MKGT 469
The pre-launch market research for movie “Flash Guys” is, indeed, mandatory because it is targeted to selected audience i.e. college-educated males, working professionals and private investors in the age of 25 – 45 years associated with financial sector. The distributor Lion Gate is interested in knowing about how the scope of plot and the performance of actors will attract target audience to flock into cinemas and enjoy the concept of Flash Trading and the use of technology derailing operations and sustainability of any stock market by state-supported cyber criminals. Considering the fact that Mr. Lion Gates has several weeks, it is justified to allocate two complete weeks for completion of market research activities so that the findings could be incorporated in formulation of promotional campaign and distribution strategy of ‘Flash Guys’.
Since there are no budget constraints, the executive would like to recommend the use of four proposed research strategies including use of internet-panel data, email survey, focus groups and in-depth session interviews. The principle reason for use of above strategies is because of the fact that the two research methods could be initiated online resources with immediate effect, while the other two could be conducted by physically approaching people to have focus groups and interview sessions to probe the reasons behind the responses contributed by research participants. The country-wide internet-panel data will provide relevant information about demographics, education, psychographics, geographic, lifestyle and media exposure of targeted audience. The results will then support in conducting a planned email survey with students, working professionals, equity investors, technology folks and general audience that appreciate movies on real world contemporary issues and economic interventions. The executive could attain system-generated data results from email survey, which can be compared with previous market analysis and arguments of Mr. Lions Gate and other executives. The time required for an extensive online survey could be 2-weeks or 15 days. For instance, the paperless internet survey method is among the fastest and cheapest market research techniques as it doesn’t need a specialized information system for questionnaire designing, data analysis and evaluation of results.
On the other hand, the survey results could be used in developing focus group parameters and guidelines to evaluate the knowledge of flash trading among people and the primary experiences of audience regarding flash trade software. The strategy will particularly be helpful in identifying misconceptions about flash trading, stability of financial markets and regulatory controls by US government to curb this illicit practice. The executives could conduct several focus groups in 2-weeks with multiple participants to compare and contrast survey analytics. Focus groups, however, is an expensive and time consuming research method because it usually involves a trained moderator who encourage participants to share their views. The executives could then highlight some informative participants of focus groups for further in-depth interviews that could reveal the strong and weak markets across USA for launch of Flash Guys. Consequently, the distributors would have to develop a state-wise promotion and distribution strategy with special emphasis on 50 most populated U.S. cities with higher literacy rates. Also, the distributor could conduct market research in cities like New York, Los Angeles, Chicago, Houston, Philadelphia, Phoenix, San Diego, San Dose, Dallas, San Francisco, Austin and others as they are commercial and financial centers. Finally, the executives could contract with any credible research agency in certain cities to facilitate in market research process.
