Assignment task:
Marketing Research Approach This activity is important because the marketing research approach provides firms with a systematic checklist for making business decisions. The goal of this activity is to demonstrate your understanding of the marketing research approach applied to the development of Fisher-Price's Rescue Heroes. The marketing research process consists of five consecutive steps: defining the problem, developing the research plan, collecting relevant information, developing findings, and taking marketing action. The Rescue Hero story: Fisher-Price noticed a societal trend called KGOY (kids are getting older younger) that was impacting the purchase patterns of toys. In response to this trend, Fisher-Price introduced an action figure called Everyday Heroes primarily targeted at children who historically have not used action figures (3- to 6-year-old boys). The company noticed that children in the target market seemed frustrated and gave up playing with the toy because it would fall over a lot. Parents certainly wouldn't want to buy a toy that their children won't like. Marketers decided to put large feet on a new prototype to prevent it from tipping over. The company's research objective was to determine if children preferred the new toy design by measuring the length of play time with the new