Market Research
To study it fully I will undergo some market research Market research is the collection of information or data to better understand what is happening in the market place. By doing market research I will better understand the market and the views of the audience. I will do the following:
• Analyse the price of the event and decide whether the price is cheap enough to attract new customers, or compel existing customers to continue coming.
• Consider the promotion of the event on the market and whether it is effective at bringing the event to the attention of potential customers, and informing existing customers of new things that are happening such as special events and below the line promotion.
• Explore the product being offered, and whether it provides the consumer with what they want to buy, such as the right music, drinks, etc.
• Scrutinize the place where the club is located, as to the access of customers, and the area around it
To determine the answers to these aims I will use a variety of different sources to take data from such as:
• The web, I will use articles published by the media, and for information on the market mix of Suburban, specifically, the Place, and the Promotion.(Secondary Research)
• I will also use the survey data that has been collected from the local area surrounding Suburban . This survey was carried out by me to a completely random selection of 50, 13-17 year olds. (Primary Research)
Methodology
To achieve my target I will have to investigate into the market to do this I will use both primary and secondary research to get all of the information that is needed.
Primary or Field Research- Obtaining new data for a specific purpose. Typically, the data is gathered by face-to-face interviews, by telephone or by post, using questionnaires. This is called a survey. The benefits from doing this is that the data is up to date, I know from a first hand perspective whether it is reliable or not. I can also focus on making my investigation specifically to my needs. On the other hand it takes time, it may require me to interact with the audience and travel to places where the information can be gathered.
Secondary or desk research, this is the use of existing data that has already been collected by others. The benefits of researching using this method is that allot of information can be gathered in a short amount of time. In addition allot of the research can be done from the desks using books and the internet, although the down side is the information is only as up to date as the containing book and when the website was published.
The first form of primary research I will do will be designing a questionnaire, the questionnaire will be surveyed by me and around the Morpeth area. I will also make sure that the survey is done by specific people (The target audience.) the benefits of doing a questionnaire is that I can design the questions to find specifically the information that I require. A questionnaire also allows the questions to be suited to Quantitative and Qualative answers for later analysis.
Secondly I will participate in secondary research, this data will be gathered from places such as the internet and books, however when the book, newspaper or website was published they might have designed their questions to another use so allot of the data will have no meaning to my investigation. However I will be able to gather information in allot less time and with less expense to me in time and money.
Using the clubs website will enable me to gather information specific to my needs, things such as special events dates times and costs can all be researched in a relatively small amount of time. It will also allow me to look at trends already set up by the club and the PR they employ, this will give me further insight into the things that I am able to do with the club as I would not want to do something that is far off the gradient of the club.
I will be able to sue Google maps to look at the clubs location as well as; the surrounding area, competitors and means of access.
