Marketing Research Case Edwars Jones
Objective: The objectives of this case are to identify appropriate exploratory research strategies for the situations described and to consider factors in developing effective research methods, e.g., questionnaire, focus group, etc.
Scenario: Edward Jones is the only major brokerage firm in the U.S. that exclusively targets individual investors and small businesses. The company’s philosophy is to offer personalized services to individual clients starting with a one-on-one interview. This interview forms the basis of an investment strategy that provides a client with income, growth, and safety. See website at www.edwardjones.com.
Imagine you are hired as a marketing researcher in a firm comparable to Edward Jones. The CEO of the firm approaches you with the following:
Many people in minority groups, including African Americans, Hispanic Americans, Asian Americans, and Native Americans, do not invest. What exploratory research can be done to develop business with these minority markets?
Another group with low investment activity includes those who stopped their education at the high school level. What factors should the organization consider in designing focus groups with these potential clients?
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You make an initial plan to address the CEOs questions/concerns incorporating the following:
Ethical considerations in Marketing Research
Focus Groups, Depth Interviewing, or Observation Method Type of Likert Scale to use in questionnaire
What to consider as a primary approach in the scientific method, e.g., what is the major research question? What do you really want to know?