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Predict market potential and other than forecasting sales, discuss other uses for forecasting methods.

You have just been named marketing manager of a major franchise. Your job will be to perform the daily tasks of a marketing manager.

Select one of the franchise companies below for which you would like to be Marketing Manager.

Edible Arrangements® – Edible fruit baskets – Creates fresh fruit arrangements and gourmet chocolate dipped fruit to order.

Cartridge World® – Cartridge Company – carries a complete line of both inkjet and toner printer cartridges. Offers both remanufactured and Original Brand (OEM) ink and toner cartridges for nearly all brands of printers, copiers, fax and postage machines.

Liberty Tax Service® – Taxes – provides tax service to both consumers and businesses.

Assumptions

The plan is to aggressively go after the consumer and business market creating dual revenue streams. Your marketing strategy, research marketing mix, and customer relationship marketing will be different for both groups.

In this scenario, you will be responsible for the following:

In addition you will be conducting the following tasks:

  • Illustrate the research process
  • Use secondary data sources
  • Develop a primary data plan
  • Predict market potential and forecasting

See Rubric below for Assignment details.

Assignment: The Market Research Plan

Scenario:

Your top franchisee owns several franchises in New York, NY. Over the last three years, sales and market share have declined 5% each year in the consumer segment and business segment. As the marketing manager for the franchise, you have decided to fly to New York and develop a market research plan to understand the problem.

Write a brief paragraph that answers the following questions. (This should not be in Question/Answer Format).

 Suppose that the franchisor was considering bringing a new kind of product or service to its stores. What kind of research would it need to do in order to have some confidence that the new product would sell well?

Then create a market research plan:

 Next, using the market research process in the diagram below, develop a market research plan that will provide a better understanding and solution to the problem.

Address each step in detail.

Reference

Winer, R. S. & Dhar, R. (2011). Marketing management (4th ed.). Upper Saddle River, NJ: Prentice Hall

[MT450: Marketing Management]

 Please make sure you include primary and secondary sources in your market research plan. See the diagram below.

Reference

Winer, R. S. & Dhar, R. (2011). Marketing management (4th ed.). Upper Saddle River, NJ: Prentice Hall

 Predict market potential and other than forecasting sales, discuss other uses for forecasting methods.

You will provide a 3–5 page (using APA format and citation style) market research plan paper with at least Five supporting references. You should include at least one illustration which can be included in the body of your paper or appendix.

Submit to the Unit 3 Assignment Dropbox. Unit 3 Assignment Grading Rubric 40
Possible Points
Specific Paper Objectives: Assignment Checklist (80%):
Illustrate the research process- Develop research plan using all 10 steps 8
Use secondary data resources 8
Develop a primary data plan 8
Predict market potential and forecasting 8

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