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Market Research Equivalence Research Paper

Congratulations! You were just promoted to marketing manager for a specific product line ( Ikea ). This is doubly exciting because this is an overseas assignment, and you will soon be moving to the country you have selected for your final paper because this is your assignment. Previously, you were a marketing research specialist for this product line in the U.S. In order to impress your new boss, you decide to take on the ambitious goal of increasing sales (of this product line in this country) by 50% over the next two years. Good luck!

Your first step is to do market research to identify what changes in the marketing mix are needed to increase sales. Since you have done a lot of market research in the U.S., you hope to be able to compare new studies (in Jordan) with the U.S. studies. However, you understand that it may be difficult to establish "equivalence" between research results in the two countries.

submit a 3-5 page paper, not counting the title page and references, State which brand you will be addressing, identify the country, state your market research questions (what changes you think may be necessary to increase sales of this product by 50%), and the specific market research techniques you plan to use. Describe what modifications you will make relative to conducting this type of research in the U.S. and provide an explanation for these differences.
Be sure to discuss at least three of the market research equivalence .

In preparing this assignment, find at least three articles about the challenges and characteristics of doing market research in this country (or in the region if you cannot find articles specific to your country). In addition, look at the Web sites of several market research organizations in the country or region and the Web sites of your product and its major competitors.

All written assignments and responses should follow APA rules for attributing sources.

Solution Preview

Ikea, the home furnishings and furniture retailer, is expanding into Jordan. To understand the

markets and demand for Ikea products, it is necessary to research various market segments, buyer

behavior, and lifestyle/cultural background of consumers in Jordan. No single research method is

suitable, to gain a thorough understanding of the potential new market. In addition, the firm seeks

to increase sales by 50%. This means the marketing strategy should be aimed at the right market

segments, at the right time, promoting the right products to Jordanian consumers. Many of the

products Ikea offers have a more contemporary style, though some retain a touch of classic design.

Knowing the styles preferred by various market segments will help Ikea global marketing teams direct

strategies to reach each segment effectively.

The overall marketing research activities in Jordan will involve consumer demand survey,

point of sale data collection from retailers, and collection of demographic data for further segmentation.

Consumer survey can be approached in several ways. Consumers can be asked to describe level of

usage for various product categories. They can also be asked for reactions to photos or catalog pages

of various products. Measuring using and consumer habits is necessary, to fully understand market

segments. Knowing what to expect from each segment allows the company to develop effective

strategies for marketing and promotion certain products. It also contributes to development of

marketing strategy, in terms of the appropriate marketing message for each segment (Qualtrics, 2014).

While the marketing message should be uniform for all segments and all distribution channels, it

should speak personally to the consumer in a way the specific consumer segment understands.

Knowing the particular market segment allows the marketing team to select the right distribution

channels to promote products and support the marketing message.

Consumer ...

Solution Summary

The market research plan discussions three forms of market research that will allow the organization to gain insight into the foreign market it wishes to expand into.