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

    Buyers: People who have formal authority to select the supplier and arrange the purchase terms. Gatekeepers: People who have the power to prevent sellers or information from reaching the buying center. When a buying center includes many participants the business marketer will not have the time or resources to reach all of them.

  2. Dairy Milks current marketing strategy

    Dairy Milk has managed to remain at this stage with sale promotion techniques, such as their special offers and discounts. Stage 4 - Saturation and Decline This stage is typified by declining sales and low profits. Even price cuts and advertising are not enough to tempt the consumer into purchasing.

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

    (Zikmund, 2003) For example, they can spend their investment on advertisements such as showroom, poster, and media advertising, which help to increase customers' motivation to purchases their products or services. Also, a necessary training for employees and supporting information to meet customers' expectation can improve customers' satisfaction as well.

  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

    - Conduct initial design of the shop that will display the new products by May 2011. - Conduct tests on delivery to check efficiency by June 2011. - Implement new design of the shop by August 2011. People Allocate staff with suitable skills and capabilities to carry out daily tasks

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

    vs. organization (US) These differences have implications for marketing campaigns and the menu. Technological 15. Developments of social networking sites such as Facebook and Twitter have key implications for marketing and social CRM Facebook and Twitter offer free and effective opportunities for advertising and social CRM so Pinkberry must ensure it makes the most of it.

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

    ? Why everyone works in a different ways? ? Why aren't they more motivated? ? Do they make effective use of their time? ? Are they satisfied/comfortable or do they want more? ? Are they value sellers or transactional sellers?

  2. A Marketing Research on Etihad Airways

    Etihad is not a member of any global alliances, preferring affiliate and bilateral relationships with other airlines. These relationships, either codeshare or special prorate agreements help to increase and enhance the network it can offer to its customers. These agreements also work in reverse enabling partners' access to Etihad's vast network.

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