Forecasting and business trend research

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Reference no: EM1378402

A) CoffeeTime is interested in coffee drinking habits of people in India. To obtain this data, we are required to ask subjects: How many cups of coffee have you consumed in the past thirty days? How could this question be modified to provide more accurate data?

B) For each of the following, discuss the benefits CoffeeTime managers would find in helping them to obtain valuable information in problem identification research. Discuss whether these data are secondary or primary and justify your answers.
1) Forecasting and business trend research
2) Market share and market potential
3) Segmentation and marketing mix research
4) Image and market characteristic research

Finally, what additional strategy (or variation on a given strategy) would you recommend to the key decision maker in the simulation to solve the challenge given? Prepare a 350-word memo to the key decision maker advocating your recommendation

Reference no: EM1378402

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