Market Reaction and Facilitation of Shopping
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DQ 1
Explain how you might use different types of research (focus groups, survey and experiment) to forecast market reaction to a new kind of disposable baby diaper, which is to receive no promotion other than what the retailer will give it. Further, assume that the new diaper's name will not be associated with other known products. The product will be offered at competitive prices.
DQ 2
Explain how do brand names facilitate shopping? Use examples to illustrate your answer.
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Solution Summary
This solution gives advice on what type of research to use to forecast market reaction to a disposable baby diaper, focusing on a two-fold methodology. It also discusses the influence of a brand name on consumers to facilitate shopping with real-life examples.
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In the first case, we see that there will be no promotions done by the company (i.e commercials, prints ads), and the only promotions will be in store items done by the grocery store/drug store...
The goal is to forecast market reaction, which is to try to see how people will be reacting to the products.
Since no wide scale promotion is done, it is imperative to try to get as many people involved with this forecasting to be able to make the most sound decisions.
I would use a two-fold methodology.
I would begin by conducting broad survey questions, emailed out to thousands of parents. Here you can ask broad questions regarding the usability of the product, the durability, baby's comfort, leakage... this is an opportunity to explore many different scenarios in a ...
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