Showing posts with label Chapter 4. Show all posts
Showing posts with label Chapter 4. Show all posts

Tuesday, February 10, 2009

Chapter 4 - Ethnographic Study


In chapter 5, Professor Featherman describes the various strategies used in market research in order to gain a more accurate assumption of why their product appeals to its target market and if not, what is inhibbiting the acceptance of their product amonst the target market. One research method discussed by Featherman is the process of ethnographic studies, where market researchers observe of people in their own homes or communities, and how they use the product or product category in question. Since ethnographic study tactics emphasize strict observation, consumers do not feel the pressure of telling a market researcher simply what they want to hear and not their true feelings. One example of an ethnographic study could be the observation of a new brand of beer in a local bar. Market researchers can determine how popular the beer is becoming amongst the community and possibly overhear crucial reactions to the product itself, its packaging, etc. However, in this example it should be noted that market researchers should not give into the temptation of consuming alcohol while researching in order to gain useful information and not end up being an empty-handed hungover employee the next day.

Wednesday, January 28, 2009

Chapter 4 - Focus Group


Market research is the primary topic of chapter 4. Market research refers to the general process of collecting, analyzing, and interpreting information about customers, competitors, and the business environment in order to improve marketing effectiveness. One market research tactic involves the use of focus groups. After a marketing team has narrowed down the public to the target market for their product/service, some researchers choose to take their actions a step further using focus groups. A Focus group is a group of similar consumers in the same target market that is paid to meet and discuss a vendor's product or service. The discussion is centered around the 4P's and consumer perceptions, evaluations and opinions of a product or service. Focus groups are an important part of market research in a sense that they provide first-hand reactions and opinions toward a product or service and, afterward, marketing teams can edit/reevaluate their product or service so that it is specifically tailored to their target market and their assumed reactions.