Question $2($Marks: $40)$

You are a member of a product development team at a technology company. The company is looking to diversify its product portfolio by introducing cutting$-$edge $$TechWear$$ wearable clothing incorporating advanced biometric sensors that provide real$-$time analysis of various health metrics.

The target audience is health$-$conscious individuals aged $25-45$ who lead active lifestyles and value comprehensive health insights. However, the company is unsure which features customers are looking

for or whether there is sufficient demand. The company tasks you with writing a report covering the following theme: Marketing Research Methodology.

Overview $-$ Introduce the importance of marketing research in understanding customer needs and validating market demand for TechWear.

Key Research Methods:

I. Surveys and Questionnaires: Describe how surveys can be used to gather data on customer preferences, desired features, and willingness to pay. Highlight the importance of designing questions that focus on biometric sensor functionality, health metrics, and usability

These are addition methods outside the scope of the textbook:

II$.$ Focus Groups: Explain the role of focus groups in obtaining in$-$depth qualitative feedback. Discuss how to engage with potential customers to understand their pain points, preferred designs, and reactions to TechWear concepts.

III. Market Analysis: Mention analyzing competitors and market trends to understand existing products and identify gaps TechWear could fill.