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Market Research
December 2022 Examination
1. Apple is developing an automatic
driving car and wants to understand the target market fit for the same. Using
techniques of new product development elaborate on the steps that Apple must
follow in the research and development. (10 Marks)
Ans 1.
Introduction
Even
though there are too many consumer goods on the market, establishing and
launching new product technologies is still a common objective for both new and
recognized organizations. Products that can meet demand and supply customers
with a service to their troubles or something they need have to be developed by
companies. Market research and the production of suitable products that are
made to interact with customers are linked. Services obtain a competitive
advantage with product growth, which additionally assists in establishing how
to cost products effectively, how to generate them cost-effectively, and how to
fill upmarket gaps through a reliable product lifecycle. When establishing a
product, companies must conduct market research to recognize possible
opportunities and decrease the active threats. As shown in the layout over,
each stage of a product's
2. As a market analyst at Kantar,
you have been assigned a client from FMCG industry. The client faces a
continuous decline in the sale. Which methods of data collection would be
appropriate for identifying the issues related to the decline in sales? Justify
the arguments. Develop a market research process to understand the reasons for
the same. (10 Marks)
Ans 2.
Introduction
Consumer
goods that are readily available and economical are always targets for
businesses. Products that sell rapidly, are moderately priced, and are popular
are described as FMCG, also referred to as consumer packaged products. Since
clients utilize them routinely, these things are fast-moving since they rapidly
leave a shop or supermarket. The FMCG market, worth numerous dollars, is
creative and imaginative. Lots of people make use of FMCG items daily. You can
quickly identify with the sector as a staff member. If you want a job setting
that encourages creative thinking and sharing of suggestions, consider working
for an FMCG firm. Because such a broad array of items are readily available to
clients frequently, the sector must keep up with demand and constantly create
new item concepts. Because FMCGs usually cost less than other items on the
marketplace, they consume a smaller section of consumers' income. The time
between buying and using the item is rapid,
3. Metaverse is the new virtual
world, people are looking at. Several business organizations are trying to be a
part of Metaverse. For example, Airtel Partynite is a metaverse platform where
visitors can experience the metaverse and watch online favorite shows. You have
to conduct research for Airtel to resolve two business problems:
a. Design the methodology of the
data collection by enlisting the characteristics of the respondents, the type
of sampling employed, and the research type with proper justification. (5
Marks)
Ans 3a.
Introduction
Lifelong
learning is becoming increasingly crucial as our society relocates far from
manufacturing facility jobs. We now include technology and data in our work
processes. Educators are under more pressure than ever due to this adjustment.
The methods vary from uncomplicated and typical strategies, like in-person
interviews, to more sophisticated data collection and analysis techniques.
Concept and applications
Data
collection for marketing research is a comprehensive treatment in which a
researcher conducts an organized search for all
b. Identify the type of content
watched by users on the platform. Develop a research questionnaire to get
insights on the same from users. (5 Marks)
Ans 3b.
Introduction
In
the Metaverse, Avatars are utilized by community participants to represent themselves,
communicate with each other, and practically increase the community. Digital
money can buy numerous items in the Metaverse, including clothes, computer game
tools, guards, and more. Customers can take a trip via the Metaverse for fun
without an objective by using a virtual reality headset and controllers.
Concept and applications
A
science fiction author, Neal Stephenson coined the term "metaverse"
in his 1992 novel Snow Accident. It's a term that describes a shared virtual
space where individuals can engage with AI-powered, computer-generated content
and
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