• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Assessing demand through a questionaire.

Extracts from this document...

Introduction

DEMAND REPORT DEMAND REPORT ON A QUESTIONNAIRE It is rather imprudent to start a business if there is inadequate demand for the product. Demand is the amount of a product that consumers are willing and able to purchase at any given price. Demand is concerned with what consumers are actually able to buy (what they can afford to and would buy), rather than what they would like to buy. I have decided to open up a sports shop and my shop would predominantly favour the selling of tracksuit bottoms for all sizes but mostly youth sizes. I was not sure if there was a sufficient enough demand for my products so I decided to produce some kind of research and survey to find the interests of the local citizens who were mostly likely to buy my product. I decided to use primary research and one example of this is a questionnaire with all the right questions to help decide what to do afterwards. I am also going to research the market so I can get information about consumers by studying statistics and reports and gathering new data by surveys of individuals or groups. I have decided that my products will mainly be market-orientated because I think it would be a big risk to produce a product in which the demand is too low and therefore I may not recuperate my investments and money that I produced and distributed the product with and therefore leading to no profit and that could even eventually destroy the business. ...read more.

Middle

The age of the interviewees does not really give me enough information about demand but I know from this result that more adults need to be interviewed in order to get a more fair and non-bias result. When I asked, "what gender are you?" I interviewed 6 males and 6 females; a fair balance for a fair result, the results had to be a fair point for both sexes as the business is for both male and female. Although I asked this question, I now know that it would be fairly clear whether they were male/female so there was no need to ask this question. The question is important however to see what the different sexes need and want and to compare and contrast the results. When I asked "would you like a local sports shop in your area?" all the children and adults said yes which was expected but the O.A.P said they didn't mind which was also expected. The younger generation wanted a local sports shop but the older group either said yes or I don't mind. I assumed that the older the interviewee was, the less the less chance he/she would consider wanting a sports shop in their area. I know that there is no other sports shop in the area and therefore took a risk by choosing the location but the result proved that youth community generally wanted a sports shop. When I asked, "what do you like buying from sports shops?" ...read more.

Conclusion

The data is placed into the cells and once selected the data can be changed into any graph using the graph button on the top tool bar. You should end up with something like this: CONCLUSION From the questionnaire I know now, that I should use quota sampling on the younger age groups to get a more accurate and precise set of results as they are the more likely future customers. I have found all this information from the random sampling survey that I have carried out but I now know what to do next before making any rational decisions. From the results I will consider the age/sex and I will try to conclude in why they chose the answers and to see the demand and wants that a likely customer would want. The majority of people asked were either children or students, so I would particularly want to know their wants from the sports shop and how much of each product I'm likely going to sell. I should also survey more people for better, more accurate results and to survey people with different occupations, to see how occupation affected the results. I have decided that I am going to redo the questionnaire and this time I will use more open questions to really find out the customers ideas and thoughts and therefore see how the demand is from there. The results show a demand for the product/products I am going to sell because the area is a 'sporty' area and I believe they need some kind of sports wear/equipment store so they can benefit. ?? (footnote continued) ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Marketing & Research essays

  1. BTEC BUSINESS UNIT 2

    The advantages of having it are, * you could cut down the amount of other things to say and put all you need to in the newsletter * employers and employees can write anything personal they want inside e.g. birthdays e.g.

  2. Business Studies Company Profile

    We can see this throughout the timeline; examples of this are various mergers with other companies that have helped keep BMW alive. A good example of this is one of the first mergers BMW had, with BFW. This kept BMW on top of the market, manufacturing rail vehicles, after the ban on manufacturing aircraft engines was implemented.

  1. Mcdonalds. For this unit I will need to produce a portfolio of work investigating ...

    everything that they can to their work and the team they work in. motivation and hard work will eventually lead McDonalds to building a trustworthy and good relationship and so having very good team skills in every individual that has been a part of the business.

  2. For this assignment I have been asked to produce a new marketing strategy for ...

    The Sale Of Goods Act 1997 ? Sale and Supply of Goods Act 1994 ? Trade description act. Taxation is lived on selling prices and is calculated at each stage of production. Taxes affects my new strategy because when Coca Cola makes some profit from selling its products some of the profit made is given to the government.

  1. Unit 2 Investigating business

    we would need to change things so that we would be more likely to get customers. I thought it was essential that we found out where the public thought we should advertise, this way we can find out where it would be best for us to advertise and therefore where

  2. Marketing Research

    them to different treatments * Controlling extraneous variables * Checking whether observed response differences are statistically significant. If the extraneous effects can be controlled/eliminated, the observed effects can be related to the variations in the treatment. e.g. If Jet might introduce in -flight phone service on one of its regular

  1. Applied Business Studies

    * Common in professional practices - some people within the business are practiced in a certain thing. Advantages of Partnership: Easier to raise the capital More owners mean more ideas The partners can specialise in areas that suit their expertise.

  2. Promotional Activities

    Medications, psychological interventions, a strong support network and alternative therapy treatments from cognitive behavioural therapy to improved diet and exercise habits are also very effective in leading to a complete recovery 3. Provide information on services of help available to people suffering from mental health issues to teenagers.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work