• 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...


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.


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.


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

    Today the company's values remain the same, as does the group's commitment to quality, service and products. A unique heritage rooted from the 19th century has carried Moss Bros forward with great success through to the 20th century and now in the 21st century underpins the legacy of Moses Moses

  2. Section 2 - Market Research

    What is your age group? (I have decided to ask this question so I know the age groups which will be visiting my pharmacy) 5-10, 10-13, 14-21, 22-35, 36-45, 46-55, Over 55 Q5. What time of day would you prefer coming to my pharmacy? (I have decided to ask this question so that I have an idea of what time my pharmacy should be open)

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

    2ND Location The other place that I might locate my business is Central Harrow. In Central Harrow there is no competition and is more populated with my target market at peak hours. Age structure For my target market In Central Harrow 0-4 628 5-7 324 8-9 222 10-14 519 15

  2. Market Research

    Co-ordinating marketing functions to achieve marketing aims This principle involves using a business strategy to achieve marketing objectives. A business strategy is a general overview that involves the creation of clear aims and objectives and then deciding the key means to achieve these.

  1. Market Research

    Field Research: This involves the collection of PRIMARY DATA, which are information no one has collected yet. It is collected specially for the particular piece of research. Primary data is collected through direct investigation, usually through observation, survey or experiment.

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

    Also, it is often cheaper and generally quicker than creating your own research from scratch. The negatives, the other side of that coin is that you have neither picked the panel to suit your exact needs nor the questions. It is possible that you can find some research somewhere that

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