Chapter 1 - The Role of Marketing Research

Running head: MANAGEMENT
Management
Name of the student
Name of the university
Author Note:

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Table of Contents
Part 1. Executive Summary:........................................................................................................1
Identification of the problem:..........................................................................................................1
Scope of the problem:......................................................................................................................1
Academic concepts and theories:.....................................................................................................2
Diagnose of the strategic issues and key problems:........................................................................2
Part 2. Appropriate analysis: Conceptual, situational, and financial performance:.........................2
PESTEL of the United State of America:........................................................................................3
Political:.......................................................................................................................................3
Economic:....................................................................................................................................4
Social factors:..............................................................................................................................5
Technological factors:.................................................................................................................5
Environmental factors:.................................................................................................................5
Legal factors:...............................................................................................................................6
SWOT of Lock-Awn Antibillow Device manufacturing firm (case study):...................................6
Evaluation of the market attractive for EMR innovations using industry analysis tool (PESTEL
and SWOT) (corresponds to 4A):....................................................................................................7
Identification of the potential target markets for Lock-Awn Billowing Device (corresponds to
4B):..................................................................................................................................................7
(1) Needs:................................................................................................................................7

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(2) Identification:....................................................................................................................7
(3) Attractiveness:...................................................................................................................8
(4) Profitability:......................................................................................................................8
(5) Positioning:.......................................................................................................................8
Marketing strategy decisions Eric and Mary Reynolds would have made (corresponds to 4C):....8
Target market and positioning strategy with justification (corresponds to 4D):.............................8
Marketing mix to be developed (corresponds to 4E):.....................................................................9
Sourcing of funds (corresponds to 4F):...........................................................................................9
Part 3. Conclusion and recommendations:......................................................................................9
References:....................................................................................................................................10
Appendices:...................................................................................................................................13

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Part 1. Executive Summary:
Identification of the problem:
Marketing research plays a very important role in forming business decisions in the
business organizations. Zikmund et al. (2017) define the term marketing research as ‘the
systematic and objective process of generating information to aid in making marketing
decisions.’ Thus marketing research refers to gathering of market information which in turn
finds application in decision making process. Appropriate business decision and effective
implementation of the decisions lead to high performances of the business organizations
concerned. That is why management bodies and owners of the business organizations have to
conduct market research prior to making business strategies (Wedel & Pieters, 2017). The aim of
the report would be conducting a marketing research to support the formation of marketing
strategies of a startup firm based in the US which aims to manufacture the Lock-Awn antibillow
device which would find use in the recreational vehicles (RVs).
Scope of the problem:
The scope of the paper would include the recreational vehicle industry in the United
States. The scope of the research may also include mentions of related industries like transport
industry. The researcher would take into account the two tools namely, PESTEL and SWOT.
The findings from the research would be used to form the marketing strategies of the startup firm
run by Eric Reynolds and his wife Mary Reynolds (case study).