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The purpose of this assignment is to compare key types of marketing information including internal data,
competitive intelligence, and marketing research and how they influence the marketing strategy, explain the
role of marketing research in helping organizations understand and reach customers, and discuss why
marketing metrics can provide necessary information to marketers. Once you complete this assignment you
will complete MLOs 4.4, 5.5, and 9.2.
Instructions
In this exercise, read through the situational overview below. Using the information presented in Module 4,
answer the following questions. Your answers should use a 12 point font, be double spaced, and use APA
formatting to cite references on the last page of your assignment (if you use any external sources). It should be
submitted as a Word or PDF document.
Situational Overview
The following case study summarizes the results of research for a potential new product – lavender flavored ice
cream. An outside research firm conducted a randomized taste test to learn more about what consumers
thought. The goal was to learn whether consumers liked the product as is or if the formula of the product
needed to be changed prior to launch. Take some time to analyze the findings of the taste-test to help you
determine if you think the product is ready as it is currently produced. The firm conducted the test with 1,000
participants with both genders included and a variety of ages (between 7-55). The respondents tasted the
proposed lavender ice cream and an unbranded competitor ice-cream with a similar flavor profile.
Product A – proposed lavender ice cream
Product B – competitor ice cream
Survey Results
Question Results Scale
How much did you like Product A? 3.2 1-5
How much did you like Product B? 3.9 1-5
Did you prefer Product A? 40% Out of 100%
Did you prefer Product B? 60% Out of 100%
How would you rate the taste of Product A? 5.1 1-7
How would you rate the design of Product A? 2.9 1-7
How would you rate the boldness of Product A? 4.2 1-7
How would you rate the smell of Product A? 6.0 1-7
Would you buy Product A if it was available in the store? Yes = 25% Yes / No
How often would you buy Product A if it was available in the store? Every 2 weeks Daily, Weekly, Quarterly,
Annually
Answer the following questions:
Which of the two products did the participants prefer based on the indicators above?
What are the strongest positive preferences for Product A? What are the biggest negatives?
What are some other questions that should have been included in the research study? List three additional
questions.
What would you do if you had to make the decision to launch the product or to reformulate it? Why?
Explain why this type of research is important for marketers when they are launching new products in the
market.
name of the book if needed is Principles of Marketing (Waymaker Bundle)
Edition: Ivy Tech
Publisher: Lumen Learning
Sample Solution
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