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Marketing Research

Extracts from this document...

Introduction

Marketing Research A market occurs when buyers and sellers come together to trade. Marketing is about meeting the needs and wants of customers. Marketing is a business wide function - it is not something that operates alone from other business activities. Marketing is about understanding customers and finding ways to provide products or services which customers demand. Marketing activities are numerous and varied because they basically include everything needed to get a product off the drawing board and into the hands of the customer. The broad field of marketing includes activities such as: * Designing the product so it will be desirable to customers by using tools such as marketing research and pricing. * Promoting the product so people will know about it by using tools such as public relations, advertising, and marketing communications. * Setting a price and letting potential customers know about your product and making it available to them. Usually, before launching a new product, organisations have no real idea of how the features and benefits of that product will be perceived by others or whether they will be prepared to buy it. Others may not necessarily value the same things in the same way as desk top guesses may suggest. That is why it is crucial to conduct marketing research - to find out what customers want. There are 3 good reasons why a business should conduct out a market research e.g. to improve business result, to reduce risks and to discover new opportunities. Marketing research is critical before you spend time and money developing a new product or service. It's also vital to analyse your market through marketing research to properly target your customers before you waste your money on advertising or other marketing efforts that won't get you the results you want for the product you've developed. Customer behaviour - Once an applicant has become a customer you want to maximise that relationship. ...read more.

Middle

If yes then which flavours would you like? Options Tally Frequency Yes |||||||||||||||||||||||||||||| 30 No |||||||||| 10 This is a column graph to show the frequency of the number of people that either want or are not bothered about introducing new flavours. The majority of the population which is 30 out of 40 people do want new flavours introduced by Walkers and only 10 people said they don't want new flavours or the one they want already exists. The reason why many people said they want Walkers to introduce new flavour is because they believe that Walkers still don't have all the possible flavours of crisps. While doing the survey many people mentioned the flavours that Walkers haven't made yet, such as baked bean, chilli and lemon, picked onion, curry flavour etc. 8. Are you getting value for your money when you buy walkers crisps? Options Tally Frequency Yes ||||||||||||||||||||||||||||| 29 No ||||||||||| 11 This is a doughnut shaped chart to show the chosen number of peoples responses. I can clearly see that the majority of the population think that when they buy walkers crisp they do get value for money. Only 28% of the population think they don't get value for money when they buy Walkers crisps. The reason why only 28% of people said that they don't get value for money when they buy Walkers crisp is that because the bag is not even half full and the price is about 40p to 50p whereas the price should not be more than 35p considering the amount of crisps they put in each bag. 9. Are you health conscious? Options Tally Frequency Yes ||||||||||||||||||||||||||| 27 No ||||||||||||| 13 This is a column graph to show the frequency of how many people are health conscious. More than half of the population said that they are health conscious and only 13 people said that they are not health conscious. ...read more.

Conclusion

The other thing that Walkers can do is to introduce lower fat products because while carrying out my research I found out that some people thought that Walkers have a high content of salt in their crisps and are fattening so in order to satisfy those people they should lower their salt content and make crisps less fattening. The sampling method I used for my research was random sampling. I think this method was really helpful because the sort of question I was asking was random too and it required getting information from everyone e.g. all age groups. This than led me to come to a conclusion after I had done the research and put all the results together, that the older age group people did not eat much crisps and therefore to increase the sales of Walkers we have to target these people as well and maybe use Quota sampling or even focus groups to exactly find out why they don't eat crisps and what can Walkers do to improve their brands. There are many ways I could've improved my primary and secondary research. Firstly to start of with my primary research just by looking at it I can tell that the questions are not spread out evenly across the page which makes it look like that it has been completed in like 5 minutes and not much thought has been put into my research which might put respondents off and they might not want to fill in my questionnaire. Secondly by looking at my secondary research which I found from internet I can see that its not really relevant to my questionnaire and doesn't even has a layout of questions that could have helped me, so therefore to improve I could have explored in business magazines as it is a source of secondary research as well and would have a relevant article that cold help me carry out my research accurately which would result in more accurate outcome. ?? ?? ?? ?? Richard Leach 18 Rizwana Hameed Rizwana Hameed ...read more.

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