Exploring Market Dynamics through Research

Objective: Apply foundational marketing research concepts to analyze a chosen product or service in a real-world context.

Task:

1. Select a Product or Service: Choose a specific product or service that interests you, whether new to the market or existing.
2. Define Research Objectives:

• Clearly outline the main goals of your research. Identify the information you aim to uncover, such as customer preferences, market trends, or competitive landscape.

1. Conduct Secondary Research:

• Use online sources, industry reports, and available data to gather information about your chosen product or service. Summarize key findings related to market size, competitors, and recent trends.

1. Design a Survey:

• Develop a concise survey with questions targeting potential consumers. Focus on aspects like product preferences, factors influencing purchase decisions, and overall market perception.

1. Survey Implementation:

• Distribute the survey to a target audience, which could include friends, classmates, or online communities. Collect responses for later analysis.

1. Data Overview:

• Summarize and present the collected data in a clear format. Focus on identifying trends, patterns, and key insights.

1. Draw Informed Conclusions:

• Draw conclusions about the market for your chosen product or service based on your research. Highlight potential opportunities or challenges businesses might face.

1. Prepare a Comprehensive Report:

• Develop a detailed report that includes research objectives, secondary research findings, survey design, summarized data, conclusions, and recommendations.

Assessment Criteria:

• Clarity of research objectives
• The thoroughness of secondary research
• Effectiveness of survey design and implementation
• Coherent presentation of data
• The soundness of conclusions drawn
• Quality of the final report

Rubric

Market Research

Market Research

Criteria	Ratings	Pts
This criterion is linked to a Learning OutcomeResearch ObjectiveAnything and everything can be a topic for research. Develop the skill of identifying problems (stating hypothesis), detecting opportunities, or simply asking the right question!	5 pts Full Marks The objective clear and relevant 0 pts No Marks	5 pts
This criterion is linked to a Learning OutcomeData Collection MethodologyWhat data will you collect and how? Is it the most beneficial, cost-efficient, and feasible way for you? Use Primary and Secondary data, and all the traditional or emerging research tools (online search, database search, archives, interviews, focus groups, observations, and many many more! Invent your own tools, as long as they provide real hard data!)	5 pts Full Marks You are using the best, most appropriate for your objective and business capacity methodology. 0 pts No Marks	5 pts
This criterion is linked to a Learning OutcomeResearch Implementation and Data AnalysisCollect your data, and prepare reports for analysis (organize your data in a way that relates and answers to your research objective). It can be narration, spreadsheet, graph, scheme, anything at all as long as it answers your question clearly.	5 pts Full Marks All reports are clear!!! Data is cleaned and relevant. At least 3 different research methods are presented. For e.g online search (primary/secondary), observation (primary), internal reports analysis (secondary). 0 pts No Marks	5 pts
This criterion is linked to a Learning OutcomeInterpretation of FindingsHere write in style! this is a brief paragraph summarizing all of the above, and CLEARLY answering your Research Objective: it has to provide an answer, or a solution, and guidance on what to do next.	5 pts Full Marks The Conclusion is clear and explanatory, we have an understanding is Research Objective was supported, refuted, or a new Objective emerged. 0 pts No Marks	5 pts
Total Points: 20