Purchase Solution

Market research approach

Not what you're looking for?

Ask Custom Question

Marketing approach to develop a strategy to create a new product:

I am creating a new product or service for an existing organization. The product is a minivan for BMW. I would like help with the marketing research approach I would use to develop the marketing strategy and tactics for this new product in 250 words or more. Please list references, if any.

Purchase this Solution
Solution Summary

This answer provides you an excellent discussion on market research approach.

Solution Preview

The following is the market research approach to the developing the marketing strategy and tactics for the new product.

The approach will include developing the design for the BMW minivan, developing a pricing policy for the vehicle, selecting the methods of distribution for the BMW minivan, and developing the communications plan for the proposed BMW minivan; Further, the study has to identify the competition, assess the strength of the competition, identifying the segments that have to be targeted, and the positioning of the BMW minivan.

The ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
Recent Feedback
  • "I read your comments, and thank you for this feedback. Do I need to find other studies that applied this methodology Ive used? That's where I'm stuck at."
  • "Thank you kindly sir. "
  • "Excellent and well explained. --Thank you kindly. "
  • "Awesome notes. I appreciate you."
  • "I have the follow-up project and I will assign that to you very soon. "
Purchase this Solution
Free BrainMass Quizzes
Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Introduction to Finance

This quiz test introductory finance topics.

Operations Management

This quiz tests a student's knowledge about Operations Management

Paradigms and Frameworks of Management Research

This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.

View More Free Quizzes
Related BrainMass Solutions

  • Accounting research methodology, types of risk, net operating loss

    Deductive approach c. Pragmatic approach d. Behavioral approach The type of risk that is related to the overall movements in the stock market and is unavoidable is called what? a. Unsystematic risk b. Inherent risk c. Market risk d.

  • Market Research for BIPAC

    This, while a valid approach to market research, limits the scope and depth of the research. In conclusion, there is clear sample bias in the study.

  • Marketing Research and Marketing Strategy

    Marketing research helps define the best approach to meet objectives related to communication, information and education. For example marketing research can help a company develop its communications strategy or advertising approach. 1.

  • Sales Force & Market Research

    3) What are the benefits of external versus internal market research? 1) How can an organization determine if its sales force is the right size? One approach is the profitability approach.

  • Approaches to New Product Design

    Under what circumstances might a market-pull approach or a technology-push approach to a new-product design be the best approach?

  • pitfalls of a company doing their own research

    A reasonable amount of weightage should be placed on the findings of the market research, depending on the quality of the data retrieved via the research and approach used by the company.

  • Marketing Plan for New Rubbermaid Raincoat

    This solution of 309 words proposes a marketing research approach to market a new rubbermaid raincoat product.

  • Pros/Cons of Market Research Firms

    Comparing the two companies, Wakefield Research offers a much more scientific, systematic approach to market research. The company has a page of professional standards on its website, from the American Association for Public Opinion Research.

  • An Analysis of Marketing Research

    and then goes on to explain a systemic approach which can be used to implement this type of research for a product oriented firm.

View More Related Solutions