• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Market Research.

Extracts from this document...

Introduction

Task 2 - Market Research Marketing (2.1) Marketing involves researching customer requirements in terms of using the four Ps; this combination of factors helps the business sell a product. * Developing and designing a product customers desire, producing the right amount and to the right quality specifications * Using a price that they find acceptable but allows the business to make a profit * Finding out what types of promotional methods attract * Making sure that the product is on sale in places convenient for the customer to buy it Marketing is important to the firm as it helps them get their business to what is wanted and needed by the public, finding out what the public want so both parties are profitable, it also builds communication between the business and the customers. ...read more.

Middle

Secondary Research can also be used for market research, as it is information that already exists and has been created for situations like this. It is cheaper and faster to use this option but it also has disadvantages such as the information may not be completely relevant to the business and only a few parts of the data may be able to be used and this would be a waste of money. The information may also be quite old and so again, not completely relevant. Examples of secondary research are accounts and sales records, government statistics, newspaper articles and the relevant sites on the Internet. Choice and Justification of MR Methods I Will Use (3.1, 3.6) METHOD HOW? WHY? Observation I will visit local businesses in the same market of convenience retailing to observe how they work and what they do to keep customers happy, I will also take note of what I think they are doing badly. ...read more.

Conclusion

notes Relevant marketing and other relevant business studies theory Helps consider judgement on how to market your firm Competitors literature / leaflets Pick up when visiting convenience stores, request details, adverts in newspaper and/or on the internet To look at how competitors work, what they have to offer, what they do good and what they do badly. Estate Agents Look in newspapers for local vacancies To see what properties are available in my local area, to give an idea of property costs and to see if they match requirements and needs Local Authority Write to local council for information about financial assistance for this type of business in the area Find out if Durham County Council provide advisory or financial assistance Visit relevant websites Visit relevant websites which give information on market size and growth etc To gain knowledge on market of chosen type ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. Investigating Market

    Many problems will accrue from a company that does not make profit as they won't be able to put their money into good research and development. For example if the company was to make a loss it is possible to borrow but lenders will look very carefully at the profit potential before lending their funds.

  2. Section 2 - Market Research

    Daily, Weekly, Monthly, Quarterly, Yearly, Other (Please state) ________ Q3. On a scale of 1-5, how important are the following things to you when deciding to purchase from my pharmacy? (1- most important 5-least important) (I have decided to ask this question so that I can see what is most important to my customers)

  1. Market Research

    Qualitative Techniques: This kind of technique requires words. They are often called subjective or judgmental methods, as they rely heavily upon opinions. It also involves actions such as interviews or group discussions or observations. Examples of these are: * Consumer/user survey method: This basically consists of asking customers about their likely purchases.

  2. Market research - The business I have chosen is an internet caf. This is ...

    As you can see South Harrow is heavily populated with my target market. It is fairly easy to access through public transport, there is a bus stop just down the road that has the main busses stop there, these are 140,114,H10 and theH9, these are the main busses that go

  1. Market Research

    In order for consumers to be satisfied with their expectations they need to be able to expect the right product at the right price, with promotion. For this principle to coincide with my strategy I will need to appraise my communication process prudently.

  2. Different types of primary and secondary market research ...

    For web applications ? poor uptimes means users won?t be confident about your product: if they constantly experience issues with your apps?s availability, they will likely look for another solution that isn?t as difficult. E-transaction E-transaction is the third stage of a Web site takes the e-integration stage one step

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work