Market Research Case Study



Market Research Case Study

Introduction

The consideration of new product idea, desiring to push up the sales, or considering for the new product, services launch, at this stage the importance of marketing research has increased unprecedentedly, as the world is going through the recovery of recession. The marketing Guru Philip Kotler has admitted that it is due to the marketing research, planning, implementation and control which has successful impact on marketing management.

This discussion will focused on the Market Research Case Study of “First Federal Bank of Bakersfield” in which bank want to offer services to women and for that they need to make research whether woman are interested in the banking practices as majority of the services were forbade.

The survey of financial seminars regarding banking parties for women was conducted through interviews on telephones.

Comparison of telephone interviews with personal interviews or mail questionnaires

The primary benefit of telephone interviewing is that number of dissimilar individuals could be attained in a comparatively short time period. This also offers accurate and random results due to the selection of samples are self-selective. This can be obtained and completed in few days with greater control of quality as complete and clear answers are obtained. As far as mail questionnaires are concern, the result survey might not be returned along with less self-selective and random people. There is also a risk of incomplete and inaccurate results. It also reduces the chances of follow-up and examining the responses. Personal interview are advised when specific target audience responses needed to gather. At this research, they are targeting woman and want to know the response of each kind of women. For this, it will be very expensive as sample size is 500 to 600 adult women with more time consumption as travel will be involved. Most ...