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

To conclude Errol has many types of marketing research available to him giving him a lot of information which will greatly help him and his business

Extracts from this document...

Introduction

Task Sheet 2. Market research is used by businesses to find out the needs their customers have and the way they can improve their service or product so that it suits the needs of the customers. There are many ways to do this firstly there is something called primary research that is when the company it self sends out people to ask the general public questions to see how their service can be improved and what changes need to be made in what area. This is done in a number of ways such as the form of a questionnaire a one on one session. How ever before the company can actually go out and get first hand information the company decides what kind of questions they are going to ask if it is a questionnaire for example. They call this a sample this means it has a specific area that the company wants to target and that is the way the questionnaire will be formatted according to the sample in mind. There is also another way of market research this type is called secondary research this is a more simple and easier way to get information it is also cheaper as in secondary research companies take research already done by others and use that data to help them improve services based on the information they get from third parties this is also a cheaper way to research than primary research. There is an extensive range of ways to obtain the information Errol wants. There are two methods which can be used in market research; primary and secondary research. Both methods involve many different ways of gathering information each meeting a different objective of market research for example the internet might find out about competition while surveys might find out about customers. Primary Research Primary research is defined as the research where information is collected first hand or directly. ...read more.

Middle

This brings me on to my next point which is that Errol doesn't have to choose different questions to ask each individual; everyone is asked the same question so Errol won't have to think of different question for each questionnaire he makes. Lastly, another advantage for Errol with using questionnaires is that if the participant is used to face to face or over the phone, the two way communication help to make sure the respondent understands the questions fully. Disadvantages: However, as well as advantages there are also the same amount of disadvantages with using questionnaires. Firstly, the questions that Errol decides to include, may be brief and impersonal and may not be related to the purpose of making questionnaires (market research). Therefore, Errol will have to think carefully to ask the correct type of questions, otherwise he will be at a financial lost as he will have wasted money on producing questionnaires which are in no way related to his objective of finding out about his market and competition. Secondly, Errol may not get back a full 100% response as there is a low return rate for postal and newspaper questionnaires. There are 2 possible reasons as to why this is. Firstly the participant may not bother at all to fill out the questionnaire or might not even look at it thinking it is junk mail and put it in the bin. Secondly, the participants may fill out the questionnaire; however they may forget to post it back to Errol. A third disadvantage of using questionnaires is the fact that it is quite time consuming as well as expensive. Errol needs to be sure he has asked the most appropriate and on targeted questions in the questionnaire so at the end of the day all the money and time used, pays of and was not simply just a waste of time. Lastly, Errol should choose exactly which type of questions he will include in his questionnaires. ...read more.

Conclusion

Another problem derived from this is there is a low postal return rate for surveys as people are not gaining anything by posting surveys back. Errol could give gifts to people who return them but as he doesn't have much money he wouldn't be able to afford that; he could offer a raffle where every one who sends the survey back is entered this is a cheaper way to boost replies. Financially handing out surveys will cost Errol a lot and it will take up a lot of time to analyse. This is the biggest drawbacks of surveys as there are very few things that can be done to minimize costs and save time. Some things that can help include using ICT to process the information shortening the time taken and to cut costs Errol could send his questioners through e-mail and hand them out on the street instead of using the phone or newspaper as these cost more money. Surveys are also normally brief and impersonal but the way around this would be to add more open questions however this would then put people of completing the survey. Errol could improve his survey by using a variation of closed and open questions to get developed opinions from the open questions while still keeping peoples attention and making it easier to analyse from closed questions. To conclude Errol has many types of marketing research available to him giving him a lot of information which will greatly help him and his business. To maximize its use Errol should use both primary and secondary research techniques improving the techniques to tailor his needs and limitations. Surveys would help answer his questions but will cost him money and will take up time while internet might not be able to answer his specific questions but will not take up as much money and time. If Errol uses both techniques he can get a range of information allowing him to achieve his market research objectives relatively quickly while not using up a lot of money. ?? ?? ?? ?? Bharat Patel 11N ...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. For this project I have been instructed to come up with a marketing strategy ...

    Nokia's marketing mix has worked very well until recently as the market they are aiming at has become more and more saturated and after looking at all the mobile phone sales figures, it looks as if the phone companies can aim at this same youth market for about another 2

  2. My business will sell gym/combat sports equipmentBefore I start my business I will need ...

    I didn't consider setting up and running the business solo (on my own) due to the fact my business was going to large to run on my own. Also I wouldn't have been organized on my own so that's the main reason why I didn't choose to set up the business as a sole trader.

  1. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    make potential customers aware of it and will get the car in their minds. As you would expect from a company with a large marketing budget and they also promote through product brochures and on their website. The A6 may also get promoted at special car shows such as the Geneva Motor show where it was unveiled to the public.

  2. Marketing Plan for the Targe' Full Service Spa Salon

    functions that must occur from the inception to the finished service must be clearly identified. In order to facilitate a salon there must be equipmnent, supplies and employees that will deliver the services. There are equipment and product needs involved in order to execute the business of the salon.

  1. market research

    ....................................................................................................... This question will help me to see what foods are most important to customers. 7. Why would you use the caf�? ........................................................................................................ This will show me the why they use caf� the caf�, and to tell me what most people use them for.

  2. This report will focus on the adult palliative care provided by SAH proposing a ...

    This report will also consider the inter-relationship between the publics when proposing a strategy. Publics Key Public's Relationship to SAH Input Publics Input Publics will supply original resources into St Ann's for example financial resources coming from donors. Internal Publics All the Internal Publics highlighted must be considered with regards to the implementation of any potential strategy.

  1. The purpose of this report is to explain the four steps of the marketing ...

    It is an efficient, cost-effective management tool that gets marketers close to the consumer, customer and public through the relevant, accurate, reliable, valid and current information. The most common researches are measurement of market potential, market share, long-range forecasting and so forth (Kotler, Brown, Adam and Armstrong, 2004).

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

    Focus groups: Groups of potential customers are brought together to discuss their feelings about a product or market. Focus groups are a good way of getting detailed information about customer tastes and preferences. Panels: A marketing research panel is a reliable source of primary marketing research information.

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