10/1/2015 marketing research 1. an experimental procedure that provides an opportunity to test a...
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04/21/23Marketing Research 1
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An experimental procedure that provides an opportunity to test a new product or a new marketing plan under realistic market conditions to measure sales or profit potential.
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ESTIMATEESTIMATEOUTCOMESOUTCOMES
IDENTIFY ANDIDENTIFY ANDCORRECTCORRECT
WEAKNESSESWEAKNESSESIN PLANSIN PLANS
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1. Define the Objective:
• What do you hope to learn?
• What are the people or products of interest?
2. Select a Basic Approach:
• Simulated, controlled, or standard test?
3. Develop Detailed Test Procedures:
• How will you execute the study?
• Who will be involved?
• How long will it take?
• How much can you spend?
Six Steps in a Test Market Study
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4. Select the Test Market:
• Market should not be over tested
• Should have little media spillover
• Demographics similar to your target population
• Large enough to provide useful results
• Distribution should be similar to the nation
5. Execute The Plan:
• How long should the test run?
• Who should execute it?
6. Analyze the results:
Use qualitative and quantitative techniques if possible.
Six Steps in a Test Market Study
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Population Demographic composition Lifestyle considerations Competitive situation Media coverage and isolation Self-contained trading area Secrecy
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Small city
Low chance of being detected
Distribution is forced (guaranteed)
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Cedar Rapids, Iowa Charlotte, North Carolina Columbus, Ohio Evansville, Indiana Eau Claire, Wisconsin Grand Junction. Colorado Little Rock, Arkansas Odessa-Midland, Texas Omaha, Nebraska Pittsfield, Massachusetts Tulsa, Oklahoma Wichita, Kansas Wichita Falls, Texas
04/21/23Marketing Research 8
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According to Environics Analytics, these are the top 10 cities most closely resembling the country as a whole…
Red Deer, Alta. Waterloo, Ont. Guelph, Ont. Kingston, Ont. Kelowna, B.C. Maple Ridge, B.C. Grande Prairie, Alta. London, Ont. Calgary, Alta. Langley, B.C.
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04/21/23Marketing Research 10