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Market Research - Carphone Warehouse

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Introduction

Market Research. State one I am going to consider the Strengths and weaknesses of The Carphone Warehouse in order to highlight the affect of marketing, enterprise and teamwork on the aims and objectives. Stage Two To make an informed decision on the value of the information, I must first consider the advantages and disadvantages of carrying out market research. Advantages: There are many advantages of carrying out market research. Firstly it reduces the risk for the business. Although market research cannot be 100% reliable, it does reduce the risk, for example, of a new product line being unsuccessful. The Carphone Warehouse would first carry out market research in the geographical area where they are planning to place their new product, keeping in mind the pricing strategies, i.e. what a customer is willing to pay, and following their market research with a suitable promotion scheme which will aid them in their attempt to meet aims and objectives. Market Research also gives the business a link with the outside world and allows them to consider external stakeholders in greater detail. Without the use of market research businesses would have little or no way of finding out customer views, which means the business cannot maximise their potential in their particular market. This will also allow them to keep up with, or keep ahead of competition This demonstrates why a large business needs to constantly carry out market research in order to achieve their aims and objectives. For a business to take full advantage of a growing market, or new market, it is important that they carry out Market Research. This links in with the need to constantly carry out market research as the market is increasingly dynamic. Taking advantage of a growing, or new market may help The Carphone Warehouse achieve its aims and objectives. The image of the business is very important to the success of a business. Carrying out market research can aid The Carphone Warehouse increase customer satisfaction and thereby helping their image. ...read more.

Middle

I have designed the questionnaire in order to get as many customers to fill them in and send them back as possible. I understand that most people won't spend their time filling in questions without being offered anything in return - for this very reason, if I was an employee of CPW, I would offer a 5% discount on any product to capture their attention. Bellow is a discussion on each question in the questionnaire. I have chosen to produce a questionnaire and post it on the internet. This will allow the greatest number of people to respond as it is open to the entire country. In designing the questionnaire it I will constantly make reference to The Carphone Warehouse's Aims and Objectives. This is a personal question but it will allow me as the market researcher to segment the respondents on the basis of sex. This allows me to segment the respondents into age ranges, which will help me come to conclusions with the rest of the questions. This is a closed question meaning it has a limited response. It is an important opening question because The Carphone Warehouse are a mobile phone company. If the respondent doesn't have a mobile phone they should seek to find out why. This is an open question. It allows the respondent to give their views and opinions. It is good to have a balance of both open and closed questions. This question will give me information about why they don't own a mobile phone which may increase The Carphone Warehouse's customer base if they can reach out to these people who don't own mobile phones. This will allow me to identify how many people who own mobile phones have even bought from The Carphone Warehouse at some point. If they haven't it will demonstrate weakness in the business which may affect their ability to achieve aims and objectives. ...read more.

Conclusion

This will help them to increase market share and customer base. * Aging population The UK has an aging population; this means there are more old people now in ratio to other age groups. The Sons and daughters of these 60+ citizens want to keep in constant contact with there parents as they are older and need attention. The children of this age group do this by getting their elderly parents mobile phones. The Carphone warehouse can close in on this growing market by selling cheap simple handsets. This will help The Carphone Warehouse to increase their customer base and market share. * Advancing Mobile phone technology Mobile phone technology has evolved rapidly. First they were only for talking on the phone, then texting, then MMS (multimedia messaging) and now 3G. 3G allows people to send more data to each other and allows people to network. The Carphone Warehouse can take advantage of this and phones with these advanced technologies and charge higher prices for these products. This will increase their profit which will help them achieve their aims and objectives. Threats Threats are external negative effects on the business. There are many treats to the business, some include: * New Competition. The Carphone Warehouse are under threat of other businesses advancing above them and splintering their market share by taking customers away from them. This will affect their ability to achieve their aims and objectives because if they customer base goes down their profit will go down which will then affect all other aims and objectives. * Customer Pressure If customers are putting pressure on The Carphone Warehouse to change, they will have to invest more profit into meeting their needs which may stop them from achieving other aims and objectives. * Market shrinkage. If demand for Mobile phones goes down they the market will shrink. This is a major threat because it will be hard to achieve good profit if demand for their products goes down. This will affect all their aims and objectives. ...read more.

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