Group Market Research Project
In this project, you will have the opportunity to apply your knowledge of social entrepreneurship and market research to support an NGO in Guatemala that provides wheelchairs to individuals in need. Based on a case study write-up, the founder of the NGO is seeking your assistance in conducting market research on various stakeholder/customer groups to enhance the organization’s impact. Your task is to conduct in-depth research using online library resources and present your findings and recommendations to help the NGO better understand and serve their target stakeholders.
Steps to completing the project:
1. Stakeholder/Customer Group Assignment
· Families of children who need a wheelchair
· Organizations that can fundraise (e.g., churches)
· Government (via Grants)
2. Research Objective:
To understand the stakeholder group at a level that allows development of a set of value propositions and preparation of selling script with powerpoint deck in a later project.
3. Research Methods:
Utilize online library resources, academic databases, industry reports, news articles, and case studies to gather relevant information about your assigned stakeholder/customer group.
· 4. Data Collection:
Search for and collect information that provides insights into the needs, preferences, behaviors, and challenges faced by your assigned stakeholder/customer group. Compile a comprehensive dataset of relevant articles, reports, case studies, and other resources. See library guide for good resources.
5. Data Analysis:
Analyze the collected data to identify patterns, trends, opportunities, and challenges specific to your stakeholder/customer group. Extract key findings that can inform the NGO’s strategies and initiatives.
6. Presentation of Findings:
Create a visually engaging presentation summarizing your research findings and insights. Clearly communicate the main points, challenges, and opportunities related to your assigned stakeholder/customer group. Produce a professional quality report.
8. Project Presentation:
Each group will have the opportunity to present their findings and recommendations to the class. Presentations should be concise, engaging, and well-structured. Each presentation should take approximately 6-8 minutes to highlight findings. This should be a professional quality presentation.
Introduction Provide a brief overview of the target company and the chosen stakeholder group. Explain the importance of understanding this stakeholder group for effective marketing strategies.
Background and Context Discuss the industry and market in which the target company operates. Highlight any recent trends, challenges, or innovations that are relevant to the stakeholder group.
Stakeholder Profile Create a comprehensive profile of the chosen stakeholder group. Include demographic information, psychographic traits, behaviors, needs, preferences, and any unique characteristics that influence their interactions with the company.
Trends and Influences Explore external factors impacting the stakeholder group’s behavior and preferences. This could include technological advancements, socio-cultural shifts, economic influences, or regulatory changes.
Buying Journey and Decision-Making Process Map out the typical buying journey of the stakeholder group when interacting with the target company’s products or services. Identify key touchpoints, pain points, and decision-making factors.
Conclusion Summarize the key findings from the research. Emphasize the insights that are most relevant for developing effective value propositions and sales strategies in the later stages of the project.
· The report should be well-organized with clear headings and subheadings.
· Use a variety of reputable secondary sources such as academic journals, industry reports, news articles, and market research databases. Include in the reference list.
· The length of the report should be approximately 6-8 pages (excluding references and appendices). Typically business reports are single spaced with lots of white space. Consider graphics.
· Use proper citation and referencing of sources via Chicago Style (see library guide).
Well defined stakeholder group and context (15)
Identifies key insights, trends, and challenges (15)
Maps the decision making process (10)
Comprehensive use of library resources and variety of sources (10)
Clear and well-communicated paper and presentation (15)
Accurate and consistent citations (10)