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

What is marketing research? What is its importance to marketing management? What are some of the more common sources of information used by marketing? Explain also what is meant by the marketing information system and by consumer behaviour.

Extracts from this document...

Introduction

What is marketing research? What is its importance to marketing management? What are some of the more common sources of information used by marketing? Explain also what is meant by the marketing information system and by consumer behaviour. Marketing Research Marketing research is the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing by a company. Marketing uses research when it needs information about a specific situation, as marketing intelligence will not provide the detailed information needed. A company can conduct its own marketing research or it can use an outside agency for some or all of the research, depending on its research skills and resources. Marketing research includes a wide variety of activities, such as: Market potential studies Market share studies Customer satisfaction assessment Purchase behaviour studies Marketing mix studies Importance To Marketing Decisions The marketing research helps marketing management in two aspects: information analysis and distributing information. Information analysis: Information gathered by research usually requires more analysis. It helps managers to solve marketing problems and decisions by using those marketing research. It also helps managers answer questions like 'what if' and 'which is best', questions related to the different elements in the marketing mix, and to make marketing forecast. ...read more.

Middle

In order to establish a good image and seek for survival in this ever-changing business environment. The final goal is to achieve for the long-run profit. By doing so, we need to define the problem and research objectives, develop the research plan, determine specific information needs, implement of the research plan and interpreting and reporting the findings. Of course, there will be a recommendation for the management after the implementation of the research plan. 2.1 Company Background Vitaland Services Limited is the wholly owned subsidiary of Vitasoy International Holding Limited. It has been providing friendly, convenient and efficient tuck shop service to Hong Kong schools since being established in 1991. Vitaland's more than 200 Hong Kong schools' tuck shops are now serving more than 100,000 students and teachers. Traditional, family-operated school tuck shop operations have been well-described as lacking consistent standards of service. Vitaland is the first organization to transform tuck shop operations to systematic chainstores with professional management. Vitaland has established many systems and procedures to manage tuck shops effectively, systems and procedures for; staff training, product sourcing, product development, product variety, food hygiene, shop equipment and business management. 3.1 Forming The Working Groups The cross-functional team is formed for this project to study the consuming behaviour of students. ...read more.

Conclusion

Average spending of Secondary schools' students in Tuckshop is 9.3 per day (including the lunch) 3. Average spending of female is more than male. Average spending of female of Primary schools' students is $5.3 per day. Average spending of male of Primary schools' students is $3.8 per day. Average spending of female of Secondary schools' students is $11.2 per day. Average spending of male of Secondary schools' students is $8.6. 4. Students studied in Band 3 schools would spend 3.1% more than Band 2 and band 1 school. Students studied in Band 2 schools would spend 1.94% than Band 1 schools. 5. The location of school in the place like Middle Level would spend 2.53% more than the high population density place and low population density place. 8.1 Recommendations Base on the findings, the price-setting can according to the demographic factor. STOPPOS also suggests introducing more food products to the high consuming group. The band 3 school and female in Secondary school would be the target group. Moreover, STOPPOS suggests forming a focus group to develop the new products. Some of the students will be invited in this focus group to understand more about their taste. STOPPOS has reviewed for this project. It found that the research can be useful to understand on the consuming behaviour of the students. However, it may not be detailed enough. STOPPOS suggests joining the external consultation firm to conduct the marketing research next time. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Marketing 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 University Degree Marketing essays

  1. Dairy Milks current marketing strategy

    This was Cadburys first product, which was able to create the brand name of Cadbury. In the confectionary market a business will face competition from a wide range of other firms competing in the same market with similar, but differentiated products.

  2. Chapter Notes on Marketing Management by Philip Kotler 10th Edition

    The dissatisfied customer may stop buying (exit option) or the customer may be tell his friends not to buy the product (voice option) Post purchase use and disposal: Marketers need to monitor what the consumer does with the product after purchase and how it is disposed off to maintain environmental friendliness of the product.

  1. Discuss the following statement: "Quantitative research is more important than qualitative research because it ...

    To achieve a high level of customers' satisfaction, the marketers need to be aware of the expectation of its customers and to define the way to satisfy them. Firstly, the marketers can use qualitative and quantitative researches to find out internal and external customers' satisfaction.

  2. Persil and marketing

    Persil products. Persil produces high quality products that it is regarded as a brand name in the country Persil is a range of three products namely Persil performance, Persil non-biological and Persil colour care. They also come in different forms namely liquid, powder and tablets.

  1. Selfriges Marketing Analysis and Strategy

    - Post market research and sales analysis to evaluate the efficiency and acceptance of new products and online system by customers by March 2012. - Conduct changes/adaptations on products and online system where necessary by May 2012. Promotion Promote new line of products and online system on UK mass media

  2. International Marketing Report for Pinkberry. This International Marketing Report establishes the plan for ...

    * Competitors Low Possible over-investment * Simple menu * Sweetness and consistency of yogurt resembles and appears to look like ice-cream * Operations * Supply chain Low Priority * Perception of a high priced product by customers * Frequent occurrence of long queues Probability of Success High Low Attractiveness High

  1. Analysis of Pizza Hut's Marketing Strategy in Roumania.

    The salesforce evaluation process The purpose of evaluation. The prime reason for evaluation is to attempt to attain company objectives. By measuring actual performance against objectives, shortfalls can be identified and appropriate action taken to improve performance. However, evaluation has other benefits. Evaluation can help improve an individual?s motivation and skills.

  2. A Marketing Research on Etihad Airways

    and the subsequent increase of Abu Dhabi International Airport capacity to handle upwards of 50 million passengers annually. Etihad needs to take advantage of this opportunity by understanding what the customers need and meeting these needs. Etihad is expanding its global contact centre organization, holiday, and cargo businesses to take advantage of its customers growing needs.

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