Defining the opportunity to do any research and collect data, concerning the new line of dog food
Question:
Defining the opportunity to do any research and collect data, concerning the new line of dog food is the first important task of conducting market research. In marketing research, defining the opportunity you need to solve will determine what information you need and how you can get that information. This will help my organization clarify the overarching problem or opportunity, such as how to best address the loss of market share or how to launch a new product to a specific demographic. Developing questions that will allow me to define the opportunity and examine all potential causes so that the market research can be whittled down to the information that i need to determine what action to take regarding an opportunity.
The research plan can be overwhelming to create because it can include any method that will help the company explore an opportunity for pet owners requiring new dog food brands in the market. I will conduct a survey by using SurveyMonkey to gather more infomations about the quality of our organic dog food, interview prospects and customers about their opinions
I will conduct an A/B test on the company website to see if a new pricing tier would bring in more business. In that research study, I will also interview several customers about whether the new pricing tier would appeal to them or the ingredients are appealing to their dogs. This way, I will be receiving hard data and qualitative data that provide more color and perception.
what if you are a wholesale supplier of this dog food and don't have direct access to your end clients. Does that change your approach?
Expert Answer:
