Presentation Mode
● Prepare and deliver a 15-slide, 20-minute presentation on a marketing research project.
● Developing a marketing research presentation requires clarifying the client's situation, defining research objectives, specifying variables and detailed research questions.
Suggested Structure:
Business Goals: A broad, high-level statement that provides overall direction for the company. Goals tend to be more abstract and long-term.
Business Objectives: Specific, measurable, time-bound steps that move the company towards its goals. Objectives are more concrete and action-oriented. Setting SMART objectives is considered a best practice to ensure clarity and effective execution.
- Specific: clearly defined with details about what needs to be achieved.
- Measurable: Success toward achieving the objective can be tracked and measured.
- Achievable: The objective is realistic and can be accomplished with the resources available.
- Relevant: The objective aligns with overall goals and strategies of the organisation.
- Time-bound: The objective has a specific deadline or timeline for completion.
→ Goals provide vision and direction. Objectives are the tactical steps to accomplish the goals.
Management Decision Project is focused on strategic decisions enabled by the research, while the Research Objectives are focused on delivering the required research insights.
- Unit of analysis refers to the specific entity or element that is the subject of study or investigation in a research project. Common units of analysis in research include individuals (e.g., people, consumers, patients), organisations (e.g., companies, schools, hospitals), groups (e.g., teams, focus groups), events (e.g., a specific incident or occurrence), or even geographical regions.
- Research variables are characteristics, attributes, or factors that can be measured, observed, or manipulated in a research study.
- The client's company profile (briefly recap on year of establishment and history, vision & mission, the brand’s product and its unique selling points - USPs)
- Their business goals and objectives
Example:
● Business Goals: To become the market leader in our industry, to grow revenue by 20% annually.
● Business Objectives: To increase market share by 5% in the next fiscal year, reduce customer acquisition costs by 10% in the next 6 months.
This objective demonstrates the SMART criteria because:
Specific - It clearly states what needs to be accomplished (increase market share, reduce customer acquisition costs).
Measurable - The targets are quantifiable (5% increase in market share, 10% decrease in acquisition costs).
Achievable - The targets seem realistic given typical growth rates and cost reduction opportunities.
Relevant - Market share and acquisition costs are relevant to the company's success.
Time-bound - It sets clear deadlines (next fiscal year for market share, next 6 months for costs).
Based on potential findings from the market research, as well as the objectives associated with those decisions, choose most suitable steps from the Marketing process that the brand needs to review:
- Step 1: Environmental Scanning & Analysis
- Step 2: Positioning (STDP - Segmentation, Targeting, Differentiation, Positioning)
- Step 3: Marketing Mix (4Ps - Place, Product, Price, Promotion)
- Step 4: Monitoring performance
To get good marks, the Management Decision Problem should:
- Explain why these decisions matter right now.
- Show how the objectives relate to the decisions.
- Demonstrate how the decisions align with the overall business situation.
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