Scenario: You and your partners are looking to open up a new coffee shop in Hattiesburg, MS targeting mainly college students. However, you are concerned whether there is a demand for another coffee shop in the area, and what new offerings could you and your partners provide against the local competitors. You have decided that the first step in introducing a new product and service is marketing research.
The Challenge: You will need to develop your ideas for marketing research by responding to the following questions:
- What primary and secondary information would you seek ? Why?
- Who would be your research subjects? Why? How would you find them?
- What research methods would you use (e.g., surveys and focus groups)? Why?
- What are the advantages AND disadvantages of your approach?
- What are the potential value and limitations of marketing research in general?
- Does product category affect the marketing research process? If so, how?
Tasks to Complete: In a minimum of 250 words:
- Answer the required questions above using concepts from your textbook with APA within citations and formatting as supporting evidence.
