• 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 can now be seen in the market, with other products from other manufactures such as Mars, who have the product Galaxy. This is also another milk chocolate bar, which was able to differentiate itself from Cadburys Dairy Milk. In order for Cadbury to continue to differentiate Dairy Milk it must promote Dairy Milk more.

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

    the demand for plant and equipment necessary to produce that additional output. Professional purchasing- Business goods are purchased by trained purchasing agents who must follow purchasing policies, constraints and requirements, for example, requests for quotations, proposals and purchase contracts. Several buying influences- More people influence buying decisions.

  1. 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.

  2. Cartier (Hong Kong) Limited - case study.

    For example, ongoing customer research could filter down into the design of a successful new line of spectacle frame, which becomes the season's new trend - the more research and resources that are directed at understanding customer preferences and style, the greater the chance of achieving increasing revenues and therefore market share.

  1. Marketing Plan for Vitaminwater in Hong Kong

    Nature of buying process: Low involvement. We would like to make people buy Vitaminwater routinely like an 'on-the-go' purchase, without involving a detailed problem -solving procedure. (4) Who makes the decision: End users themselves, i.e. white collars. Competitors Vitaminwater is a kind of enhanced water beverage.

  2. Car Market and Buying Behavior- A study of Consumer Perception

    The campaign jointly made by Skoda's marketing department and ad agency IB&W not only communicates the quality of the brand but an appreciation for the finer things in life. The target Skoda consumer is a SEC A1, primarily male, businessman or someone in the senior management," says Shashank vaid, manger (marketing), Skoda Auto India.

  1. What are the key factors and subfactors that influence consumer behaviour? Discuss how these ...

    Secondly, knowing what products appeal to which social classes can help to determine where is best to distribute their products. Social Factor Most consumers will usually seek out opinion of others to reduce their effort on searching and evaluating on the product they are looking for.

  2. The Body Shop.

    The Green Tea line has an elastic demand since it has similar competing products in other brand names such as Elizabeth Arden, H2O, The Healing Garden etc. There are also other substitutes for this skin and body care line in different fragrances even within just the company itself.

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