The Product Marketing Research Plan
Research is becoming much more critical to all aspects of business as competition gets more intense, and as consumers can choose between a wider array of products online. You will address just the first two steps of the market research planning process to better understand what is really involved in marketing research.
Develop a marketing research plan for a product.
Scenario: After your first couple of months as a product line manager with this new successful startup, ASG, you are called into the conference room. The marketing director announces that she has a product idea you need to research.
Checklist: (Steps 1 and 2 of marketing research planning)
· Define the problem and research objectives you want answered in line with the company’s mission and objectives.
· Determine how to go about getting answers to those research questions in the most time- and cost-efficient way while getting viable and significant data (i.e., determine the means of obtaining the data).
· Explain what type of data you will you need, primary or secondary.
· Explain what type of research you will pursue. Will you use quantitative or qualitative data? Explain why.
· Describe the sampling plan:
A) Who will you survey?
B) Sample Size: Knowing that all the people you intend to survey may not respond or may respond with an incomplete survey, how many people will you survey?
C) Sampling procedure: How will you go about finding your sample population? What will be a statistically significant measure?
D) How will you contact the subjects? Will you email them, phone them, etc.?
· Determine how to ensure the data is significant enough to make a decision as to whether or not the product development engineers should proceed with product development.
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