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
market research
Marketing is the process used to make it as easy as possible to get the potential customer to buy your product or use their service. Market research is researching what people think about products and services. Market research is researching what e.g sells the best. You benefit from the research. Market research is either primary or secondary. Primary research is finding information that doesn't exist already. An example of primary research is questionnaires, telephone surveys, product resting and working with consumer groups. Advantages are that it provides data that is up to date, relevant and specific to you products. Secondary research is useful for looking at the whole market, and analysing past trends to predict the future. It's research on information that already exists. It involves looking at things like market research reports, or magazines and newspapers. Advantages are that it's cheaper than primary research, the data is found easily and it's instantly available. I will be using primary research as I will be looking for original information. I have rejected secondary because the information I would gather would be of existing cafes, so there would be no point because I would be basing my café on other cafes. I want to see what their opinions are on cafes today to see if I can make changes and improvements to attract customers to my café. For my research, I have
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
Table of Contents Introduction 2 .1 Business My Idea 2 .2 My Skills 2 .3 Projects Aims & Objectives 2 .4 Business Aims & Objectives 3 .5 Methodology 4 .6 Mission Statement 5 .7 SWOT 6 .8 PEST-G Analysis 8 .9 Target Audience 11 .10 Business Structure 12 Marketing Mix: 13 .11 Product 13 .12 Place 13 .13 Promotion 13 .14 Product for my business 13 .15 Place for my business 13 .16 Promotion for my business 13 Market Research: 13 .17 Primary Research 13 .18 Secondary Research 17 .19 Sampling 17 .20 Questionnaire graph 17 .21 Results 17 .22 Location 17 .23 Target audience 17 .24 Materials 17 .25 Transportation 17 .26 Communication 17 .27 Labour 17 .28 Image of location 17 .29 Qualitative decisions 17 Finance: 17 .30 Cost of the site 17 .31 Breakeven Graph 17 .32 Cash Flow Forecast 17 .33 Profit and Loss 17 .34 Discussion of Finance 17 .35 Bibliography 17 2 Evaluation 17 3 Appendices A-J 17 Introduction .1 Business My Idea My idea is to set up an established franchise. Thus a Subway Franchise. My decision was based on the idea that there is a gap in the market for this particular business especially in the South Norwood area. The only well known sandwich outlet is Subway and although it is already a well-established brand name, I believe that in the correct location my own store will have the potential to make a lot of profit and survive.
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 identifies
In this task I will be explaining all the different types of research a business can do when launching a new products or trying to improve an existing product. There are two main ways a business can gather research and this is through primary and secondary data. Market research includes customer's needs and wants, their future possible needs and wants, potential new markets/customers, new technology, the current trends and fashion, competitor strengths and weaknesses, competitor strategies and the overall marketing environment. A customer's needs and wants are valuable to a business because it lets them know what customers are interested in buying and what they want to buy in this moment in time. For the business to have a possible knowledge of customers future needs and wants is a huge step in getting an edge over their competitors as it will let them plan in advance for the next trends to start and they will be ready before their competitors so they will be able to maximise their customer base. Having new markets/customers will help a business to try and take control of new sectors within the industry and monopolise a market from the start, this will give them huge number of customers and profit, this then may lead to a company being one of the most richest in the world! New technology is either a really good thing for a company or really bad thing, the reason for
Market Research Report
Market Research Report To: Nike, Adidas and Reebok Research From: Mathieu Smith Date: Monday 21st June .0 As you may know your companies have approached me and asked me to carry out Market Research, design, sell and advertise a new product. The main points that I will be covering in the report are: ) Find out what your targeted audience is. 2) Find out what is the new trend and style. 3) Find out if people are interested in Fifa World Cup produce. As we all know Nike, Adidas and Reebok are the three main leading companies in leisure wear in the competitive market. I have used this current market to build up a better knowledge of what sells better than other products. We all know that trainers sell better than leisurewear, and this is what my product is going to be, trainers. 2.0 First off we need to find out what the consumer wants and how they want it. The only way that we could do this is by Market Research. As you may of read in the introduction, Market Research mainly decides upon the success and failure of a product. We found that Market Research takes along time to carry out, so the quicker we started the quicker we can launch our product, and this is how it started. 2.1 Firstly we had to decide which way we should go for Market Research. We had to go the right way about this because as you know there are many different ways to assess the current
Market research.
Section 3 Market research is finding out as much information about your market as you can, from as many sources as possible. To a firm market research is: - * Collecting information from its own records. * Collecting information about competitor firms. * Collecting information about the market in general. * Collecting information about consumers. Bringing all this information together in order to make marketing decisions. This data can be divided into two sections primary and secondary data. Primary data is data, which is gathered freshly by you or o9ne of your employees. There are several ways to collect primary data, Face to face: - this is the oldest but still most widely used form of collecting data. An interviewer, with a printed sheet of prepared questions, approaches a member of public in order to carry out a street interview. This is generally used to collect quantitative data. One on one: -these differ from face to face interviews in that the interviewer is not using a questionnaire, instead a series of questions is asked in order to obtain in depth reactions to a product or service. Instead of in the street, these interviews will take place in the comfortable surroundings of an office or home environment, because of the time taken and the inconvenience of the respondent it is likely they will be rewarded in some way, they maybe directly paid for their
Market research.
Research I will be investigating the various ways in which Hamptons leisure centre is run and operated. From this, I will be able to solve the problems and issues that Hamptons is being faced with regarding the Personnel department. To do this, I would have to collect appropriate information, and identify the source of this information so that I can put forward recommended schemes and ideas. This research and information would have to relate to the concept of high staff turnover at Hamptons leisure centre. After my research, I would have to propose the recommendations to the shareholders of Hamptons. The information that would be required would be the opinions of staff at the leisure centre, and their views as to how well the personnel department is functioning. The reasons for staff turnover would also be necessary, and the management of employees on the whole would have to be analysed too. Most of these aspects I will try and relate to the SWOT analysis of Hamptons that I completed, and the theories that I investigated. The following table conveys the information that I would require from my market research in order to make recommendations. Information required * The management of staff at the leisure centre, and whether this affects the issue of high staff turnover at Hamptons. * The opinions and views of employees at Hamptons on how they feel working at Hamptons, and
Market Research Proposal
Table Of Contents: Commercial Bank of Africa's (CBA) Background Information: 4 .1 History: 4 .2 Current Situation: 5 .2.1 Banks In Kenya 5 .2.2 Commercial Bank of Africa (CBA) Latest Development: 5 .2.3 Services Offered By Commercial Bank of Africa (CBA): 6 .2.3.1 Corporate and Institutional Banking: 6 .2.3.2 Personal Banking: (Current and Savings Account): 6 .2.3.3 General Services: 7 .2.4 Situation that Lead To Marketing Research: 7 2 Literature Research: 8 3 Problem Definition: 11 3.1 Decision Problem: 11 3.2 Research Problem: 11 3.3 Research Objectives: 11 4 Research Design Methodology (Primary Data): 12 4.1 Exploratory Research (Qualitative Research): 12 4.1.1 Interviews: 13 4.2 Descriptive Research (Quantitative Research): 14 4.2.1 Survey Method That Can Be Used: 15 4.2.1.1 Telephone: 15 4.2.1.2 Mail: 16 4.2.1.3 Internet Survey: 16 4.2.1.4 Personal Method: 17 4.3 Issues Of Discussion: 18 5 Time Frame: 19 6 Study Limitations: 22 6.1 Random Sampling Errors: 22 6.2 Administrative Errors: 23 6.2.1 Data Processing Error: 23 6.2.2 Interviewer Error: 23 6.2.3 Interviewer Cheating: 23 7 Budget 24 8 References: 25 8.1 Books: 25 8.2 Brochures: 25 8.3 Journals (On-line): 25 8.4 Newspapers: 25 8.5 Personal Communication: 25 8.6 Websites: 26 9 Appendix: 27 9.1 Interview Questions: 27 9.2
