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P3 introduction to marketing

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Introduction

Ayaaz Chikhalia P3: Marketing Information Introduction: For this task I have to select one organisation, either McDonalds or Pr�t A Manger and describe the methods used to make marketing decisions based on the behaviour based on the behaviour of the customers, competitors and the market environment. Marketing Research: Marketing research is aimed to help organisations make effective decisions by providing by providing information that can inform the decision making process Source: BTEC National Business, 2nd Edition, Book 1 (c) David Dooley et al 2007 Different Types of Marketing Research: There are two types of marketing research, they are: Primary Research- Carried out to find new information required for a marketing research project, which has never previously been collected. Secondary Research- Makes use of work already carried out by someone else for some other marketing project or other purpose. Source: BTEC National Business, 2nd Edition, Book 1 (c) David Dooley et al 2007 Below are examples of primary research: * Observation- Useful when a topic first needs to be explored, for example how children play with a new toy. ...read more.

Middle

Experimentation: McDonalds have experimented on their "fillet 'O' fish" burgers which usually sell for around �2.30p for one. Since they have released the three burgers for �3.00 it has been selling more. Surveys: In some McDonalds they put a questionnaire in the food tray to fill out after you have eaten the meal. This questionnaire asks about the customer service, cleanliness and food hygiene in the restaurant. This can be used for future improvements of the restaurants. Marketing Information Gained From Marketing Research: The information that's gained from marketing research will inform them about their competitors. Information gained such as planning strategies, pricing strategies and economy. The customers The information from McDonalds when marketing research carried out shows: Competitors: Carrying this type of research McDonalds the financial state of their customers. New Products: McDonalds can trial out new products on their customers considering if they are happy with these new products. Pricing Strategies: McDonalds can survey their customers regarding their pricing if they are too high or just right. Promotions: McDonalds can consider whether their happy meals have the suitable and fun toys or are they lacking in child enjoyment. ...read more.

Conclusion

Through marketing research they will decide if there is any necessary product that needs to be launched if their competitors have launched new product. This will give them information if the competitors' products have been successful or not if they have then they must launch new products. Marketing research will help them analyse consumer's lifestyle for example if consumers are moving towards healthy life style, then obviously they would not prefer fast food which leads to obesity, instead they would prefer place like 'Pasta Hut' which will cause loss to their income. Marketing research will inform them about the current dark economic forecast for example 'Recession' and 'credit crunch' which is the cause of bankrupting Business like 'Woolworth' and many other stores so therefore marketing research can be used to decide if some restaurant needs to be closed if satisfactory profit is not gained and to avoid unnecessary Business expansion that will cause long term financial difficulties. Conclusion: From this assignment I have learned about the marketing research and how organisations use this as a means develop their strategies and products. I have done this to the best of my ability and knowledge. ...read more.

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