Section 3
Market research is finding out as much information about your market as you can, from as many sources as possible.
To a firm market research is: -
* Collecting information from its own records.
* Collecting information about competitor firms.
* Collecting information about the market in general.
* Collecting information about consumers.
Bringing all this information together in order to make marketing decisions.
This data can be divided into two sections primary and secondary data.
Primary data is data, which is gathered freshly by you or o9ne of your employees. There are several ways to collect primary data,
Face to face: - this is the oldest but still most widely used form of collecting data. An interviewer, with a printed sheet of prepared questions, approaches a member of public in order to carry out a street interview. This is generally used to collect quantitative data.
One on one: -these differ from face to face interviews in that the interviewer is not using a questionnaire, instead a series of questions is asked in order to obtain in depth reactions to a product or service. Instead of in the street, these interviews will take place in the comfortable surroundings of an office or home environment, because of the time taken and the inconvenience of the respondent it is likely they will be rewarded in some way, they maybe directly paid for their time or offered discounts or vouchers.
Telephone: - this involves telephoning people and asking them a series of questions. This is not as effective as many of the other methods as people are less likely to want to answer.
Section 5 Chocolate and the marketing mix
A brand name is sometimes the name of a firm, such as mars, but is usually an invented name, such as Kit Kat or Twix.
More and more goods are now being sold under brand names. Big manufacturers have found that a brand name helps to sell their products. Instead of asking for chocolate people will ask for Mars. Instead of asking for dark chocolate people will ask for Bournville this differentiation helps manufacturers to keep or increase their share of the market, or to break into a new one.
Market research is finding out as much information about your market as you can, from as many sources as possible.
To a firm market research is: -
* Collecting information from its own records.
* Collecting information about competitor firms.
* Collecting information about the market in general.
* Collecting information about consumers.
Bringing all this information together in order to make marketing decisions.
This data can be divided into two sections primary and secondary data.
Primary data is data, which is gathered freshly by you or o9ne of your employees. There are several ways to collect primary data,
Face to face: - this is the oldest but still most widely used form of collecting data. An interviewer, with a printed sheet of prepared questions, approaches a member of public in order to carry out a street interview. This is generally used to collect quantitative data.
One on one: -these differ from face to face interviews in that the interviewer is not using a questionnaire, instead a series of questions is asked in order to obtain in depth reactions to a product or service. Instead of in the street, these interviews will take place in the comfortable surroundings of an office or home environment, because of the time taken and the inconvenience of the respondent it is likely they will be rewarded in some way, they maybe directly paid for their time or offered discounts or vouchers.
Telephone: - this involves telephoning people and asking them a series of questions. This is not as effective as many of the other methods as people are less likely to want to answer.
Section 5 Chocolate and the marketing mix
A brand name is sometimes the name of a firm, such as mars, but is usually an invented name, such as Kit Kat or Twix.
More and more goods are now being sold under brand names. Big manufacturers have found that a brand name helps to sell their products. Instead of asking for chocolate people will ask for Mars. Instead of asking for dark chocolate people will ask for Bournville this differentiation helps manufacturers to keep or increase their share of the market, or to break into a new one.
