Principles of marketing/PMKT102/Researching customer needs and preferences/Researching needs skills challenge

Challenge summary

Summary:	How would you research customer needs and preferences for this product?
	2-3 hours

During this challenge you will write a blog post on your WordPress blog, and respond substantively to at least two (2) of your peers.

Start here

Stimulus resources

Review the previously assigned readings and the following supplemental resources:

• Marketing and market research, in Wikipedia.
• Color in Chinese culture, in Wikipedia.
• Glad Wrap frantically reworking new cutter design after public outrage and threats to boycott the product, by Sarah Carty, Daily Mail Australia, published January 23, 2015
• Types of market research, in Wikipedia.
• Video - Human Hamster Wheel for the Ultimate Standing Desk

Purpose

The purpose of this learning challenge is to:

• Explain how you would conduct market research, on one (1) of the target markets that you previously identified for this product.
• Document and share your learning experience by posting a blog entry.
• Learn from your peers regarding how they would conduct market research for this product in the target market they have identified.

Value of this exercise

Effective and ongoing marketing research (including data analytics) is the underpinning of any successful marketing strategy. Today's organizations use a combination of quantitative and qualitative marketing research throughout the product life cycle - and seek to optimize business and marketing activities, while learning about customers' behaviour throughout the purchasing process (including post-purchase behaviour, referrals).