• 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 is when a product is given an identity of its own. Cadburys has been very successful in being able to create a brand name for itself. This enables the company to help sell its product, like that of Cadburys Dairy Milk.

  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

    17% students 27%FT 28%PT 45% rent home Conurbations 54% ABC1 36% C1 Hoxton 2 Male 25-35 30% single 78%FT 20%PT 40% rent home Urban areas, London and Manchester 53% ABC1 Hoxton 1 Male 15-25 87% single 33% students 24% FT 50% rent home Major urban areas, London and Midlands 51%

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

    Dissonance reducing buying behavior - consumer is highly involved in a purchase but sees little difference in brands. Marketing communication should supply beliefs and evaluations that help the consumer feel good about his/her brand choice. Habitual buying behavior - bought under conditions of low involvement and absence of significant brand differences.

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

    Nowadays, social CRM means companies must build an online presence and identity to boost customer engagement with the brand. It has become imperative to send out timely promotional messages to stay connected to customers. 16. Recent rise in smart phones means that the public is constantly connected to their e-mails and social networking accounts.

  2. The Body Shop.

    The website allows customers to purchase online, sign for e-mail updates about the online store, new product information, e-mail newsletters plus The Body Shop catalogue. Website themes include interactivist, body-zine, makeover and well being. The website is intended to draw the customers closer to the company.

  1. Describing the principals of marketing and explaining how they are relevant to my strategy, ...

    Customers at John Cadbury's shop were amongst the leading prosperous families of Birmingham who were the only ones who could afford to buy cocoa and chocolate in those days. In John Cadbury's days most of the cocoa beans were imported from South and Central America and the West Indies, while

  2. Boost Blobal marketing assignment. This report aims to analyse the market in India for ...

    India is the world's largest democracy, it is run under a multi party system that consists of the Indian National Congress (INC), Bharatiya Janata Party (BJP) and regional parties also exist, the Indian national congress is currently in power. It is important for Boost Juice and any international entity to

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