Marketing+Research+Exercise+MKTG+3312

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Texas State University *

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MISC

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Marketing

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Jan 9, 2024

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MKTG3312 – Marketing Research Exercise Note: DO NOT REMOVE THE QUESTIONS – insert your screen grabs and explanation under each question as your answers. Removing questions will result in a grade of 0. You have a friend who is strongly considering opening up her own nail salon and asks you to put together some quick-and-dirty market research to guide her and help her understand the market better. She has a few questions she’d like to answer and you’re going to use Google Trends to do it ( https://trends.google.com / ). Use screen grabs (Snipping Tool in Windows or Command +Shift+4 in Mac) and provide a brief explanation of your reasoning to answer each question (in order to see trends, you should be looking at a 5-year minimum trend line). For typical trends, focus on non-COVID time periods (2019/2018/2017). You can also look at each year individually to see if there are any seasonality trends (i.e., any trends that only occur during specific dates/occasions). Note: Your screengrabs should show the Search Term or Search Comparison (Questions 3 and 5) as well as the graph . See Canvas for more details. To received points for this assignment, you should include (1) screengrabs showing each search term and (2) your explanation/interpretation of the trends being shown in the graph. Simply inserting screen grabs with vague explanations (e.g., the graph shows some unstable trends) will result in a grade of 0. 1. In general, is this an industry in decline, stable, or increasing in popularity? Search for at least 3 keywords related to nail salon (e.g., nail salon, nail design, manicure) 2. Are there any cyclical trends to be aware of, e.g., seasonality, and what might that mean for staffing or expected revenues? Search for at least 3 keywords related to nail salon (e.g., nail salon, nail design, manicure). Hint: look at the trends for the years pre-COVID (2019/2018/2017) and see if there are certain spikes of search interest during certain dates/occasions. 3. If the salon specifically offers manicures and pedicures, are there any differences between these in terms of demand trends? 4. There are a bunch of different types of specialty manicures that could be offered, but assuming you can only offer 3 of them, which ones make the most sense? The list of options includes:  French manicure  Reverse French manicure  Paraffin manicure  American manicure  Gel manicure  Mirror manicure  Acrylic manicure Insert a screen grab of each search term in Google Trends for each type of manicure with a brief description for each graph. Provide an explanation for which 3 types you would recommend your friend to offer. DO NOT PUT ALL SEARCH TERMS IN ONE GRAPH. 5. Your friend is considering calling her place a “nail bar” instead of a “nail salon.” Any problem with this in terms of demand?

Grading Rubric Research (5 pts) Utilize Google Trends effectively. Use various keywords search and make sure to look at key trends within the last 5 years. Analysis Content (5 pts) Analysis shows thoughtful interpretation of Google Trend graphs (beyond just describing a graph as going up and down) and present screen grabs (NO SCREEN SHOTS) to support analysis. Student provided detailed explanation and interpretation for the graphs, including seasonality/current trends into their interpretation of the graphs. Analysis is well-written with no typos/grammatical errors. Assignments with multiple typos/grammar errors will get 3 points deducted from the assignment.

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Marketing+Research+Exercise+MKTG+3312

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