Analyze Market Research Bryce Campbell

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Feb 20, 2024

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Analyze Market Research Results Assignment Name : Bryce Campbell 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 easy answer is to not worry too much about the color choices but the efficiency of the battery life in the phone itself. Nothing is that easy, the first step I would take is to start collecting more data on their competitor’s battery life. There is a standard in this case across phone business they have to be comparing their own battery life too. Once you know what that standard is from either collecting data from their websites, customers who use them, or if you can talk to them yourselves about the battery life. Take that info and then gather your focus groups and ask them what an acceptable battery life should be for a phone. Once that data is gathered then you can make a decision off that what your battery life should be for consumers to be happy about your product. 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 specific ideas that can help increase customer loyalty? Please reference the potential use of market research in your answers. With Company ABC there are some things they need to consider such as their audience and what is the attitudes their customers have towards the products they are selling. I would consider doing some primary research online first with similar products that were successful that created loyal customers. Also, when they think they will never come back it’s because there isn’t a need there that you can fulfill. I would also research for similar competitors in the market and what their share of your market is and what their approach is and how you can possibly approach it differently to fit your audience. I would also give someone who shops at the store a coupon for their next purchase to try and incentivize a return visit as well.

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. Which of the following running shoe brands have you seen in retail stores or online? Yes No Nike Adidas FancyShoe Puma New Balance Asics UnderArmor 2. If you wanted to tell your friends about FancyShoes, how would you describe them in a few words or short phrase?

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