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

Types of Market Research.

Extracts from this document...


Priya Thakrar 11B Controlled Assessment A Investigation 1 Market research is when a business analyses their potential market, by observing what customers are buying. This is important for Tom, as he can see if there is a demand for a business offering catering, and entertainment, and therefore see if his business will be successful. There are two types of research Tom could use. Firstly product orientated research is when a business idea already exists, and research is used to find out who to sell it to. Secondly market orientated research is when research is done beforehand and then the business idea is developed. Therefore the business can produce what consumers want. Most of Tom?s questionnaire is market orientated research. For example question four of his questionnaire, where Tom asks what type of entertainment consumers want. He does not assume that the public would want for instance music for entertainment, he gives consumers a choice. However question one of his questionnaire could be product orientated research, because he is only giving consumers one option to choose from. ...read more.


For example if most people want sandwiches for their type of food, then he could offer sandwiches in his business. Disadvantages of surveys or questionnaires are that some questions may be closed and force consumers into a fixed response. As some options given in Tom?s questionnaire may not be what the customer wants to answer. This can lead to incorrect data which is bad, because the business may not offer what the consumer wants. For example question two in Tom?s survey asks what types of food the customer would want the party. However he doesn?t include hot foods or drinks as an option, and consumer might want to choose these types of food. On the other had with closed questions it is easier to analyse results, and draw graphs. Sampling is when you ask or choose people to do research on. A type of sampling Tom could use is random sampling. Random sampling means that everyone has an equal chance of being picket. This may not suitable for Tom, because it means he may ask people not relevant to his business. ...read more.


Therefore later on he can try and have a price that is affordable. Finally I would recommend that in Tom?s secondary research he should find out about his competitors; how they differ from him, and the price of their service. Tom should aim to price his service less then his competitors, if they do exactly the same thing. As if he doesn?t customers will buy of his competitors rather then his business meaning he loses sales. Next Tom would need to research on the income of the area he wants to set up his business in. If a lot of people in this area are unemployed or in a low socioeconomic group then they won?t be able to afford parties, so Tom won?t get as many customers. Therefore if this is true Tom should consider offering his business in a richer area so he gets more customers. Also Tom should do a SWOT analysis of his business. This where the strengths weaknesses, opportunities and threats are looked at. Therefore Tom would be able to see whats good about his business, what needs improving, opportunities he can take advantage of, and problems he may face in the future. By doing this Tom can increase his chances of his business succeeding. ...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. Promotional campaign for Pizza Pan foods in Malaysia

    relevant hours of operation and pricing.Information will be spread regarding the latest styles through flerys,local newpapers and advrtisements For instance,company hires someone to help out in passing the fyers in the neighbourhood .The flyer would also contain menu, phone number and website URL.

  2. Investigating Market

    As many businesses fold because the people running them eventually feel they are not making enough profit to cover the achievements they are making and the risks they are taking. The survival of a business depends on whether enough profit is being made in order to continue with that business idea.

  1. Market Research

    If secondary data don't provide enough information to satisfy the research objections, primary data must then be collected. In this section, primary data collection methods are considered under these headings: * Survey Research: This is concerned with the use of questionnaires, and is the most common method of collecting primary data for marketing decisions.

  2. Market Research

    Marketing communications involves providing information, through a variety of media, about a product to target audiences of consumers in an attempt to influence their buying decisions. The promotional mix comprises all the marketing and promotional communication methods used to achieve the promotional objectives.

  1. Plannng and research. I would like to open a African restaurant, food from all ...

    I will visit restaurants in your area and analyze the d�cor, watch the diners whether they react positively to the d�cor or not. Are it comfortable, or are people shifting in their seats throughout their meals. I will note what works well and what doesn't.

  2. market research

    The questions then go into more detail. Questionnaire 1. Have you ever been to a caf�? Yes..... No...... I asked this question to know if the information this person has is useful or not. 2. What do you look for in a caf�? ............................................................................................................................................................................................................ I asked this to get a general idea of what is important to this person.

  1. 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.

  2. Marketing research - To decide which products and services will be available in my ...

    offers of free samples and loyalty cards, I came to this conclusion because over half my target market wanted these offers available at my salon. As part of my research I conducted an interview with Parul Sayania, who is the owner of a similar business in Leeds.

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