Market Research for Subway sandwich shop

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Subway MARKET Research

Task 3

 

Primary Research

         Primary Market Research - Involves collecting information to meet your specific needs (Field Research).

        Primary Research can be:

Qualitative: Gathering descriptive information, usually representing verbal or narrative data through open-ended interviews or focus groups.

        Open-ended interviews are involved around leading questions. An interview likes this gives you lots of information, but it’s time consuming for both you and interviewee. Benefits are that you will learn a lot about the groups your studying and common trends, emotional motivators, and general likes and dislikes of your primary market.

        Focus groups is a group discussion lead by a professional who ask questions about e.g. a product to gain their view and likes/dislikes.

Quantitative: Gathering numerical information that can be analysed statistically through surveys.

        Surveys take longer to develop, but are easier to administer than other types of market research. Also since they take less time to complete, people are usually more willing to complete them.

 

Subway Primary Research

Pie Chart sourced from - http://www.slideshare.net/Akihosugitatsu/subway-marketing-plan

Primary Research

Primary Research (also known as field research) is the act of collecting original primary data. Primary Research can be accomplished through various methods, including questionnaires which consist of asking questions to gain insight and information. This cheap, simple type of research is very useful to businesses when they want to find out if customers are happy with a product or what they look for in their products.

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Subway uses this kind of Primary Research to find out “what is important for lunch?” and “How much do you spend on lunch in average?” This gives Subway an insight on what customers are looking for in lunch and how much they would be willing to spend. By doing this Subway will be able to vary on the price of their sandwiches to gain more customers because not everyone is willing to pay a certain price for a sandwich therefore they make cheaper to more expensive sandwiches to vary on customers. This kind of market research is appropriate for ...

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