Purchase Solution

Market Segmentation, Forecasting, and Market Potential

Not what you're looking for?

Ask Custom Question

Sort answer form: for 1-3
1.What is the problem in asking subjects how many cups of coffee have you consumed in the past 30 days?
2.What subjects would be the most likely to provide and a description?
3.How could this question be modified to provide more accurate data?

For each of the following, discuss the benefits CoffeeTime managers would find in helping them to obtain value in problem identification research. Discuss whether these data are secondary or primary and justify answers.

a. Forecasting and business trend research
b. Market share and market potential
c. Segmentation and marketing mix research
d. Image and market characteristic research

Finally, what additional strategy (or variation on a given strategy) would be recommended to the key decision maker to solve the challenge above in the short description...thank you gari neal

Purchase this Solution
Solution Summary

This posting will look at the principles behind forecasting demand, understanding market share and marketing mix.

Solution Preview

What is the problem in asking subjects how many cups of coffee have you consumed in the past 30 days?

People probably would never be able to remember back 30 days - in fact, they probably could not even remember back 10 days.

What subjects would be the most likely to provide and a description?

I assume you mean what subjects would be able to provide a more complete answer? well, it would have to be people who drink coffee 1 per day every day - or twice, or never... Because then they can say "I drink 1 coffee every singe day" which would mean 30 coffees in 30 days.

How could this question be modified to provide more accurate data?
The best thing to do would be shorten the time frame to say 1 week or 10 days, and then ask ...

Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

View More Free Quizzes
Related BrainMass Solutions

  • Primary and Secondary Research

    Forecasting and business trend research 2. Market share and market potential 3. Segmentation and marketing mix research 4. Image and market characteristic research 1.

  • Forecasting and Market Analysis

    Discuss whether these data are secondary or primary and justify your answers. 1) Forecasting and business trend research 2) Market share and market potential 3) Segmentation and marketing mix research 4) Image and market characteristic research

  • Measuring market demand for an executive summary of a product

    There are also other important research areas including forecasting and business trend research; evaluating market share and market potential; segmentation and marketing mix research and imaging market characteristic research.

  • Segmentation Strategies to Target Potential Consumers

    and target potential consumers for the chosen product.

  • Coffee Time: Managing Research Design

    For the following 2 items: Forecasting and Market potential, discuss the benefits Coffee Time would find in helping them to obtain valuable information in problem identification.

  • CoffeeTime in India - Information Gathering

    Discuss whether these data are secondary or primary and justify your answers. 1) Forecasting and business trend research 2) Market share and market potential 3) Segmentation and marketing mix research 4) Image and market characteristic research

  • Market Segmentation and the Marketing Concept

    When I think about market segmentation I think about organizations that analyze current trends and the organizations that strive to integrate an innovative product with the potential of becoming a household brand that every consumer must have.

  • Relationship between market segmentation and buyer behavior

    81446 Relationship between market segmentation and buyer behavior What is the relationship between market segmentation and buyer behavior? Segmentation involves classifying the market on various parameters such as flavor, age, region etc.

  • Self Competition's Effect on Branding & Marketing

    Market Segmentation. Retrieved from http://www.netmba.com/marketing/market/segmentation/ This solution discusses the impact self-competition has on branding and marketing. Examples and APA references are included.

View More Related Solutions