Marketing

Purpose

To assess your ability to:

• Develop a research plan to identify consumer perceptions and needs across competing offerings of a product.

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Overview

Recall from last week’s reading that satisfying your customers involves managing their expectations. Customers who are satisfied, whose expectations have been exceeded are likely to develop a degree of loyalty to your brand. Having satisfied and loyal customers results in a wide variety of benefits to your business. This raises and interesting question, one that you will begin to answer in this week’s assignment, that is “How do you know what your potential customers’ expectations are?” The answer of course is by conducting market research.

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Action Items

• Write a 1 page Research plan in which you layout how you will find out what makes hotel patrons satisfied and repeat customers.
  • Given this research question, what kind of research framework will you use?
  • What kind of data will you collect? What methods will you use to collect that data?
  • How will you measure or analyze the data? What kind of sampling procedure will you use?
  • Refer to pages 100 to 105 of your textbook as a guide.