In: Economics
You are a marketing research consultant and your company has just conducted a set of focus groups for a cliet, and the results are positive about launching a new product. what waring or cautions should you coimmunicate to the clinet before the client makes this multi-million dollar decision to launch the product? in other words, what might be the limitations of the foucs groups you conducted?why
Answer: Basically focus group refers to qualitative research in which it asks participants for open-ended responses conveying thoughts or ideas in case of product marketing.The main purpose is to provide data to enhance, change or create a product or service targeted at a key customer group.
After doing market research by focus groups following things need to be communicate to the client before making multi million dollar decision to launch the product:
1) Need to ensure them that main objective to be fulfilled .
2) Proper analysis of focus group research in order to ensure all the economic variables are suitable for investment or not.
3) To Provide insight into why certain opinions are held.
4) Need to validate and planning of new products and programs.
5) Last thing is to evaluate existing programs and market practices.
Limitations of focus group research :
1) There can be disagreements and irrelevant discussion that distract from the main focus.
2) They can be hard to control and manage and tricky to analyse.
3) They can be difficult to encourage a range of people to participate.