To suggest a category of marketing research that could support the marketing efforts of a product, we can refer to Table 1.1 in the video, "The Role of Market Research." In this table, different categories of marketing research are listed:
1. Descriptive research: This type of research helps to provide a detailed picture of a market or consumer behavior. It aims to answer questions like "What is happening in the market?" or "What are the characteristics of our target audience?"
2. Diagnostic research: Diagnostic research focuses on understanding the reasons behind market behaviors or problems. It aims to answer questions like "Why are customers not purchasing our product?" or "What are the factors influencing consumer decision-making?"
3. Predictive research: Predictive research involves analyzing past data and trends to make predictions about future market conditions or consumer behavior. It aims to answer questions like "What will be the demand for our product next year?" or "What are the likely market trends in our industry?"
4. Prescriptive research: Prescriptive research provides recommendations or action plans based on the findings of other research types. It aims to answer questions like "What marketing strategies should we adopt to increase sales?" or "How can we improve customer satisfaction?"
To select a category of marketing research for a specific product, let's consider an example:
Product: Fitness wearable (e.g., a fitness tracker or smartwatch for health tracking)
Category of marketing research: Diagnostic research
Reason for usefulness: Diagnostic research would be useful for a fitness wearable product as it would help identify the reasons behind market behaviors or problems. It could address questions like "Why are customers not adopting fitness wearables?" or "What are the barriers to usage?" By understanding the factors influencing consumer decision-making and identifying any obstacles to adoption or usage, the marketing efforts can be tailored to address these challenges effectively. This would help in developing strategies to improve consumer interest, increase sales, and refine product features to meet customer needs more effectively.