The Product Marketing Research Plan

MT450-2:Develop a marketing research plan for a product.

Scenario:After your first couple of months as a product line manager with this new successful startup, ASG, you are called into the conference room. The marketing director announces that she has a product idea you need to research.

Checklist: (Steps 1 and 2 of marketing research planning)

• Define the problem and research objectives you want answered in line with the company's mission and objectives.
• Determine how to go about getting answers to those research questions in the most time- and cost-efficient way while getting viable and significant data (i.e., determine the means of obtaining the data).
• Explain what type of data you will you need, primary or secondary.
• Explain what type of research you will pursue. Will you use quantitative or qualitative data? Explain why.
• Describe the sampling plan:

A) Who will you survey?

B) Sample Size: Knowing that all the people you intend to survey may not respond or may respond with an incomplete survey, how many people will you survey?

C) Sampling procedure: How will you go about finding your sample population? What will be a statistically significant measure?

D) How will you contact the subjects? Will you email them, phone them, etc.?

• Determine how to ensure the data is significant enough to make a decision as to whether or not the product development engineers should proceed with product development.