Devise a market research program that would inform Starbucks of their customers’ preferences: • Market research technique
Conversation directed to a definite purpose other than satisfaction in the conversation itself. (Market Intelligence) The main advantage is that they normally achieve a high response rate and that the likely level of error being introduced into the research result is low. 2. Focus group discussion
A small group of people, considered to be representative of the target segment, invited to openly discuss products or issues at their leisure time in a relaxed environment. (Market Intelligence) This method is useful in providing a qualitative data. It is inexpensive to conduct, it can be done quickly, and it can provide useful, timely, qualitative data. It usually consists with 8 to 10 respondents and the interviewer taking the role of group moderator. 3. Projective techniques
The objective of projective test is to delve below the surface responses in order to obtain true feelings, meaning, or motivations. (Market Intelligence) 4. Observation
It involves the personal and mechanical monitoring activities. It records actions as they occur and thus there is no lack of accuracy caused by a respondent’s faulty recollection of their past actions or inadequate estimate of future ones. (Market Intelligence) 5. Telephone research
Telephone research is relatively fast and low cost of gathering data. It is most useful when only a small amount of information is required. The advantages of this method are a wide geographical range, efficient, high response rate, modification question is possible. The disadvantages are a biased result, higher refusal rate, short interview, and no visual aids. (Market Intelligence) 6. Interview survey
The survey approach involves asking question of the target market or population. To obtain data, it is usually necessary to obtain a sample to...