PLEASE WRITE IN ESSAY FORMAT – NOT BULLET POINTS
The marketing research process is essential in determining how a product should be marketed. The primary purpose of this research is to reduce the level of risk of a marketing decision. Knowing that the majority of new products fail, how would you assess the following:
During a casual meeting with your supervisor, Mr. Johnson, he asks you how competitive intelligence and analysis can help market the company’s new beverage. After discussing it for a while, he requests that you submit a report to your marketing team explaining the marketing research process and how competitive intelligence and analysis are incorporated into it.
For this assignment, you must make a report of 3–4 pages (body) in which you explain the marketing research process and how competitive intelligence and analysis are incorporated into it. Answer the following questions in your report:
- What is the marketing research process?
- What is competitive intelligence and analysis?
- Where would competitive intelligence and analysis fit into the marketing research process?
- Are there any ethical concerns regarding competitive intelligence and analysis?
- How would you incorporate competitive intelligence and analysis into BevCo’s new beverage?
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