JMS 460 Study Guide - Midterm Guide: Multinational Corporation, House Mark, Toyota 4Runner
27 Jul 2015
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Failure of the ford"s edsel - misuse of research. Research was used to make people believe something that wasn"t true, not to design to meet consumer"s taste. Didn"t run normal taste test on consumers. Marketers shouldn"t always follow the findings of a research study. There are dangers despite the potential rewards. Market research (up-front research) tells us about the product, market, consumer and competition. Being sure the right questions are asked. Presenting the research findings in a clear, comprehensible format that leads to action. Trends come from all forms of media; reflect our changing attitudes, behaviors and values. Trends are concrete signs of the times. Our definitions of happiness, success and fulfillment. The tangible manifestations of the macro trends in fashion, music, and sports/activities. Cohort: generations of people with the same birth years and core values. Marketers can assess consumer"s lifelong values and preferences to develop strategies for products they will use later in life.
