Market research and methods of marketing.
Marketing is all about promoting a product to potential and existing customers. Sometimes Sales and marketing are lumped together, but they are really quite different functions. Market Research The first thing that needs to be done when a company is contemplating a new product or service is to do some market research. Which means trying to find out whether people really want or need your product, or what particular thing about similar products thing about similar products they find most useful or attractive. Computers are used for many aspects of market research. Computers using a desktop publisher package probably produce the survey forms. These may be special OMR (Optical Mark Recognition) forms. Responses are made by making pencil marks in predetermined positions on the page, which can automatically be read by a computer. Methods of Marketing Different ways of marketing products: * Advertising in newspapers and magazines * Advertising on TV, radio and in the cinema * Advertising on posters * Handing out flyers * Direct mail to selected address * Advertising on a website * Exhibiting at Trade fairs * Having sales representatives visit stores * Using the telephone Discussion I have seen all these marketing methods in operation. The most effective method for selling a car would be: Advertising on the TV, newspapers and Exhibiting at Trade fairs. The most
Describe the methods used to conduct Market Research
Assignment 2 Describe the methods used to conduct Market Research Definition of Market Research: "The gathering and studying of data relating to consumer preferences, purchasing power, etc., esp. prior to introducing a product on the market. The study of influences upon customer and consumer behavior and the analysis of market characteristics and trends" http://dictionary.reference.com/browse/market+research Market Research consists of using a range of methods to gather different information of customers' wants and needs. If effective Market Research is carried out this will help produce a successful product/service. The Key Themes of Market Research When launching a product a business needs to conduct research on their competitors, customers' needs, and the environmental effects in relation to the product they are going to market. Market Research also includes all aspects of the marketing mix. The results obtained help to produce competitive products. Customer Research Organisations use customer research to find out about their current and potential consumers. It is important a business find out what their customers wants are so they can adapt their methods to fit in with potential and current buyers. Market and market segment sizes - LOOK UP Market trends - A business needs to look at previous market trends to predict if the products they are selling are going
How the NHS and Tesco Use Market Research
Business Level 3 Unit 3 – P3/M3 Unit 3 P3 – Section 1 Marketing Research Marketing research is when you research the market so you can get information about other businesses around the area, the marketing research includes things like what the product is what it’s for and how they are presented, Marketing research is also researching what types of products are good, and in which area’s they will sell well, Marketing research is basically getting data of other business in the same area or same type of business as yours. -Primary Internal research Primary research is Information that comes directly from the source that is potential customers. You can compile this information yourself or hire someone else to gather it for you via surveys, focus groups and other methods. Tesco may use primary research by asking for feed back, doing surveys and focus groups to get information from customers about the business and products and way it could be improved, this feedback is gained from the business, people like employee’s, Mystery shoppers, Internal research is when you collect research from inside of the business and External research is when you go outside of the business to collect information. The sales figures of Tesco and the NHS could be improved with this research because if the business has the right research they know what to do so they can improve their
Market research for Six Flags theme parks co.
Anas Chokairy Understanding markets BM1 SIST/UWIC Marketing research .Introduction: Amusement & theme parks are important participants in the tourism industry, they play a special role in generating tourism demand, and they are the main motivators for tourism trips to many destinations. Competition in the theme parks market is growing with the increasing number of parks. In some areas amusement parks market seems to be reaching to saturation point whereas in different areas there is still work to be done. The Moroccan market has not been intruded with any sort of amusement parks that specialize in the tourism sector, so it would be safe to say that there is a good gap of opportunities in that domain, however any investing company has to conduct a market research before deciding to come and invest in Morocco, and that will be the task of this report, through explaining the factors of market research, the necessary explanation and statistics to why it would be a very profitable idea to start an amusement park in morocco will be provided, in fact the amusement park company I will be trying to attract is named Six Flags and it's one of the largest and growing amusement park corporations in the world. 2. Secondary data sources and data collection process: 2.1. Market Research: -Six Flags offers a variety of attractions to a very large and diverse market and the fact the
Market Research for Business and Marketing
AEF 218 : Market Research for Business and Marketing Student name: Stephen, Fung Tsz Pan Student no: 031308483 Business Report (Focus Group) Introduction of Focus Group A focus group is a selected set of people used to test and evaluate a concept or product. In other words, focus group is fundamentally a way of listening to people and learning from them. It creates lines of communication. This is most obvious within the group itself, where there is a continual communication between the moderator and the participants, as well as among the participants themselves. Just as important, however, is a larger process of communication that connects the worlds of the research team and the participants. It can be used in web site development to verify various aspects of site design. In addition, it is an outstanding tool for validating that your site is in alignment with your target audiences needs. It is a qualitative market research technique and most commonly 6 to 10 people made up of a statistically proportionate representation of a targeted demographic. In this report, I am going to organize, conduct and analysis a focus group. I will also explain what I have learnt through this experience. Topic that I choose: JR Propo. Co Ltd. JR Propo. Co Ltd. is a company that sells remote control models based in Japan. They are a young engineering company dedicated to using the best
Different types of primary and secondary market research
Unit 10 P1 Different types of primary and secondary research Market research is an essential part of any business plan, whether it is a fledgling business or a multinational organization. Knowing that there is a sustainable market for your product and understanding of what your audience expects from you is vital from a successful business launch. . Primary research is when the creation of your own research, whether it is a question you ask to your friends and family or a survey put together alongside, agency and managed to a wide panel. Primary research will instantly make you feel more in control of your project. You choose your questions and select your panel through qualitative research, allowing you detailed responses from an individual person. You decide how, when and where your research will be managerial. You can ensure that your research is focused: the number of participants and their backgrounds, the number of nature of the questions, the number of time that your survey is available. Types of primary research: Observation: watching how consumers behave provides many insights, but can leave questions unanswered. Observation works well in retail markets; sit outside a shop and watch how many people walk by, look at a window display etc. Experimentation: Marketers often undertake experiments to measure how the use of one marketing variable affects
Conducting market research to find out who the target market is for a business.
Action Plan What I need to do Where I shall get the information from Alternative strategies Problems/ comments I need to write an introduction explaining the type of business/ organisation my client has set up, the business problems they are facing and the business aims and objective. I shall hold a meeting with my client Discuss with client My client may not be willing to discuss the marketing plan. I will explain the objectives of the marketing campaign and how this will help the business achieve its aims. I will use the Internet and textbooks. 20 20 research I will identify the target market and explain to the client. I will also discuss other potential methods of the market. I will produce a questionnaire. Discuss other potential methods of market research. I will interview a shop owner to see their aims and objectives. Desk research- use of the Internet. www.barnsley.gov.uk I will need to ensure that the questions asked are appropriate. I will present the findings of my research towards my client Using graphs and charts I will use the information I have gathered in the questionnaire. I will discuss what needs to be took into consideration regarding location, target market and pricing. The target market may be varied I shall discuss three options that my client could use to promote their product. I will use the information on promotion and
Market Research for Toys R Us
Market Research Analysis of Toys R Us Toys R Us Christmas Holiday Sale Commercial Full 1990 UK Toys R Us Advertisement Generic Code: Generic Code: Representation: In this advertisement, the colour codes - Blue, Pink, Red, and Yellows are mostly focused on bright primary colours; this stimulates the human senses and attracts attention, in which it represents the creative minds of children. The conventions - animated toys that 'float' above the box can be seen to portray the vast amount of selection of toys available. Although I felt that the screenshot above is very well presented, audio effects are not convincing and lack the important stimulations that would attract customers. Representation: The icon of 'Toys R Us' in the centre of the scene strongly promotes instant recognition to the audience. This is emphasized further due to the icon appearing so soon in the advertisement. Through the colour code of yellow representing light in the dark background, it accents the characteristics of this company as a place of 'warmth and happiness'. Verisimilitude is created through the use of lighting similar to that of car light. The use of audio is very attractive, the song is appealing to a demographic age of 2 - 6 through lyrics like 'magical' and 'bedtime'. Narrative: In my opinion, this sales commercial does not have a very appealing narrative. Although the structure
Types of research - Market research is the collection of information or data to better understand what is happening in the market place.
Types of 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 * Secondary or desk research Primary or field research Obtaining new data for a specific purpose. The marketing department of a firm or a specialist research organisation can provide this. Typically, the data is gathered by face-to-face interviews, by telephone or by post, using questionnaires. This is called a survey. Sometimes potential consumers are asked to test products, and their responses are recorded. Field research has the advantage that the firm itself has control over the whole process. The disadvantages are that it takes longer, and costs more. Secondary or desk research This is the use of existing data that has already been collected. It can be anything from a company's own sales statistics to Department of Trade and Industry reports. Other secondary sources of information include journals, company reports, government statistics, and surveys published by research organisations. The research process Marketing departments
market research - academic library of 21st century
Market Research Assignment Academic library of the 21st century Course title: BA International Business Introduction The purpose of this assignment is to learn about modern academic libraries and establish which changes have to be made in order for the libraries to meet the needs of 21st century students. In today's information age particularly, more technological study resources are becoming available, enabling students to access vast amounts of information on the Internet. This has significant impact on traditional services offered by the academic library. Although actions have been taken in order to respond to the technological changes through means of online databases and catalogues, so far the possibilities for further development have not been considered fully. Technological change is just one of the main factors affecting how the modern library operates and evolves. The purpose of this study is to investigate these factors. In order to do so, a comprehensive collection and evaluation of information is required. Both primary data, which is to be collected using questionnaires aimed at the target demographic of individuals who affect or are affected by the library as an organisation. Secondary data, which has been collected previously, but relates to the subject and can be found through various sources such as books, magazines, newspapers etc. Literature Review
