MKT 324 Research Project Guidelines The purpose of this project is to review and apply the key concepts covered during the course. You will use the marketing research process to solve a marketing prob

TO: Nick Thomas, ZEN Motors CEO

FROM: Brandy Gardner

DATE: January 24, 2021

SUBJECT: Research Process

The first four steps in the Marketing Research Process are Problem Definition, Development of an Approach to the Problem, Research Design Formulation and Field Work or Data Collection. The first step in any marketing research study is to define the problem, while taking into account the purpose of the study, the relevant background information, what information is needed, and how it will be used in decision making. Nick is facing a number of problems the major ones are whether consumers are worried about global warming. If the choose of auto fuel will have a negative as it contributes to global warming and are nature harming things. The last problem is the competitive market, the auto field is a very competitive market and Nick has not clearly done the market research.

Next thing we will need to do is to figure how we will approach the Problems. The first two problems are whether consumers are worried about global warming and if the auto fuel Nick picks will have a negative as it contributes to global warming. Global warming is a concerning issue in the society but not everyone believes it. Thomas is divided about whether the threat of global warming is concerning for his business or not, also he needs to figure about ways in which he can deal with the effects and impact of global warming. I would suggest using the exploratory research this issue. Exploratory research also helps to define the terms and concepts. This research method is also a great way to clarify any problems and hypotheses.

Nick also has problem with the competitive market. Nick has clearly not done the market research about the auto market. He doesn't know the preference of the customers. I would use

Descriptive research for this problem. Descriptive research can be used to determine the answers of the questions about the customers’ attitude and behavior about products and brands. Descriptive research is undertaken to describe answers to questions of who, what, where, when and how. Therefore, this research method can be very helpful to answers any questions about customers attitude about brands, where they purchase, when they shop, how they found out about products and, many more.

The last step is Field work, or data collection, involves a field force or staff that operates either in the field, or personal interviewing. ("The Market Research Process | Boundless Marketing", 2021) For the first two problems Nick will need to do some research on global warming, and if the consumers are worried about this issue. Nick can research on global warming, by consulting with scientist. For the issues if the consumers are worried about this issue, Nick can run a survey thru the phone, email or etc. to all of their past customers and new ones asking if this is an issue they are concerned with.

For the last problem with the competitive market, Nick can conduct personal interviews thru focus group, in-home, mall intercept, or computer-assisted personal interviewing, and though the mail just to name a few. These will help Nick get a better idea about the competitive auto market and the preference of the customers.

By following these steps Nick will be able to get a better handle on the issues and will have a better feeling about making the important decisions needed for the company and its future.

References

Burns, A. C., & Bush, R. F. (2012). Basic Marketing Research: Using Microsoft Excel Data Analysis (3rd ed.). Upper Saddle River, NJ: Prentice Hall.

The Market Research Process | Boundless Marketing. (2021). Retrieved 24 January 2021, from https://courses.lumenlearning.com/boundless-marketing/chapter/the-market-research-process/