1.mini Marketing Research 2023
1.mini Marketing Research 2023
The following activity will cover the performance task for the content:
MARKET OPPORTUNITY ANALYSIS AND CONSUMER ANALYSIS in which the learners shall be able to
conduct marketing research, interpret market buying behavior on product or service, and identify the
product or service target market.
Purpose : The purpose of this mini-project is to become familiar with techniques used in marketing
research and to learn to apply these techniques to marketing decision-making. There are many
techniques that can be used.
Overview : For this mini-project your group should assume you are attempting to develop and
market a new brand of a consumer product (not a service) for a real business. For the
Research Mini-project, you will plan and conduct research which will provide the information
needed for the development of the new product or service.
Specifics:
1) Decide on a Product Category for the project
2) Develop initial ideas for possible characteristics of new product and/or brand.
3) Make a preliminary list of these characteristics.
4) Identify your planned target audience for the product
5) Make of list of additional information you need from your planned target audience – information which
will help you crystallize your product idea and determine whether it can be commercial success or not.
6) Develop a research and sampling plan, and a structured survey questionnaire for collecting this
information
7) Administer the questionnaire to at least 50 members of your target audience.
8) Enter the data in EXCEL or SPSS for analysis. Or you can use Google Forms.
9) Analyze the data using descriptive statistics (means, frequencies, percentages, etc.), tables, charts,
and graphs wherever appropriate.
10) Form your conclusions about the finalized product, its marketability and target audience.
Approved by:
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Member 2: Member 2:
Member 4: Member 4:
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Member 6: Member 6:
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Member 2: Member 2:
Member 4: Member 4:
Member 5: Member 5:
Member 6: Member 6:
Member 7: Member 7:
For 1-4 points allocated, please state your reason at the back For 1-4 points allocated, please state your reason at the back