What tracks the satisfaction of various constituencies who have a critical interest in a company’s performance?

Please read the scenario below, and then answerthe questions that follow in a 3-page analysis. Thequestions will guide your analysis of the situation,but they will need to be presented as part of ananalysis to John and Ellen on what is needed fortheir marketing plan.Scenario:John and Ellen want to open their own grocerydelivery service in a medium-sized city consistingof 250,000-750,000 people. The service will offerelements suited for the targeted demographicneeds of the core consumers.The desire for grocery delivery services hasexploded in recent years. Given people’s busyschedules and frustrations in finding daycare andbalancing activities, grocery shopping can feelmore and more like a chore, especially with smallchildren. However, there is a great deal ofcompetition between current services, spanningfrom Amazon’s Whole Foods to Instacart to FreshDirect. Keeping this in mind, Joe and Ellen’s needfor intensive marketing research is critical.Marketing research involves defining the problemthat the business is attempting to address (andthe opportunity it is seeking to exploit),developing a research plan, collecting the data,analyzing the data, and finally making theresearch actionable (Tomasetti, 2019). In thisinstance, this might include specifically addressingresearch actionable (Tomasetti, 2019). In thisinstance, this might include specifically addressingthe problem of the target demographic. Is it busyprofessionals who simply don’t have time to shop?Families with young children? People who areelderly and are concerned about shopping? Theservice would likely have to target severaldemographics to be viable, but addressing thedifferent needs of these target groups mightrequire different strategies.Just as a varied approach to analyzing consumerdemographics is necessary, so is an equallytriangulated approach to research. Seldom is onetype of research useful. For example, conductingsurveys of the typical groups that make use ofsuch services might be helpful. Focus groups (overZoom or phone conferences) can likewise beuseful to collect more anecdotal research thatwould yield unexpected insights that quantitativeinsights might not provide. Surveys requirerelatively little effort, which can yield largeamounts of data, although the feedback can below-quality. In contrast, interviews tend to bemore involved and require more effort on boththe part of the participants and the researchers.Interviews can be useful, even though they areanecdotal in nature.All of these data must be infused into constructinga viable business plan. Investors or backers,whether offering a loan or venture capital, wish tosee evidence that there is a need for the serviceand that it will be successful. Once the servicesee eviaence tat tnere is a neea tor tne serviceand that it will be successful. Once the service islaunched, however, the market research mustcontinue. For a Web-based service, this mightrequire keeping track of goods and servicesbought, the number of Web site hits, and whatpromotional strategies (such as offering onlinecoupons or 10% off a first-time order) result inreturn customers. To ensure continuedinvestment and support, the company must notsimply generate interest and customer traffic, butit must also be financially successful. Thus, thecost of running the business cannot just notexceed the gains.The marketing research should also be presentedattractively to potential investors so that it can beeasily assimilated and make a persuasive case forthe business. If necessary, industry researchabout the grocery market in general may beuseful to support the business’s case. Forexample, one concern of potential investors mightbe that postquarantine, interest in onlineshopping will decline. However, according to theleading trade publication, this is not the case.“Online grocery will swell to 21.5% of total U.S.grocery sales by 2025, more than doubling itscurrent share of the overall grocery market”(Redman, 2020). Investors are likely eager to geton board with an industry-wide trend, andpreliminary market research prelaunch can becostly, even when largely conducted online, socombining research from such trade publicationswith personal research is likely the mostcombining research from such trade publicationswith personal research is likely the most feasibleapproach for a startup.Address the following questions in your response:1. What is true of marketing research?2. Marketing insights provide what type ofinformation about how and why peopleobserve certain effects in the marketplace?3.When defining the problem, marketingmanagers must do what?4. What are the steps of the marketingresearch process?5. What is an example of primary data?6. What is a gathering of 6-10 people whodiscuss topics for a small payment?7. What is the most scientifically validresearch?8. What type of research is small, relativelyindirect, and unstructured?9. What type of research systematicallyprovides measurable statistics?10. What phase of market research is usuallythe most expensive?11. What are the measures that quantify,compare, and interpret performancecalled?12. What tracks the satisfaction of variousconstituencies who have a critical interestin a company’s performance?