MKTG$224$

Assignment #$1$ Research Proposal$/$ Proposal Writing $($Team$)$

TYPE:

Assignment $1$

DATE DUE:

ASSIGNMENT #$1$ IS DUE ON FEBRUARY $4,2024$

OUT OF:

$20$ marks and worth $15\%$ of Final Mark

TEAM PROJECT:

$24$ people maximum per project

This is the first part of the marketing research project that you will complete over the course of the semester. By the time you have finished, with all the other assignments, you will have essentially written an entire Market Research report for a new product or new concept evaluation.

There are lots of examples of Market Research projects, including but not limited to: new product triers and repeaters studies; to taste testing focus groups; to customer satisfaction; to usage and attitudes studies; to customer or user experience surveys. Here$$s one other:

Have you ever thought about a NEW product or service idea that would....

$...$ solve a problem you$/$ your friends might have?

$...$meet an unmet need?

$...$improve upon existing products$/$ services?

This is your chance to develop your idea and test it with consumers!

We are going to work on a Product or Concept Evaluation type of study in this class, to give us an idea of how companies may move from an idea in someone$$s head, to developing that concept, testing it with consumers, and then analysing the results and making decisions upon those insights. Does the idea move to further development? Does it get tweaked and then developed? Or does it get returned to the idea recycling bin, maybe waiting for different timing and situations?

Companies use marketing research to help them evaluate new ideas BEFORE launching them into the market. One tool is CONCEPT EVALUATION research.

A CONCEPT STATEMENT is created, providing the client or company with the written or graphic description of the idea for the target group.

Consumers evaluate the POTENTIAL of the idea on a series of standard questions. $($The key here is standard$).$

Often, companies and clients will compare results to other tests called BENCHMARKS.

To get a GREAT Mark, Read the Instructions and RUBRICS Carefully!

You will work in the same TEAM for ALL $3$ parts of the project $$ so for Assignments $1,2,4.$

Each team will designate a Team Co$-$Ordinator. This person ensures items are on track, coordinates all parts of the assignments, submits to the Dropbox when due.

I have formed your groups with members selected randomly.

ASSIGNMENT $1$:

You and your team will be coming up with a NEW product OR service IDEA$/$ CONCEPT that could be targeted to a fairly broad group of people: e$.$g$.$ Young adults $1835$ years old. Or Seniors $65$ years $+.($Try to think of people within our class as your target group as you may send out surveys to them$)$

You will be sending your survey to this group $$ your classmates, your friends, your family, so your idea should have BROAD appeal. $($For example, you may not want to select a target group of iguana owners, as those people may be harder to find, as it is not a broad target market. You may want to select an invisible leash for walking dogs as many people have dogs$).$

Keep your IDEA simple. Follow the KISS rule $$ Keep It Simple and Sweet $($or Keep it Short and Simple$).($Read the examples that will be provided at each stage$).$

Complete and upload your idea TEMPLATE $($use the TEMPLATE for NEW PRODUCT$/$ Service$)$ by $[$January $21,2024$ end of $2$nd week$]$

I will approve your IDEA by January $22-23,2024$ before moving to the next stage of writing the proposal

For each Assignment, $1,2,$ and $4,$ you and your TEAM must also complete:

The Roles and Responsibilities FORM $(1$ per Team $-$ BEFORE WORKING on ASSIGNMENT. Dates are given in the Work Plan$)$

Peer Evaluation $(1$ per student $$ AFTER ASSIGNMENT is COMPLETE $$ Due SAME DAY as your ASSIGMENT DUE DATES$)$

Once your IDEA template is approved by the professor, you may begin working on the Research Proposal document, using the PROPOSAL template. The Client may have asked that all agencies provide a Research Proposal outlining how they are going to evaluate this new idea.

Modules $1$ and $2$ in the Course Content will help you to define the business problem or opportunity and help you translate that into research objectives. With any new concept evaluation, your research objectives are fairly standard:

STANDARD QUESTIONS

RESEARCH OBJECTIVES

Most concept tests include standardize QUESTIONS to gauge the potential of a new idea including:

Your RESEARCH Objectives should be written to reflect these questions:

$1.$ Purchase Intention

$1.$ To Determine the likelihood of buying the concept in the next TIMEFRAME.

$2.$ Perceived difference $/$ uniqueness

$2.$ To determine perceived difference of concept from other products that are currently available.

$3.$ Perceived advantage

$3.$ To determine perceived advantage of concept

$4.$ Expected frequency of purchase$/$ usage

$4.$ To determine expected frequency of using$/$ buyin