Data cannot be collected from every individual within a market or segment, it would be too expensive and time consuming, and therefore I will take a sample of the target population (potential customers) using the random sampling method. This would mean that each person would get as much chance of getting picked as the next.
From my research, I hope to find out whether launching a web designing software is a good idea or not. I will analyse my results according to price, place product and promotion. This would give me a clear description to how successful my product would be if I were to launch it. This will also help me decide if I should change my idea of launching a web designing software to something else.
To carry out my research, I asked random people on the streets that were interested in purchasing a web designing software. I let them fill the questionnaires in themselves.
I asked for their gender and age because I wanted to find out what my typical customer is. The income question was to see which socio-economic group they are in. these are my results.
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Questionnaire 1
1. Gender? Male Female
2. Age? 16-25 26-35
36-45 46+
3. What is the income -£10k £10k-30k
You get annually?
£30k-50k £50k+
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Result Table For Questionnaire 1
Graphs For Questionnaire 1
The purpose of asking these questions is to find out as much information as possible about the target market. These help me decide on price, product, promotion and place for my product to be launched.
I asked whether my product to be launched would satisfy their ‘want’ for this product. I asked, in the questionnaire, where they last saw an advert for a similar product to mine to help me decide on promotion methods. I also asked, where they would go to purchase my product to help me decide on place. I asked about how much they would expect it to cost to give me an idea on price. These are the results from my questionnaire.
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Questionnaire 2
- Specific product/consumer related features
- Would a web designing Yes No
software satisfy your ‘want’
for this type of product?
- Where did you last see Newspapers T.V
an advert to a similar product?
Poster Bus
- Where would you go to Computer Specialist Shops
Purchase this product?
Newsagents £Store
- How much would you £5-10 £10-15
expect it to cost?
£15-20 £20-25
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Results Table For Questionnaire 2
Graphs For Questionnaire 2
Analysis
The results from my questionnaires can be analysed to state what the results show. As you can clearly see from my results from questionnaire 1, my typical customer is a male, 16 to 25 years old who earns around £10,000 to £30,000 a year. Socio-economic group B.
Questionnaire 2 is more about my product rather than my potential customer. However, the results can still be analysed in the same way. The results table for questionnaire 2 shows 100% of the random people I had asked said that the web designing software that I am to market would satisfy their ‘want’ for this type of product. Nearly everybody had seen an advert for this type of product, such as Dreamweaver 4, in newspapers. This makes it a good advertisement place for promotion. Everybody would expect my product to be found in computer specialist shops. My pricing strategy should be kept to a minimum because 70% of the people I had asked would be prepared to pay around £5 to £10 for my product. 20% plans to pay up to £15 and 10% may even pay up to £20. This gives me the option to differentiate my product according to price.
Marketing mix
Using the information I have gathered from both questionnaires and other sources, I will now evaluate and decide upon specific marketing strategies to launch my new product. In particular, I will focus upon the marketing mix, the 4 P’s (Product, Promotion, Place and Price).
Product
My product will satisfy the ‘want’ of peoples desire to have a web designing software to design and customise their own web page/site. With more and more people/businesses going online this is a perfect time to launch my product. I have decided to call my product ‘Webcraft’. This has come from a lot of thought. I had to think of a name relating to construction, linked to the World Wide Web, and most of all, something original. I also think that this name in particular is ‘catchy’.
I intend to differentiate my product according to the price. Such as, the software alone can be bought for £10. However, if bought with the ‘Webcraft users guide’, the price will be £16. Customers will think £6 extra is not too much to pay for a step-by-step guide to the package. At the same time, I am keeping to the specification set by questionnaire 2 (see analysis) and making a profit a t the same time.
With my product, customers can add some life into their existing/new web page. There are many different link button styles to choose from, such as a revolving star when the curser is on top of the button. It will be much easier to make flash texts. Images can be uploaded onto the page straight from the Internet, the hard drive, or floppy/CD instantly. Live videos from the users own web cam can be broadcasted over the Internet via the web site. There are also many more features that are added to the Webcraft software. All of these features help make it easy for the customer to use and appreciate the products properties. I had to also make my product more superior than other similar products, such as Dreamweaver. This is because my customers must think that Webcraft is a high-quality product and a more advance software than the other competitors so my sales would be boosted.
I needed to conduct research to find out what customers wanted. This is because if I had just made a product and tried to sell it, the risk of failure would have increased by an immense proportion.
Due to the product being still at the launch stage, I need to promote it to make customers aware of the new product, this is also linked to ‘promotion’.
