1.

Purpose of Marketing Research for Bob:

Bob requires marketing research to comprehend the market potential of his reconditioned drill bits and to
evaluate the demand for his services among local manufacturers. Conducting marketing research will
enable him to make informed decisions about expanding his business, including evaluating the market
size, demand, competition, and potential growth opportunities. It will also assist him in refining his
marketing strategy, pricing, and distribution.
2. Finding a Marketing Research Firm:
Chapter 2 provides information about the marketing research industry, including its structure and
challenges. While it may not provide detailed instructions on how to find a marketing research firm, here
are some key points that can guide Bob in his search:
1. **Evolution of the Industry: Bob can learn from the history of the marketing research industry and its
growth. Understanding the historical context might give him insights into the types of firms that exist
today.
2. **Who Conducts Marketing Research: Chapter 2 discusses client-side marketing research and supply-
side marketing research. Bob can consider whether he wants to work with a marketing research firm on
the supply side, which specializes in providing research services.
3. The Industry Structure: This section discusses different types of firms and their specialties. Bob can
look for firms that specialize in the type of research he needs, which may be related to manufacturing or
industrial markets.
4. Challenges to the Marketing Research Industry: Bob can be aware of the challenges the industry faces,
such as the need for skilled employees. This knowledge may help him identify firms that meet his specific
needs.
5. Industry Initiatives: Bob can consider looking for firms that participate in industry initiatives or adhere
to best practices. This indicates their commitment to quality research.
While Chapter 2 doesn't provide a step-by-step guide to finding a marketing research firm, it offers
insights into the industry's structure and challenges, which can inform Bob's search. To find a specific
marketing research firm in his state, Bob may need to use general business search methods and contact
local business associations or directories.
3. Bob's Problem:
Bob's problem is two-fold:
- He has identified an opportunity to refurbish expensive throwaway drill bits and has successfully
introduced this service to local manufacturers.
- He anticipates increased demand but is uncertain about the volume of business that he can expect.
4. Research Design for Finding the Number of Firms Making Engine Blocks in the US:
If Bob wants to know how many firms make engine blocks in the United States, he would be
conducting descriptive research. Descriptive research aims to describe the characteristics of a population
or phenomenon. Bob's objective is to collect data on the number of firms producing engine blocks, which
is a descriptive task.
5. Secondary Source of Information for Engine Block Manufacturers:
To achieve his goal of finding the number of firms making engine blocks in the United States, Bob
should seek external secondary data. This could involve:
- Consulting industry reports or databases related to the manufacturing of engine blocks.
- Accessing government or industry association statistics on manufacturing companies.
- Exploring trade publications or business directories that provide information on industrial
manufacturing firms.
- Analyzing data from sources like the Bureau of Labor Statistics or industry-specific associations.
By conducting such research, Bob can gain insights into the potential market size and competition in the
engine block manufacturing industry, which will help him make informed decisions about expanding his
business.