Market Research. I have chosen to compile a questionnaire and distribute it within the Newton-le-Willows area, as this is where I intend to establish my Day-time Nursery.

Authors Avatar

Rebecca O’Brien

Task 2

Before I begin my business venture I need to discover if there is a demand for my service and what my target market is. I can obtain the important information by conducting some market research. Market research is the collecting, recording and analysing of information about the demand or possible popularity of a business, product or service. There are two branches of market research, these being field and desk research.

Field research is when you go out personally and collect the information relevant to your service/business/product. This could be in the form of a random questionnaire or door-to-door visits. This way you personally find out whether your business would be popular locally and if so, what people would expect from it.

Desk research is when you look through textbooks or existing documentation to gather your information. It is also looking at other competition on the market as you can use other business’s findings to influence your decisions.

I have decided to use field research as it is easier to do and will give me more accurate information for my own individual. There are many different ways I can conduct field research, but I have chosen to compile a questionnaire and distribute it within the Newton-le-Willows area, as this is where I intend to establish my Day-time Nursery.

I will design my own questionnaire therefore I will gain the appropriate information. If I were to use a questionnaire already prepared and used by another company or person, this information may not be precise enough for my own queries. I will use a combination of open and closed questions, as open questions will give the public the chance to express their own individual opinions and closed questions will give them a selection of answers, from which I can determine which is most popular. I have compiled a “dummy run” questionnaire, which is overleaf.

“Dummy Run” Questionnaire

  1. Which age group are you included in?

16-20 [  ]        21-30         [  ]                31-40 [  ]                41+

Join now!

  1. What is your approximate annual income?

Below £10,000 [  ]        £10,000-£20,000 [  ]        £20,000-£30,000        [  ]        £30,000+ [  ]

  1. What is your marital status?

Single [  ]        Married [  ]                Divorced [  ]        Widowed/Widower[  ]

  1. What is your postal code?

……………………………………

  1. Do you work full time?

Yes [  ]                No [  ]

If yes, how many hours per week? …………

  1. How many days a week would you require the services of a Daytime nursery?

1 [  ]         2 [  ]                3 [  ]                4 [  ]                5 & above [  ]

  1. How many hours each day?

1-3 [ ...

This is a preview of the whole essay