Marketing Research assignment 2 Example | Topics and Well Written Essays - 250 words

Marketing Research 2 - Assignment Example The benefit of this test is that it is cheaper to implement compared to other standard market tests. The effectiveness of the test will be measured by the number of additional customers that are attracted by the free buffet offer. These can be considered as the dependent variables DV), and their number will indicate the success rate of the market test. It will also indicate the number of return clients, who can be associated with the offer of the free breakfast snack. 2. Design a test of a new pricing strategy for orange juice concentrate. The brand is an established brand, and we are only interested in testing the effect of a 5 percent price increase and a 5 percent price decrease. All other elements of the marketing mix will remain the same. This can be achieved through a standard market test. It is good to select specific outlets within the company’s distribution channels. The best way is to implement 5 per cent price increase in at least 10 major outlets, and implement a 5 per cent price decrease in a similar number of outlets. The selected outlets should be scattered adequately to represent the national market outlook. The selected outlets represent the Independent Variables. The best timeline that can give a clear response should be about 20 days. The performances of the selected outlets should be used to determine market response. Therefore, any increase or decrease in the number of customers represents the dependent variables (DV). This should then be compared to the performance of the other outlets that were not involved in the study within the same time