Answer:

eGO is an American company that offers light, and environment-friendly electric bikes to the consumers. The company was founded by Andrew Kallfelz in 1999 and it is headquartered in Cambridge, Massachusetts. 

1. eGO wants to increase its sales in the USA. The management decision problem is how to increase the sales of the company. For increasing product sales, the company would be required to conduct consumer surveys so that it could identify the preferences of the consumers.

 

2. The marketing research problem for the above-identified management research problem is what type of information can help the company management to increase its sales and how that information could be collected.

 

3. I think, the company adopted a descriptive research design to determine consumer preferences for eGO vehicles. Descriptive research tries to answer what, how, when, and where questions of a particular research problem. It requires a definite problem statement to provide conclusive results.  

 

4. eGO can make use of panel by appointing managers and researchers for identifying the management decision problems and the marketing research problems faced by the company.

 

5. I would use the internet to search for industry association reports, research articles, consumer reports, news articles to determine men's preferences for electric vehicles. Various metrics like post engagement rate, account mentions, impressions, reach, and applause rate can be used to monitor the interaction of consumers with brand advertisements and the conversation going on around the product on social media.

 

6. Nielsen, SPINS, and IRI are the three trusted sources of syndicated data that would be useful to eGO in projecting future demand for its vehicles. These market research firms collect data on consumer behavior, consumer insights, cross-channel point of sale reporting, and analytics reporting.

Step-by-step explanation

eGO is an American company that offers light, and environment-friendly electric bikes to the consumers. The company was founded by Andrew Kallfelz in 1999 and it is headquartered in Cambridge, Massachusetts. 

 

1. A management decision problem is a situation characterized by issues faced by the company management that are yet to be decided and requires research for decision making. eGO wants to increase its sales in the USA. The management decision problem is how to increase the sales of the company. For increasing product sales, the company would be required to conduct consumer surveys so that it could identify the preferences of the consumers.

 

2. A marketing research problem is a situation that is characterized by issues like what type of information is required to solve the issue and what would be the most suitable way of collecting that information. It is data-oriented, while the management decision problem is action-oriented. The marketing research problem for the above-identified management research problem is what type of information can help the company management to increase its sales and how that information could be collected.

 

3. I think, the company adopted a descriptive research design to determine consumer preferences for eGO vehicles. Descriptive research tries to answer what, how, when, and where questions of a particular research problem. It requires a definite problem statement to provide conclusive results. It is most appropriate in those cases where a researcher wants to identify frequencies, trends, characteristics, and categories. It is used in surveys, observations, and case studies. 

 

4. A panel in the given context may refer to two concepts.

 

First, a panel of company managers and researchers appointed by eGO to identify the management decision problems and the marketing research problems faced by the company. The panel would facilitate a smooth flow of information from the managers regarding data needed by them to take decisions to the researchers who could then identify the type of information required to answer those questions and the ways in which that information could be collected.

 

Second, it might refer to syndicated panel data. Syndicated data can be categorized into two unique channels that are syndicated store data and syndicated panel data. Syndicated panel data is collected by third-party companies and gives an overview of the brand loyalty, purchase frequency, consumer demographics, through household samples.

 

5. I would use the internet to search for industry association reports, research articles, consumer reports, news articles to determine men's preferences for electric vehicles. Social media has become an important tool to monitor the conversations that are happening around your brand. Various metrics like post engagement rate, account mentions, impressions, reach, and applause rate can be used to monitor the interaction of consumers with brand advertisements and the conversation going on around the product on social media.

6. Syndicated data is the data collected by independent research firms. The data collected by these firms are not client-specific and is purchased by business organizations for taking marketing decisions. Nielsen, SPINS, and IRI are the three trusted sources of syndicated data that would be useful to eGO in projecting future demand for its vehicles. These market research firms collect data on consumer behavior, consumer insights, cross-channel point of sale reporting, and analytics reporting.

https://wps.prenhall.com/wps/media/objects/13294/13613492/Video_exercises/M05_MALH4481_04_SE_WC05.pdf

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https://www.bedrockanalytics.com/blog/what-is-syndicated-data/

https://www.leadquizzes.com/blog/research-design-types/

https://www.scribbr.com/methodology/descriptive-research/

https://explorable.com/descriptive-research-design

https://sproutsocial.com/insights/social-media-metrics/

https://blog.hootsuite.com/social-media-metrics/