In CLA1, your assignment was to develop a marketing plan by conducting research to find out if a new demographic would be potential customers in your clothing stores in the suburbs.
The results are in and it appears that this new demographic in the suburbs will be willing to purchase your products, good job! One of the drawbacks of this type of market research is that the design process was time consuming and costly in terms of man hours.
As a result, you lost some of the market share due to new entrants to the clothing market who also targeted this demographic. In an effort to be proactive and continue to grow the organization by offering new products and selling them to a brand new demographic, you want to create a more intelligent design for market research and planning. In addition, you want this new design to be more robust and provide more detailed information about survey participants.
Your assignment for this CLA is to build on what research design you have already and create this intelligent marketing process that has the ability to utilize quantitative and qualitative data, has modular design in terms of constructs, and can assign sampling and survey/questionnaire design based on the data that is input.
Your report on this new intelligent research marketing process should be presented in a market research report and you should ensure proper data preparation and analysis.
MUST INCLUDE (in addition to the things mentioned above):
1. Develop a readymade research design that can be used whenever we want to. This can be done by anticipating the probable changes that can occur in the market as a whole in terms of constructs (for instance, pricing, promotion, market segment). Then create a set of survey questions related to these constructs.
2. How do you wish to conduct the survey when needed?