1. Assuming BMW wanted to learn more about what customers value in their luxury driving experience and...
Question:
1. Assuming BMW wanted to learn more about what customers value in their luxury driving experience and then make decisions from that research, what kind(s) of market research would you recommend that may improve their understanding?
2. BMW is facing the classic quality-quantity-cost tradeoff; the higher information quality they seek (represented by more questions), the fewer responses they get or the higher their research costs. Since BMW’s executives each have 25-to-30 years’ experience in the automotive market, what would be the advantages and disadvantages of trusting their own experience vs. spending more on market research?
3. Often when problems develop like BMW is experiencing in their research data gathering, a new (often technological) solution is developed to address the problem. What might be some innovative ways to approach gaining both statistical significance (through higher response rate) and deeper context (through open-ended qualitative data)?
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