Analyses of Markets, Product Life Cycles, and Resources
Activity 2: Market Research
As you learned, the three “Ts” of marketing (trade shows, trade publications, and trade associations) can be used to research information about your competition. However, they can also be helpful in providing information about a business concept’s feasibility. In this Activity, you will perform market research for a new nanotechnology product using the three “Ts” of marketing. Your Activity responses should be both grammatically and mechanically correct, and formatted in the same fashion as the Activity itself. If there is a Part A, your response should identify a Part A, etc. In addition, you must appropriately cite all resources used in your response and document in a bibliography using APA style. (A 5-page response is required for the combination of Parts A and B.)
Part A Examine a nanotechnology product by researching relevant trade shows, trade publications, and trade associations. Create an annotated bibliography of resources that includes a minimum of four (4) trade shows, four (4) trade publications, and two (2) trade associations that provides useful information about the nanotech product. Be sure to include details about each event/activity/organization/publication (online and in print), etc. Organize the annotated bibliography into the three (3) distinct sections (shows, publications, and associations) and for each section, include a statement explaining why this research is important when learning about the nanotechnology industry and competing companies and products.
Part B State the conclusions you have drawn after performing this market research activity and acquiring new nanotechnology industry, company, and product knowledge. Specifically address the following issues:
- 1. What else can you learn from the trade show Web sites besides information about the trade show itself?
- 2. What else can you learn from trade publications?
- 3. What benefits can you obtain from trade associations?
- 4. from a revenue perspective, why is researching the 3T’s important?
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