Market Research
Market Research According to the American Market Research Association, market research is ... "the systematic gathering, recording, and analysis of data about problems relating to the marketing of goods and services". There are number of key words that are identified in the above definition. They are: * Systematic- this means using an organised and clear system * Gathering- this means knowing what you are looking for (e.g. target audience) and collecting appropriate information * Recording- this means keeping clear and organised records of what you discovered * Analysing- this means putting the information in order and making sense of your information in order to identify the relevant trends and finding out the conclusion. * Problems relating to the marketing- this involves dealing with questions which, will help you to understand better both your customers and other information about the marketplace (e.g. competitors' products and services) Market research is necessary to all organisations because, without it they would not able to identify customer requirements as well as the activities of its competitors. Also, organisations such as, Cadbury Schweppes need to use market research to find out these information before; they can develop their marketing strategy. The use of market research Market research can be used for many purposes. It can be used to collect
Market Research
Market research Market research is the collection of information or data to better understand what is happening in the market place. A firm's marketing department needs to know about economic trends, as well as consumers' views. Based on this information, they can put together a marketing plan, which will meet their own needs as well as those of their consumers. There are two general types of research: * Primary or field research- Obtaining new data for a specific purpose. The marketing department of a firm or a specialist research organization can provide this. Typically, the data is gathered by: Interview: This is the technique most associated with marketing research. Interview can be: > Telephone: Telephone ownership is very common in developed countries. It is ideal for collecting data from a geographically dispersed sample. The interviews tend to be very structured and tend to lack depth. Telephone interviews are cheaper to conduct than face-to-face interviews (on a per person basis). Advantages of telephone interviews * Can be geographically spread * Can be set up and conducted relatively cheaply * Random samples can be selected * Cheaper than face-to-face interviews Disadvantages of telephone interviews * Respondents can simply hang up * Interviews tend to be a lot shorter * Visual aids cannot be used * Researchers cannot behavior or body
Market research.
market research The product that I want to do my market research on is biscuits'. To define biscuits is quite hard now a days'. There are many brands and also many types for instance rich tea, digestives, custard creams and many other assorted sweet biscuits. However, there are also savoury biscuits as well such as crackers that you eat with different assortments of cheeses. Bearing in mind the wide range of biscuits on the market already, and also the 'health biscuits' such as the a:m range I'm going to choose the very basic biscuit... the digestive biscuit. I'm only going with the digestive biscuit because once I have completed my market research I will be able to change the product to the consumers wants, if that works then I shall be able to make a profit. The information that I want to find out is: - v How often does the consumer eat the biscuit? I think that this will be the most important question because this will give me times of the day. I.e. if the consumer eats the biscuit at 'break time' at work then I can still use the normal digestive biscuit but add different toppings on it like white/milk/dairy/dark chocolate. v At what price does the consumer buy the biscuits? I want to sell my product in a place where every-one of all ages, cultures and social backgrounds. If I was to slightly change the product i.e. if I bought out a milk chocolate range of
Microsoft Market Research
Microsoft Market Research Market Research Microsoft needs information if they are to make good decisions. They need information about their target market to help them create a successful marketing mix. One way of gaining that information is by carrying out market research. Market research is a cost-effective way of finding out what people believe, think, want, need or do. There are various types of market research. Microsoft needs to decide what market research methods are most likely to give them the information they need. Businesses, which are mainly product, orientated risk spending a large amount of resources launching a product, which proves to be a failure. Researching the market helps reduce the risk. Microsoft should focus research and design effort onto products, which have a chance of success in the market place. When the product is launched a carefully researched product stands less chance of failing. Stages of Market Research Market research will help Microsoft to find answers to questions about the market. * What is the target market for the X Box? * How can Microsoft use the X Box to increase market share? * What is the right price to set that will maximise profits and be affordable to as many people as possible? * What are the right promotions to use that will appeal to Microsoft's target market? * Where's the best place to sell the X Box? * What do
Market research
Market Research Introduction Market research is one of the most important things needed to start a business. Market research will help you identify the target market for your business. A business can identify the target market by two types of market research, which are primary research and secondary research. In this unit of course work, I will stat different types of market research and how it affects the business. Business also needs to analyse there own product and services to identify the target market. Market Research Market research is the procedure through which businesses collect information about things going on market such as customers demands, about the other competitor and the market. Market research is important because from market research business can obtain information on products and services. This information will help to answer the following question: * Which products or services are making good profit and which are not? * What people think of particular products and services? * Which product is on demand? * Is there a gap for your business? * Are existing product satisfying customers' demand? The answers for this question will help business to know what products or services they should offer and which they should not. Market research will also help a business to make right decisions about the price of their products and services. Market research
Market Research
NAME: Niamh Kenny YEAR: Business 1 MODULE: Marketing TITLE: Market Research TUTOR: C Ryle TABLE OF CONTENTS 01. Introduction 02. Methodology 03. Results of Primary Research 04. Discussion/Evaluation 05. Conclusion/Recommendations 06. Bibliography 07. Appendix INTRODUCTION Tutor C. Ryle assigned this Market Research Report, for the Business Year 1 Marketing class as part of NCVA examination. A recently qualified business graduate whom has just gained employment in the business world has conducted this report for the employers, a small co-op producing Elder Berries. This report is base on research and a market for the product has been established. The co-op was establised in 2001 producing Elder Berries. The reason for the establishment was because of the vast amount of Elder Flowers growing in the area. These Elder Flowers were left untouched. They grow close to the riverbank. Local people picked the berries and flower in the springtime and would make jam, ice cream and home made wine for their families. This became a habit in the town amongst the women and so a co-op was formed producing elderberries. They mostly produce wine and jam. Their business has grown immensely within the year, and they distribute throughout Ireland to shops and restraints. The company would like to expand and produce a new product for Elder Berries. METHODOLOGY Research was carried
Decide whether there is a gap in the market at the school to provide an alternative supply of fast food to the students in years 7-10.
Business Studies Coursework Guide 2003 Enterprise Option Name ..................... Form ....... Teacher ..................................... Introduction Business Studies must be relevant to the real world of business and what goes on in the world outside the classroom. You will not be able to achieve this by only doing SECONDARY MARKET RESEARCH. This coursework option gives you a chance to study, analyse and report on a business idea and will be based on a FICTITIOUS business. Remember that you will be given some DEADLINES and in order to gain full marks it is vital that you meet these deadlines. In this handbook, you will be given a step-by-step guide. This will enable you to gain good marks for your coursework. This work is worth 25% of your final examination marks. There is no specific length for this piece of work, but the work will need to meet all of the criteria. It will be possible to meet all of the criteria set down in this handbook with a piece of work of around 2000-3000 words. You must use ICT in all aspects of this work, and remember that there is plenty of information on both the INTERNET and the INTRANET. Your work must be presented in a REPORT format, and must be word processed. You must pay lots of attention to your spelling, punctuation and grammar as you can gain marks for this. ***You will be expected to bring this guide with
Would the opening of a fast food restaurant on Riddy lane (Luton) represent a sound business proposition?
Would the opening of a fast food restaurant on Riddy lane (Luton) represent a sound business proposition? Contents- Terms for reference.........................................................................pg. -Introduction....................................................................................pg.3 -Aims and objectives........................................................................pg.3 Methodology.................................................................................pg.5 Market Research Methods..........................................................pg.5 Questionnaire Design...............................................................pg.5 Sampling...............................................................................pg.6 -Findings.............................................................................pg.7 Questionnaire..................................................................... pg.7 . Competition......................................................................pg.14 2. Fast food Market................................................................pg.16 3. Location...........................................................................pg.18 4. Target Market....................................................................pg.20 5.
Market Research
Market Research Introduction Milo has been around since 1933. It is a chocolate malt flavoured beverage, which is fortified with several vitamins. Young and old love Milo simply for being energy- packed and its rich chocolaty taste. As a health food drink, it is full of vitamins and minerals. In fact, new improved Milo boosts optimum performance. This is what makes it different from its competitors who are; Ovaltine, Haulics, Lucozade, Nesqiuck and other chocolate drinks. Milo is available in 18g single serve sachets, 80g, 200g, 300g, 600g, 1kg refill packs and in ready-to-drink plastic bottles. You can also enjoy the goodness of Milo through the healthy and delicious Milo Balls, Milo Ice Cream, Milo Scoop Shake and Milo Balls. I am going to identify and explain the principles of marketing because it is the foundation at, which I'm going to use to create my marketing strategy. Marketing involves the anticipation, identification, satisfaction and creation of consumer wants for the purpose of generating income or profit. It also involves a variety of activities designed to raise consumer awareness, develop new products, increase market share and profit and to manage the effects of change and competition. In order for a business's marketing to be successful, it must be based on the principles of marketing, which are: * Understand customer needs * Understand and keep ahead
Would the opening of a new fast food restaurant in Sandhurstrepresent a sound business proposition?-
Louise Forbes Would the opening of a new fast food restaurant in Sandhurst represent a sound business proposition?-Yr 10 Business Studies Coursework Task 1 A sound business proposition is where there is a gap in the market to fill e.g. no clothes shops in Sandhurst. It is a legitimate (justifiable) proposal. It has to be a good idea- inventive, new, catchy and a profitable idea e.g. Dominoes. There has to be a high demand for that business to be profitable. It needs staff that are willing to work suitable hours. A good market share would help because then the business would be getting a good amount of sales compared to other businesses in the market. Bracknell Forest has a population of 109,606 people with approximately 25,000 of those people living in Sandhurst. It is a small commuter town about 30 miles from London. The town exists because it's an overflow from London. There are a few businesses in Sandhurst the only primary industries are small farms and very few of them. There are little or no secondary industries possibly a factory or two. There are lots of tertiary Industries - almost all of Sandhurst is tertiary. Some of the tertiary services include the doctors, dentists, chemists, dry cleaners and some of the sellers are Safeway's, Papa Johns, Kings and many more. The main transport links around Sandhurst are rail , road (shown on map) and Bus. The main
