Marketing research is conducted to collect, record, analyze, and interpret data relative to your business market and product category. Global market research is done with the same purpose; however, the scope of the research is for organizations conducting business on a worldwide scale.
Read this article comparing domestic market research and international market research: The 8 Major Differences Between Domestic and International Market Research
There are many tools available for market researchers online. One of these tools is Google Trends. Please access Google Trends to learn more about how this site works.
Enter the search term â€œbaby formulaâ€. On the results page, make note of the trends in the United States. Select Worldwide. Make note of the trends worldwide.
Another tool is Statista. Access this site and enter the search term â€œbaby formulaâ€. On the results page, make note of the search results categories.
Finally, another free tool is the Google Dataset Search. Access this site and enter the search term â€œbaby formulaâ€. Make note of the type of data available within this tool.
Using what you have learned from these sites, use the following questions to guide your writing:
- Explain the types of information you can find using each marketing research tool.
- Analyze and explain the purpose of using each of the marketing research tools.
- Explain which of these tools you would use to determine where the greatest need for baby formula is. Provide evidence from the tools to defend your position.
- Explain why it is important to utilize more than one tool to determine marketing opportunity for brands?
Please use the MKTG630_U4_IP_Template to complete this assignment.
Please submit your assignment.
For assistance with your assignment, please use your text, Web resources, and all course materials. Find resources on how to write academically and use APA citations, including an example of Masters-level writing, in the Writing Style Guide for Masterâ€™s Students.
Individual Project Rubric
The Individual Project (IP) Grading Rubric is a scoring tool that represents the performance expectations for the IP. This Individual Project Grading Rubric is divided into components that provide a clear description of what should be included within each component of the IP. Itâ€™s the roadmap that can help you in the development of your IP.
|Expectation||Points Possible||Points Earned||Comments|
|Assignment-Specific: Student has demonstrated an understanding of the data sets available in each tool.||30|
|Assignment-Specific: Student has demonstrated an understanding of the purpose of Google Trends.||30|
|Assignment-Specific: Student has analyzed the tools and demonstrated an understanding of the application of the data to marketing practices.||30|
|Assignment-Specific: Student has demonstrated an understanding of the importance of utilizing multiple data sets.||25|
|Professional Language: Assignment contains accurate grammar, spelling, and punctuation with few or no errors.||10|
|Total Points Earned|