Reference no: EM133031845

1. What is the main difference between primary data and secondary data? Provide one example of primary data and one example of secondary data.

2. What are the three most widely used methods to gather data? What are the differences between them?

3. Colorful Ice Snowballs wants to evaluate their sales based upon the performance of different flavors over the past few years. Use the chart below to answer the question.

What management technique should Colorful Ice Snowballs use to solidify their product mix and meet consumer's demands? (2 points)

4. Define the product life cycle. Explain how each stage can affect sales in business. (1 point)

Analyze (10 points)Analyze marketing research within graphs and tables and assess different factors that marketers use to position products and businesses.

1. Maria would like to start a company that sells bar soap. Before starting her company, she would like to conduct a survey on the demand of bar soap versus shower gel and body scrub.
Take a look Maria's survey below

a) Why isn't Maria's survey a good example of how a survey should be done?

b) How can the survey help Maria brand her bar soap? Give an example of how packaging and labeling can strengthen her brand.

2. Consider this scenario. Suzanne designs custom dresses. She has recently decided to open a boutique and recreate some of her most popular designs. Suzanne has her storefront and her business license but her dresses don't have any tags. What legal consideration is she not in accordance with?

3. Consider this scenario. Julie, a young woman, is preparing to start her own food truck business. She would like to serve common American fare including hamburgers, fries, and milkshakes. She has already purchased the truck, acquired a license to serve food, and created her menu. The only thing left for her to do is figure out where she is going to station her food truck during the lunch hour.

a) How can target marketing help Julie make a decision? Please provide an example.

b) Take a look at the pie graph below. Based on the information in the graph, who is her target market?

Synthesize (25 points)Develop and interpret tables and charts to collect data and develop an effective marketing plan.

1. You have two friends who have just come to you with an idea to start a perfume line. They want to know which types of perfume are in high demand. They also want to know who their target market is. How can you help them create best-selling perfume and achieve high sales?

a) Formulate an investigable question that will give your friends the information they need to start their business.

b) How would you go about finding this information?

c) Now that you've gathered data, the next step is to organize it so that it is available for later use. Create a table showcasing the data that you've collected.

d) Create a graph showing your research findings. This graph should pull together all the data you've collected and indicate an answer to your initial question.

e) Based on your research, what would you recommend for your friends' business? What should their marketing objective be?

2. Consider Carla, a new business owner. She has a great product and a good vision, but limited funds. She hears about a new investment company, Gooday Investments. They specialize in investing in small businesses. She immediately decides to send them her marketing plan.

Below is the proposal letter.

a) Why isn't this marketing plan effective?

b) Create a marketing plan for Carla's Chocolates using the elements of an effective plan.