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Marketing Research

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You were asked to observe a recent sales meeting between Dawn, (a production manager at your company) and a sales representative from ¡§Widgets R Us¡¨. Widgets R Us recently sold your company a major piece of production equipment and now wants to see your company add on options and services for that same piece of equipment.

The salesperson has come prepared and shows you and Dawn a flashy video showing the advantages of adding the additional items and services. Dawn is impressed by the assertions made in the video, particularly those relating to additional cost savings, but is concerned about the additional price of the options and services. The salesperson approaches the topic of ¡§cost¡¨ with great skill explaining that ¡§While the initial investment may seem rather steep, I think you¡¦ll find over the life of the equipment that it averages out to about $.75 a day. I think you¡¦ll find that¡¦s less than the cost of a can of soda a day. Isn¡¦t the potential for greater efficiencies and possible cost savings worth the cost of a daily can of soda?¡¨

Dawn, upon hearing this, admits that this sounds reasonable and agrees to purchase the additional options and service.

As the observer your objective is to prepare a research paper addressing the decision making in this situation. Your paper should address and discuss the following:

-Identify how Dawn "framed" her decision. You may want to outline or flowchart her thought process (a way of identifying her decision frame).
-What factors would have led Dawn to come to a different decision (in other words an alternative ¡§frame¡¨)
-What do you believe are the implications of "framing" on our judgments and on our attempts to influence others? Are there moral considerations? Why or why not?

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Solution Preview

The response addresses the queries posted in 1132 words with references.

//This discussion paper is based on the marketing research of a particular situation. The introduction part of the paper includes a detailed analysis of the meeting held between the production manager and the sales representative of the Company. This part also describes the variables important for the Market Research.//

Marketing Research

Introduction

In this paper of research essay, the observation of a sales meeting, which was held between Dawn a production manager of a company and sales representative of Widgets R Us, is described. It deals with the decision framework of production manager on the matter of adding the additional items and services in the portfolio of business. It is concerned with finding out different factors responsible for decision framing and their implications in order to influence others. This describes different variables, which have important place in marketing research such as initial investment, cost structure and cost saving.

//In the next section of the discussion, we are elucidating the process of decision making related to the problems held in the meeting of the two persons, discussed above. The decision process is described with the help of various aspects like objectives, alternatives, evaluation of the alternatives, and selection of best alternative.//

Process of decision framing

To consider cost structure of adding a new item or service in the portfolio of business is a key issue and it should be taken seriously by the concerned person. Dawn is the production manager of the company so it is her duty to consider all the aspects before taking any decision with regard to the additional items and services. In the starting stage of presentation given by the sales representative, Dawn interpreted that it would cost high to add extra items and ...

Solution Summary

This response addresses the queries posed in 972 Words, APA References.

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