Marketing

By: Michaela Louise Burnett

Tutor: Barry Forrester

Marketing

BTEC NATIONAL DIPLOMA

Submission Date: March 2008


                                                                         

Terms of Reference

  • Set By:  Barry Forrester

  • Was produced by BTEC National to help us understand the different aspects of setting up your own business and the different aspects of Marketing and how this affects businesses and their overall marketing decisions. So in the future I will have the knowledge to be able to set up my own business if I wish to and understand the external factors out side of the business and the different research methods that are available.  

  • Date Due In:  March 2008

Procedures

I produced this assignment by researching a selected business and the different methods involved in collecting data. From this I produced a marketing report for my chosen organisation. I did this by researching a number of companies within the same market to get an overall view of the business activity and their performance figures. This report is word processed using Microsoft word.

 


Contents

  • Section 1: Main types of marketing research,   (P1)

  • Section 2: Plans of market research/most appropriate  (P2)

  • Section 3: Market research conducted,   (P3)

  • Section 4: interpreted findings (P4)

  • Section 5 : Research analyses of  methods,     (M1)

  • Section 6: Explanation for selecting data collection methods   (M2)

  • Section 7; Analyses of own research findings/recommendations  (M3)

  • Section 8: Evaluation of the applicability of selected research methods, (D1)

  • Section 9: Evaluation of the finding from the research undertaken. (D2)

  • Section 10: Bibliography

  • Section 11: Completed questionnaires.


Michaela Louise Burnett

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Section 1:

Task 1. (P1)

Describe the main types of marketing research and how they have been used to make a marketing decision in a given situation.

Date: 20 February 2008

Report on: How the main types of marketing research have been used to make marketing decisions.

Introduction

I have recently been appointed as a marketing research assistant at a local agency, Morris Qader Robertshaw Associates (MQR). I have been assigned to produce a report to demonstrate the benefits of market research. This document will be produced using Microsoft word, structured in a report format with the use of internet and library resources to help research the information needed to complete this assignment. For this task I will explain the different methods of marketing research and how they have been used to make a marketing decision in a selected business.

Findings:

Market research is carried out to identify customer needs and views in relation to potential new products/services or extending products or services.  The principles of market research are to refine marketing strategies and activities to satisfy customer’s requirements. After customer needs have been identified they need to be met, it is essential to do all of this so that the business can make a profit to invest in advertising and other new products.

Coca Cola is a well-known soft drinks company; they follow some principles of marketing when developing their own market research. These include the following: understanding consumer needs as the market constantly keeps changing; therefore it is essential that Coca Cola keeps looking for new opportunities. Also communicating effectively with customers to make sure that they have got the product, price all right other wise it might not be a success. Coca Cola need to keep ahead of their competitors to make sure that they don’t lose customers.

Coco Cola sponsored a TV programme to increase the sales of their product.  They used market research to obtain information to ensure their program was going to be a success. These included the following methods of collecting and researching data. Primary, secondary, quantative and  research.

There are two main types of research primary and secondary. Primary is new research that has been found using strategic, technical and data bank research and secondary is existing research like in books, reports and the internet.

Primary research is usually carried out to find out directly from the market how a new product may be seen. Coca Cola used primary research, as it is very effective in helping them to identify new opportunities and ideas before its competitors. For example Coca Cola did a door-to-door survey to find out how many people have heard of their products and how they have heard of them. This provided them with information, to be able to assess if   sponsorship was the right type of media to use to promote awareness, because if more consumers had heard of their brand name through seeing billboards then this would have being the most appropriate media to use to help increase their sales. The draw back of using this method is that Coca Colas competitors, such as Pepsi might have already done a survey by using similar questions. Also some consumers who might have answered the survey may have being lying. This type of research is more expensive because it is first hand but it is more likely to meet the precise needs of Coca Colas research.

Secondary research makes use of research already carried out by someone else for some other purpose, for example the Internet, books, newspapers etc. Secondary research is widely used as it has a low cost. It is not effective enough to help businesses gather individual information, as it is available to anyone. This type of research is not detailed enough to help Coca Cola make decisions about how to run their business or carry out activities or operations with in the company. Also some secondary information might be out of date because the markets change rapidly. However it is cheap to use and may help to understand certain issues that may be relevant to the research. Also this type of data is useful in providing a comprehensive insight into a markets size, segments etc.

Qualitative research obtains in-depth information into people’s attitude and their motives for buying a product. It can be undertaken in small groups called focus groups or interviewers. However the number of individuals interviewed is likely to be small so might not be as reliable. This type of research asks open questions to get a more detailed answer from consumer; this gives more informative data to the business.  Coca Cola used this research method because it helped them find out relevant information they needed to know when developing their advertisement. For example qualitative research finds out information about consumers lifestyles, habits, buying patterns and it helped Coca Cola find out what TV programs they watch so they knew which programme was the best to sponsor, to overall help to get better results.  

Quantitative research produces facts and figures (numerical statistics). It uses multiple-choice questionnaires that ask closed questions e.g. do you like this product? A. Yes B, no. These are fixed answers that are easier to analyse. This method helped Coca Cola measure sales week by week, including those of competitors before and after the sponsored advertisement was broadcasted, this overall help them determine if the advertisement had helped them increase their sales and if their competitors had decreased due to them attracting more consumers to purchase their products.

Sampling- is another source of research it involves using a number of individuals to gather information on what every one thinks about something in the whole group. This is very effective as it helped Coca Cola find the relevant information they needed.

Also to provide further understanding of how marketing research methods can be used to make marketing decision, I will use Cadburys as an example to show how they used market research to help make decisions regarding their product range.

Marketing helps a business to make accurate decisions on the information it provides. Cadburys use market research techniques to help understand its competitors, customers and the environment it is in, as these are the main three things that affect the business from the out side. There are many different types of marketing research some are more effective than others. They identify opportunities and threats so the business can come up with new ideas to overcome these or proceed with them.

Primary is new research that has been found using strategic, technical and data bank research and secondary is existing research like in books.

This is business direction strategies like new opportunities and planning new markets.  This type of research would be beneficial to Cadburys as it would help them to plan its future direction, for example identifying a new internal market to enter to make sure that the market that Cadburys has chosen is the right one for them. 

This enables a business to look at its market more precisely, so that its current activities can be improved. Cadburys could use this to improve its promotional tactics within its market. 

This involves collecting new or updated information about the markets segments and consumer interests to the organization. Cadburys could use this type of research to find out what consumers think of their products so that they can improve them so that they will be at customers satisfaction, this could help them increase their sales of their products.

Conclusion:

Overall from the above information I conclude that Coca Cola and Cadburys analysed each method that was available for them to use and weighed out the good and bad point of each to overall get a better understanding of which were the right methods to use to help them obtain the information they required and which were the most appropriate for the given situation.  


Section 2:

Task 2. (P2)

Select an appropriate method of data collection and plan research for a selected product/service.

Date: 20 February 2008

Report on: Planning and selecting research methods for a selected product/ service.

Introduction

This report is being produced to help plan a marketing campaign for the Calder dale college canteen department. I will produce an appropriate method of data collection to help obtain the information required in order to help the canteen make marketing decisions on how to increase its sales. The purpose of the survey will be to find out what students at the Calderdale College think of the quality of the colleges canteen.

Marketing involves analysing customer needs, securing information needed to design and produce goods or services that match buyer expectations, and creating and maintaining relationships with customers and suppliers. Marketing is extremely important to any business as it identifies what its customer’s wants/needs.

The method of data collection I am going to use is a simple questionnaire that will ask specific questions to help gather the information that is required. This has been chosen as it is most appropriate for the type of business and the budget they can afford. It is a cost effective source that will help get results. Also the questions will be a mixture of open and closed questions to help provide quantative and qualitative information. In addition the use of secondary research will be used to help obtain data that will help to decide what questions should be asked.

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The college canteen wants to increase its sales, and believes the issues are the quality and range of food it offers. This is what the brief will try to find out by researching information from a range of students that attend the Calderdale College.

Planning research:  

There are various research stages that can be used to help increase the quality of the research carried out, to overall result in a better outcome.  

 

Defining the objectives of the research to make sure that the objectives are SMART objectives so that they can make sure ...

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