In Risky business one needs to perform a thorough research. In fact more than the routine research. Especially, if one has quite a bit at stake! Any comments or interesting story to share? Do you have any ideas about a News venture that you like to share

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Trinidad TremblayLv2

17 Mar 2019

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This week we are learning about money and the financial system. For our discussion, we are going to look at a podcast that explores some less talked about financial stories and practices. Listen to the stories, and discuss what you found most interesting. Do you engage in any DIY finance?

The stories (like others we have discussed) comes from the excellent Planet Money Podcast at NPR. You can listen, download or read a transcript here:

http://www.npr.org/sections/money/2016/02/10/466281062/episode-466-diy-finance (Links to an external site.)

If you want to read more about the US financial Diaries stories mentioned in the episode, you can do so here: http://www.usfinancialdiaries.org/ (Links to an external site.)

Q: what is the most interesting part? Do you engage in any DIY finance?

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PART 1 React to the following scenarios, typing your answers (either A or B) into your deliverable document: Scenario 1: A marketer is trying to learn about current industry trends to generate ideas for future products. He has purchased several reports from industry organizations and has done some research on the internet. This is an example of: A. Primary B. Secondary Scenario 2: A marketer is a arranging a series of discussions and interviews with opinion leaders to learn more about their views on the current range of product offerings. This is an example of: A. Qualitative research B. Quantitative research Scenario 3: A marketer has commissioned a series of telephone surveys to discover which candidate each respondent is planning on voting for and why. This is an example of: A.Qualitative research B. Quantitative research Scenario 4: A marketer wants to gain more insight into the types of amenities that a new apartment complex might want to offer in order to compete effectively for possible renters. The marketer has arranged some focus groups to explore the issue. This is an example of: A. Primary research B. Secondary research Scenario 5: A marketer is reviewing a series of research reports that were generated six months ago, 12 months ago and 18 months ago to determine the levels of brand awareness among a particular customers group. The marketer is considering commissioning a new study. This is an example of: A. Primary research B. Secondary research PART 2 First, match the following marketing decisions to one of the research scenarios listed in Part 1: The marketer knows that this information is valuable and could be sold. The marketer is considering doing some testimonial advertising. The marketer decides that if not much has changed s/he might not proceed with its original plans. The marketer decides after reviewing the information, to share it with colleagues and then to hold a brainstorming meeting. The marketer decides to do a survey to gain further insights. Second, explain your pairings; why do you think the marketing decisions listed in Part 2 match the specific research scenario outlined in Part 1?

One difficulty of moving a small business from a traditional retail store to an online store is channel complications. In many cases, everything has to be reconsidered. For example, how will you communicate with your customers? How will they find product information? How will you accept orders? Manage payments? Shipping? These questions and many more have kept Harrison Kirby from making the e-commerce plunge. Harrison runs a local golf course with a shop of around 150 products. He would love to have a website that would facilitate e-business for his golf course. He wants online scheduling of tee-times (including coordination of group play), online shopping, and social network integration. Below you will find a letter from Harrison explaining what he would like for you to do. Hi! I have an interesting project for you. I am interested in an online presence for my golf shop. Specifically, I want to offer a few (less than 150) products online for in-store pickup or delivery. I would also like online scheduling of tee-times. I want you to search the web for companies that provide this type of product. Ultimately, you may recommend a combination of providers to accomplish all that I am trying to do. For example, your final recommendation may include a web hosting solution, logistics provider, and a CRM tool (Customer Relationship Management). Or perhaps you will find product that can be customized to provide all the functionality in one piece. Keep in mind that my shop is a small business and I do not have resources to manage a complicated system. I needs something that is fairly easy to implement, use, and manage. I have heard of online, cloud, as-as-service platforms that do not require local hardware. I think that this type of setup would be most useful to me, but I have no idea on the type of software I should use to support my business. After you complete your research, please send me a report with the following items: overview of the companies you learned about, your selections (and why you chose them), and how you feel this will help me accomplish my goals. I am very excited to see your work! Harrison