is determined by costs and market factors. The objective is to maximize sales or profits. Price must signal the product's value.
3) Place - Distribution channels get the product to customers when and where they want it. Manufacturers rely on wholesalers and retailers.
4) Promotion - Communicating the benefits through advertising, promotions, publicity, and sales aids customers' purchase decisions.Recently uploaded (20)
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- Oliver Randall & David Bovis
- Own Your Autonomy
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David Bovis
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A Leadership and Culture Change expert, David is the originator of BTFA and The Dux Model.
With a Masters in Applied Neuroscience from the Institute of Organisational Neuroscience, he is widely regarded as the Go-To expert in the field, recognised as an inspiring keynote speaker and change strategist.
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Session | Own Your Autonomy The Importance of Autonomy in Project Management
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We want everyone to join the journey.
#OwnYourAutonomy is the culmination of 3 years of collaborative exploration within the Leadership Focus Group which is part of the APM People Interest Network. The work has been pulled together using the 5 HPTM速 Systems and the BTFA neuroscience leadership programme.
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Marketing research
- 2. Three Methods The Survey Method The Observation Method The Experimental Method
- 3. Survey Method Information is gathered from people directly through the use of questionnaires. Steps Create a list of questions Administer the survey, in person, through written form, etc. Record the data in a spreadsheet Types Yes-no Agree or disagree Select a,b,c,d Rate on a scale of 1-10 Open ended Focus group
- 4. Observation Method The actions of people are observed and recorded. Steps Identify what you will be observing. Watch and record their reactions and responses to given situations.
- 5. Experimental Method One or more marketing variables are observed under controlled conditions. Show different variables to different groups of people and record their responses. Tough to control might use a test market, or a simulation (kids playing with a toy) (computer simulations)
- 6. Data Analysis Compiling, analyzing, and interpreting of the results of data collection. Graphs, charts, tables, figures, etc.
- 7. Problem Definition What information do we need to acquire? How can you make the product different and/or better? Cell phone style, features, accessories, cost, usage.
- 8. In a group of 2 Define the problem, cell phone is your product. At least 5 Qs (Survey Method) Explanation of your Observation Method Explanation of your Experimental Method
- 9. Reporting your Findings Title Page Introduction (includes the problem under study, its importance, definitions, limitations of the study, and basic assumptions) Procedures used (research technique or techniques used) Findings (tables, graphs, etc.) Recommendations and summary
- 10. Reporting your Findings Title Page Introduction (includes the problem under study, its importance, definitions, limitations of the study, and basic assumptions) Procedures used (research technique or techniques used) Findings (tables, graphs, etc.) Recommendations and summary