Discuss how existing, latent, and incipient demand differ

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Reference no: EM133410816

Questions

1. Discuss how existing, latent, and incipient demand differ. How might these differences affect the design of a marketing research project?

2. Explain how information technology puts powerful tools in the hands of global marketers.

3. Assume that you have been asked by the president of your organization to devise a systematic approach to scanning the market for trends related to your business; the president does not want to be surprised by major market or competitive developments. What would you recommend?

4. Outline the basic steps of the market research process. Results should be clearly stated and provide a basis for managerial action.

5. Describe some of the analytical techniques used by global marketers. When is it appropriate to use each technique?

6. Coach has been described as "a textbook lesson on how to revitalize a brand". The same could be said for Burberry, the British fashion-goods company discussed in Chapter 1. Locate some articles about Burberry and read about the research its management has conducted and the formula it used to polish the brand. Are the approaches evident at the Burberry and Coach similar? Are they competitors?

Case: Big Data Transforms the Music Business

Overview: Until recently, only a few low-tech metrics were available to help record companies track the popularity of artists and songs. In the new millennium, sales data tracked by Nielsen's Sound Scan unit are still published each week in Billboard's charts, including the Hot 100. Some data is gathered from point-of-sale barcode scans of individual albums. Today, a typical album may generate thousands of separate lines of sales data. Media analytics - including music as well as television, and movies - is now a multi-billion global business.

8. Do you think that the technology available today reflects how people have always related to music? Or has technology itself changed how people relate to music?

9. Some in the music industry think that this industry should be driven by the eyes, ears, and gut instinct of industry tastemakers rather than by math and algorithms. Do you agree?

10. How can big data help artists, artist managers, concert promoters, and record labels make better decisions?

Reference no: EM133410816

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