Homework
1. Define your central research area/questions. What questions should you be asking? How and where should you spend your efforts?
2. Identify resources that will likely help you answer your questions.
3. Download and review the Market Research Template. You will use it to complete this homework.
4. [Optional] Download and review the Market Research Ideas and Concept Sheet. Use it as a way to focus your thoughts as you begin your research.
5. It is not to be turned in.
Instructions:Conduct your primary market research and document using the Market Research Template. The completed document should do the following:
1. Define the research problem or challenge. (It should state the elements, questions, or problems that your research is designed to resolve)
2. Summarize your overall research approach, focus, and methodology (How will you obtain the information/data).
3. Present data (and its sources) that supports answers to your main research questions and stated challenge in an effective manner. It should minimally include data on:
a) The 4 P's of Marketing.
o Product (in this case, service).
o Price.
o Placement.
o Promotion.
b) Competitors.
o Number, services, location, market share, etc.
c) Customers.
4. Demographics, location, income, education, etc.
5. Synthesize your research: Describe and prioritize two or three research conclusions that will likely guide your marketing plans. Make sure to highlight and summarize pertinent information from your sources that support your conclusions.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.