Data Collection Techniques and Marketing Mix
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Data Collection Techniques and Marketing Mix

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Questions and Answers

What is one of the main benefits of personal interviews in market research?

  • They are the least expensive data collection method.
  • They always yield higher response rates than surveys.
  • They can be conducted in larger groups than focus groups.
  • They allow for building relationships and follow-up questions. (correct)

    • Which technique is generally less expensive and time-consuming than face-to-face interviews?

  • Personal Interviews
  • Focus Group Discussions
  • Web-based Interviews
  • Telephone Interviews (correct)

    • What is a recommended consideration for focus group discussions?

  • Sessions should last between 90 to 120 minutes. (correct)
  • Groups should consist of 12 to 15 participants.
  • Participants should be limited to 5 per group.
  • They should occur in individual interviews.

    • Why is it important to organize collected data as soon as possible?

    <p>To avoid losing valuable information.</p> Signup and view all the answers

    What is a potential drawback of using internet-based surveys?

    <p>They may yield low response rates.</p> Signup and view all the answers

    What defines durable goods?

    <p>Goods that can be used for a long time.</p> Signup and view all the answers

    In a one-stage distribution channel, who is the intermediary?

    <p>Retailer</p> Signup and view all the answers

    Which of the following best describes intangible goods?

    <p>Services that offer consumer needs or satisfaction.</p> Signup and view all the answers

    What is a characteristic of a two-stage distribution channel?

    <p>It includes both a wholesaler and a retailer as intermediaries.</p> Signup and view all the answers

    How is 'place' significant in marketing?

    <p>It encompasses the locations where buyers and sellers exchange goods.</p> Signup and view all the answers

    What is primarily involved in the 'Product' aspect of the marketing mix?

    <p>The tangible good or service that is marketed</p> Signup and view all the answers

    Which of the following is a primary function of the marketing mix?

    <p>To understand and meet customer requirements</p> Signup and view all the answers

    Which of the following does NOT belong to the traditional '4Ps' of marketing?

    <p>People</p> Signup and view all the answers

    What are industrial goods primarily used for?

    <p>Business operations and production</p> Signup and view all the answers

    Which of the following is a benefit of understanding the marketing mix for a business?

    <p>Enhancing customer satisfaction and loyalty</p> Signup and view all the answers

    What factor significantly influences the price of a product?

    <p>Production cost</p> Signup and view all the answers

    Which pricing strategy sets low prices initially to gain market share?

    <p>Penetration Pricing</p> Signup and view all the answers

    How does competition pricing determine the price of a product?

    <p>According to competitors' prices</p> Signup and view all the answers

    What is an example of psychological pricing?

    <p>Charging $9.99 instead of $10.00</p> Signup and view all the answers

    Which of the following is NOT a type of pricing strategy mentioned?

    <p>Aggressive Pricing</p> Signup and view all the answers

    What is a key advantage of television advertising?

    <p>It creates a lasting impression through sound and visuals.</p> Signup and view all the answers

    Which promotional strategy involves customer testimonials?

    <p>Publicity</p> Signup and view all the answers

    What does functional packaging primarily focus on?

    <p>Providing consumer comfort and usability.</p> Signup and view all the answers

    What is the main purpose of sales promotion?

    <p>To encourage immediate product purchases through temporary incentives.</p> Signup and view all the answers

    Which of the following describes safe packaging?

    <p>It provides protection from leaks and is essential for children's safety.</p> Signup and view all the answers

    What does the process of positioning primarily focus on?

    <p>Defining how a brand is perceived relative to competitors</p> Signup and view all the answers

    Which of the following is NOT a component of the 4Ps that integrate into positioning?

    <p>Profit</p> Signup and view all the answers

    How should a company approach positioning in pricing?

    <p>Price based on product value relative to demand</p> Signup and view all the answers

    What role does sales location play in positioning?

    <p>It helps to establish brand identity with accessibility</p> Signup and view all the answers

    Which statement best fits into the positioning statement template?

    <p>For daytime workers that need quick meals, unlike casual diners that prefer sit-down service, our product is the fast option that will meet their busy schedule so they can eat on the go.</p> Signup and view all the answers

    Study Notes

    Data Collection Techniques

    • Surveys (Questionnaires): Common method for gathering primary research using questionnaires or interview schedules, delivered through various methods like mail, phone, internet, email, face-to-face, or web-based interviews.
    • Interviews:
      • Personal Interviews: Traditional method involving direct interaction between researcher and respondents. Builds relationships, clarifies answers, and allows for follow-up questions, potentially yielding high response rates in survey research.
      • Telephone Interviews: Less expensive and time-consuming than face-to-face interviews, but may have lower response rates.
    • Focus Group Discussions (FGD): Effective for generating and screening ideas, and understanding user needs & behaviors. Considerations include session length (90-120 minutes) and participant number (8-10 per group).

    The 7Ps of Marketing Mix

    • Product: Goods or services produced to meet consumer wants, tastes, and preferences. Consumers purchase for benefits and satisfaction.
      • Category of Product:
        • According to Use:
          • Consumer goods: Purchased for personal consumption (e.g., food, toiletries).
          • Industrial goods: Used in businesses.
    • Price: Amount of money paid by the consumer for a product or service.
      • Factors Affecting Price:
        • Cost: Production cost influences product price.
        • Price Objective: Manufacturers adjust prices based on market goals (e.g., discounting, rebates).
        • Legal or Regulatory Issues: Laws regulate highest and lowest prices.
      • Pricing Strategies:
        • Penetration Pricing: Artificially low prices to gain market share, then increased later.
        • Skimming Pricing: High initial prices, then lowered to reach a wider market. Not sustainable due to attracting competitors.
        • Competition Pricing: Prices based on competitors, not cost or demand. Three options: lower, same, or higher than competitors.
        • Bundle Pricing: Bundling products/services together at a lower overall price than individual sales.
        • Premium Pricing: Products priced higher than similar products to create a perception of greater value.
        • Psychological Pricing: Prices slightly lower than round numbers (e.g., $9.99 instead of $10.00) to create a perception of lower price.
        • Cost Plus Pricing: Adds a markup to the cost of goods and services to arrive at the final price.
    • Place (or Distribution): Where the buyer and seller exchange goods or services, encompassing both physical and online stores. Crucial for marketing efforts.
    • Promotion: Communication strategy to increase customer demand and loyalty.
      • Advertising: Paid promotion using various media (newspapers, social media, TV, radio).
      • Promotional Strategies:
        • Television: Fast-growing medium, combining sound and visuals for lasting impressions.
        • Print: Newspapers, magazines, and direct mailings, effective visual mediums.
        • Electronic: Online advertising (websites, emails), provides key information and personalized interactions.
        • Word-of-Mouth: Customer testimonials and recommendations are highly credible for brand building.
        • Publicity: Unpaid forms of communication (interviews, donations, training) enhance brand image.
        • Personal Selling: Direct, in-person promotion, effectively conveying product information and benefits.
        • Sales Promotion: Temporary incentives (gifts, samples, contests, pricing) to encourage purchases.
    • People: Manpower (factory workers, sales staff, customer service) is crucial for product success, promoting, delivering, and supporting products.
    • Packaging: The product's exterior presentation influencing purchasing decisions.
      • Unique Packaging: Distinctive design creating differentiation.
      • Functional Packaging: Provides consumer comfort and usability (squeezable pouches).
      • Safe Packaging: Protection from leaks, tampering, and injury, crucial for children's safety.
      • Easy to Remove: Packaging easily opened and removed without destroying the product.
      • Promotional Packaging: Designing packages for visual appeal, promotion, or special offers.
    • Positioning: Creating an image in the minds of a target market for a brand or product relative to competitors. Involves integrating the 4Ps.
      • Positioning in Advertising: Determine needs of target customers for appropriate advertisements.
      • Positioning in Price: How the product's price matches competitor demand.
      • Positioning in Sales Location: Reaching consumers by choosing the appropriate distribution channel. Place the product accessibly to establish identity with the target market.

    Distribution Channels

    • Zero Stage: Direct transaction between producer and consumer without intermediaries.
    • One Stage: One intermediary (retailer) present between producer and consumer.
    • Two Stage: Two intermediaries (wholesaler and retailer) present.
    • Classification of Goods:
      • According to Durability:
        • Durable goods: Long lifespan (appliances, vehicles).
        • Non-durable goods: Consumed frequently and have a short lifespan (food items).
      • According to Tangibility:
        • Tangible goods: Products that can be seen or touched (food, clothing).
        • Intangible goods: Services and activities providing consumer needs or satisfaction (government services, bank services).

    Positioning Statement Template

    For                 that need
__________________  _________________
Unlike              that
__________________  _________________  our product
For                 is the
__________________  _________________  that will
__________________  so they can

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    Description

    Explore the various techniques for data collection, including surveys, interviews, and focus group discussions. Additionally, understand the 7Ps of the marketing mix to better meet consumer needs. This quiz covers essential concepts in research and marketing strategies.

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