The marketing research process include six steps, 1 ) determining the scope for marketing Research, 2 ) select the research method, 3 ) collect and prepare the data, 4 ) analyses the data, 5 ) transform the analysis results into information, and 6 ) report generation and presentation.
The first step is determining the scope for marketing Research. In this step, research should understand the purpose of study, the relevant background, what information is needed. In this case, Ryan, vice president of marketing for PDB knows she has three mission:1.?the detail of both energy drinks and sports drinks positioning, 2.?strengthen and weakness of each option,3.?the final recommendation for Crescent. After noticed what she needs, she asked Matt Levor, PDB?s director of market research, for help.
The second step is select the research method. Levor knew what exactly Ryan need and chose to conduct quantitative descriptive research but he had limited time in which to do research, so he used secondary research which included a study published by a beverage industry trade association, three consumer surveys conducted by a private research firm, several academic reports, and industry media coverage. And he also provides market and consumer data, competition, threats, and opportunities for both energy and sport drink.
The third step is collect and prepare the data. Levor exposed a consumer study that examined how consumers awareness energy drinks and sports drinks and a series of perceptual maps that measured consumer perception of leading sports drinks and energy drinks on two sets of paired factors: ( 1 ) energy and hydration, and ( 2 ) nutrition and taste. All the data are current enough and with high quality. Levor also made an online survey that asked basic demographic information and response. After collected all the survey data, he summarized it and made 2 tables for survey results. Levor got the feedback from 10 large Portland-area retailers that carried Crescent. Retailers pointed out that Crescent sold out quickly; some even though increased the price by 25% it still sold out before it was restocked. These retailers also told Levor the majority of consumers aged 18-30 and surprisingly find that there is a higher percentage of women consumers than they expected.
Step 4 is analyses the data. Levor emailed Ryan that he had conducted 3...