Marketing Research: Swift and Snug Furniture

What are the advantages of secondary data?

Accessible Low cost or free

Let's move on. Now that we've defined the problem, what is the next step in the market research process?

Analyzing the situation and developing a research plan

Now that we have our data analysis completed, what next?

Create a formal, written report that includes supporting elements such as charts and graphs, to present to Lisa and any other key decision makers.

What type of statistics will we be using with our data analysis from the survey?

Descriptive Statistics

I want to start booking days and times for them. How many customers do we want in each time slot? We probably don't want them all coming in as one group, if we want to hear their feedback.

Exactly. We want to keep the group small, 8-12 at a time would be best

How has the market research project been going so far?

Great. We have received enough feedback for us to move on to data analysis.

What option would you recommend for us to take, based on the survey feedback, time to implement, and cost? (Refer to the Option and Costs chart and Survey Results in Materials to make an informed decision).

Option 1: Create an online program that allows customers to upload a photo of their space and click and drag furniture onto that photo. This option will allow the customers to visualize the furniture in their space before making the purchase.

What are the advantages of starting a new focus group?

Uncovers details concerning the motivations behind behaviors Not limited to a predetermined set of responses Can be used to generate marketing ideas can be a good way to start research into a marketing problem

Why do we need to send out a survey, too?

We need to conduct a survey so that we can draw a more generalized conclusion from a larger consumer population

Do you think using a mix of both exploratory and descriptive research types would be the best option here?

Yeah, I think that would be a good idea

Now, I'm seeing that our problem is that our customers are having issues with furniture ordered online not meeting their expectations. Either it doesn't fit the space, or it doesn't look the way they thought it would in their home.

Yes, solve those problems

You explain to Dara that you want to assign the phrases that are about customizable ideas to a selected portion of the data, so you can sort and summarize it. What is this process called?

coding

We can perform both methods, but what should we do first to get the deepest understanding of what motivates consumers?

conduct a focus group

How must you state the questions to allow for open interactions between the participants that will generate opinions and insights towards the marketing questions?

create open-ended questions

Product/service enhancement, such as is being discussed here, should be based on _______________________, not just the whims of the marketing department.

customer needs and wants

The first step of market research is to determine the problem. What is the "problem" that you will need to focus on with your market research?

customers want more customization options from swift and snug furniture

You also want to make sure that questions on the survey are both ___________ and __________.

measurable specific

What types of questions should be used in the survey to make them easy to gather the feedback from a large number of participants?

multiple-choice questions

sending out a survey is considered __________ research

quantitative

Since we don't have a research team, the only data we currently have is from web traffic data, purchase records, and online customer reviews. What type of data is this?

secondary data

For the survey, I will just put all of our customers that have opted into receiving our email communication into a spreadsheet and let our system randomly select who should receive the survey. What is this sampling process called?

simple random sampling