You have been approached by representatives of a downtown shopping mall. They have the following concerns:
Business (and revenue) at the shopping mall is declining.
Management believes that shops in the mall are losing business because of increased competition from suburban malls, but have no data to "support" their beliefs.
In 4-5 paragraphs,
Discuss how you would use marketing research to help the organization clarify and analyze its management problems.
What is exploratory research and how is it used? What exploratory research would you recommend to the client?
In what ways would your exploratory research help to clarify the research problems and objectives?© BrainMass Inc. brainmass.com June 3, 2020, 6:14 pm ad1c9bdddf
Marketing research can provide data about firm's market competitors, with the goal of improving marketing decisions. It can help the managers to determine their competitors by using planned and systematic gathering of market information. We also call this quantitative marketing research. This can be done by making customer surveys and identifying where potential customers go to purchase the goods or services offered by the mall, how frequently go there, why do they choose to go there and how do they compare the mall with other places.
Marketing research can also identify the impact of promotions on customers and learn the products and services that they desire. This can help them too keep their existing customers by ...
Here is just a sample of what you will find in the solution:
"The research may include informal discussions with consumers and formal approaches like in-depth interviews, focus groups, projective methods and..."