Marketing Methods

Bryan Shen

 Part A

 1:  Explain marketing research process.

   ·Come up with a question

   ·Find research objectives  

   ·Choose data sources

   ·Choose research methods

   ·make a sample

   ·Set budget and deadline

   ·Start research

   ·Analysis and find a result

2:  List 3 secondary data sources for both           

     internal & external.                    

      Internal:                                   External:

   ·Cost data                    ·Competitor informations

   ·Sales figures              ·Government publications

   ·Customer reports       ·Commercial publications                       

3:  List 3 primary field data sources.

   ·Experiments

   ·Surveys

   ·Interviews

4: Choose one of the primary field data sources.           ·Interviews

    Explain it in more details (3 points)

   ·It is a conversation that include asking      

     questions and answering questions.              

   ·It usually take place face to face and in persons.

   ·Generally speaking,it has a main topic and it   

     will last for some time.

    Explain the advantages & disadvantages (3   

    points each）

     advantages:                             

    ·it will get responses in more details.                               ·it could give respondents more time to think.                ·the datas are exclusive and authentic.

     disadvantages:                                     

    ·it will cost a lot of money

    ·it will take a long time

    ·it needs strong interview skills.

  Part B

  1:What is a micro-environment and list

     5 elements

    micro-environment:

    It is like the internal environment of the   

    company,this includes all Departmentalization    

    departments. Each of these departments   

    influences marketing decisions.

    5 elements:

   ·Customers

   ·Competitors

   ·Employees

   ·Intermediaries

   ·Suppliers

   2:List and describe the four categories of     

      competitor environment

   ·Direct competitors:

       companies that produce similar products  

       and is direct rival.

   ·Close competitors:

       companies that produce similar products

       but is not a direct rival

    ·Substitutes:

       they might be different products but can   

       be substitutes.

   ·Indirect competition:

       all other companies that compete for   

       consumers’ money are indirect competitions.

  3:Define and provide an example from your    

     experiences

  ·Perfect competition:

     many companies sell goods to customers.

     For example,if I want to buy snacks,there 

     are many kinds for me to choose.

  ·Monopolistic competition:

     many companies sell different goods over

     which they have a monopoly.For example,there 

     are lots of Starbucks over the world,but they do    

     not sell the same thing.

  ·Oligopoly:

     it is a competition between a small number  

     of companies.For example,if I want to get a  

     phone number in Canada,there are only a   

     small number of companies I can choose,such

     as Fido,Bell,Rogers……

  

  ·Monopoly:

     with only one company and they can control

     the price.For example,there is only one big

     restaurant in PNE,so if I want to have a big

     lunch,I can only go to that place.

  4:List and describe Porter’s five forces.

    ·Intensity of existing competition:

      for most companies the intensity of competitive

      rivalry is the major factor that decide the  

      companies will succeed or not.

   ·Barrier(or lack of)to the entry:

     the new competitors will be strong in the market.

   ·Threat of substitute:

     a substitute product uses a different way to try    

     to solve the same economic need.

   ·Bargaining power of customers:

     dominant customers will drive down price.

   ·Bargaining power of suppliers:

     dominant suppliers will force up price.

  5:List the 5 main market environment types.

   ·Consumer or B2C markets

   ·Business or B2B markets

   ·Export markets

   ·Government markets

   ·Reseller markets

  6:What is a macro-environment and list 5    

     elements

    macro-environment:The major external    

     factors that influence an organization's  

     decision, and affect its marketing strategies.

   ·Marco-economic environment

   ·Political environment

   ·Social and cultural environment

   ·Demographic environment

   ·Technical environment