Market Research Plan

Write a paper that addresses the following:

You have been tasked with developing a market research plan for your company’s new line of lip balms for men and women. Determine what type of market research (primary or secondary) you’ll need to collect and the tool(s) you’ll use to perform your data collection. Include a section on any challenges you might face and how you’ll handle them.

The requirements below must be met for your paper to be accepted and graded:

Write between 550 words (approximately 2  pages) using Microsoft Word.

Attempt APA style, see example below.

Use font size 12 and 1” margins.

Include cover page and reference page.

At least 60% of your paper must be original content/writing.

No more than 40% of your content/information may come from references.

Use at least two references from outside the course material, preferably from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the two reference requirement.

Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must be identified in the paper and listed on a reference page.Reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) must come from sources such as, scholarly journals found in EBS COhost, online newspapers such as The Wall Street Journal, government websites, etc. Sources such as Wikis, Yahoo Answers, e How, etc. are not acceptable.

…………………..Answer preview…………………….

A market research plan is an outline of how an organization will gather, analyze and interpret data relating to their target market. By analyzing and interpreting this data, the business gains valuable information about the type of product, prospective clients, trends in their spending and appropriate location of the market (Lee & Soman, 2008). There are two types of market research that marketers use……………………………..

APA

625 words