Analyze Market Research Results Assignment Name : Jared Whipple You have been tasked with assessing the following independent marketing research survey results. Analyze the question and determine what the next steps for the companies should be. 1. A cell phone Company XYZ conducted an online survey that showed that 75 percent of customers put their number-one requirement for a new phone to be increased battery life. Only 22 percent of customers listed color choices as a large concern. Company XYZ currently offers 6 different color choices for its product and has a below-average battery life compared to competition. What should Company XYZ do with these survey results? Analyzing the market research survey indicates that one of the major drivers in the survey results was increased battery life. With 75% of the customers putting this as their number one requirement, I advise company XYZ to put their focus on that area. This is because their current battery is below average compared to the market. By doing this, they will be able to increase their market share. I advise them not to put any more or a limited amount into their colors as they already have six, and the market only drives 22% of the survey to have this as a significant concern. 2. Company ABC recently conducted a survey that showed that 30 percent of customers would only shop there once and never use the company's products again. What are some specific ideas that can help increase customer loyalty? Please reference the potential use of market research in your answers. This is a primary concern as their customer attrition is very high. Increasing customer loyalty should be the number one thing they are focusing on for the future. You have already got them to buy once, and reoccurring sales will continue to drive your business. I advise them to survey why they have such low customer attrition. Maybe it would be one of the 4 P's they can leverage. They could not have a strong promotion and need to ramp up their social media promotions, or maybe their price point is off, and they are losing out to the competition. By doing the survey, they will understand the why behind the how.
3. Company #alltheshoes would like to find out what, if anything, customers know about its new running shoe, FancyShoe. Design two survey questions to find out the following: 1) Are customers aware of the product? 2) What brand image do customers have of the product? a. Have you seen or heard of #alltheshoes new Fancy shoe? i. I have not noticed. ii. Social Media ad iii. Email ad iv. Television ad v. Social media influencer vi. Friends or family vii. Other b. What is your experience with FancyShoes, and would you purchase them again i. No, I have yet to purchase; Not looking to purchase a pair ii. No, I have not purchased it; I am looking to get a pair iii. I Have purchased them; Love them and looking for another pair iv. Have purchased; Dislike them and not looking to purchase again v. Other
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