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 17, 2021

SUBJECT: Establishing the Basis

The case of ZEN Motors is most certainly a marketing problem that needs to be addressed through the market research process. Relying on data only from ZEN’s own MIS and random secondary data is irresponsible and does nothing to help the company to allow them to grow outside of what it already knows. ZEN Motors has seen a major drop in sales, the company needs to determine what problems exist so the company can begin to move forward.

Classification of Research: Identifying Market Opportunities and Problems

The first thing we should do is to identify market opportunities and problems. We will do this by completing a SWOT analysis, determining or identifying the demand and segments, and completing an environmental analysis study. By completing these studies, we can determine what the target customer’s problems are in the products, in return we can build or make improvements to the product that will meet our customer’s needs.

Concerns Moving Forward

ZEN Motors has had a major decrease in revenue, which is making them very hesitant to invest money into developing a new design. Nick is also hesitant about the changes because he says that he has seen environmental changes come and go before, and the customers also come back. These concerns make me a little hesitant that the company isn’t quite willing to make the changes needed. ZEN Motors needs to have an open mind about the marketing research process and be willing to in brace the results and make the changes needed.

References

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