MKT assighment MKT

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Brigham Young University, Idaho *

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Marketing

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Feb 20, 2024

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Analyze Market Research Results Assignment Name : Cayden Hart You have been tasked with assessing the following independent marketing research survey results. Analyze the question and determine what the next steps for the companies should be. 1. A cell phone Company XYZ conducted an online survey that showed that 75 percent of customers put their number-one requirement for a new phone to be increased battery life. Only 22 percent of customers listed color choices as a large concern. Company XYZ currently offers 6 different color choices for its product and has a below-average battery life compared to competition. What should Company XYZ do with these survey results? The companies next steps should be to try to optimize their brands battery life, and then maybe look into some more colors for their product that people would enjoy. They need to look into what color of phones is the most liked by the people. They also need to figure out how to increase the battery life that is most optimal for every day use. 2. Company ABC recently conducted a survey that showed that 30 percent of customers will only shop there once and never use the company’s products again. What are some general ideas that can help increase customer loyalty? I would say just wait a little bit longer to gauge customer data. Once you have enough data on your customers, try to get to know them better and then play to your own strengths. Also try to engage with the customers and really dig into how they live their lives, and what they like. 3. Company #alltheshoes would like to find out what, if anything, customers know about its new running shoe, FancyShoe. Design two survey questions to find out the following:

1) Are customers aware of the product? 2) What brand image do customers have of the product? 1. How familiar are you with FancyShoe? 2. How would you rate the quality of FancyShoe? 3. Would you refer our product to people you know?

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