1. Market Research Propalsal
Marketing Research Proposal
Organization: The Beerenberg farm
1. Identify the target customer and discuss the market segmentation of the organization.
Market segmentation is dividing a market into direct groups of consumers who might separate products requirements or marketing mixes, the process of
classifying customers into groups with different need and requirement. (Kotler et al 2010, p.264). In this proposal, the market segmentation will be
discussed from three aspects, which are demographic, behaviours and psychographic.
In this section, four elements of demographic segmentation will be briefly discussed. The age group, life style, gender and income level. In terms of
the products is focusing on the quality and the ... Show more content on Helpwriting.net ...
This could always attract the customers to purchase the products.
Bargaining power of suppliers
This force has the least impact of the organization. In terms of the Beerenburg farm has their own farm and own manufacture line and is a family
owned business, which indicates they have fully control of the process. This could be the competitive advantage that will beat other brands on the
market.
4. Decide whether qualitative or quantitative data (or both) will be applied in this research and briefly discuss the suggestions.
In this proposal, a combination of qualitative and quantitative data should be applied.
The qualitative research approach aims to have a greater understanding on a specific problem by focusing on small sample and non–statistical data
analysis. However, the quantitative research approach focuses on the measurement and analysing the data in a statistical way. Furthermore, qualitative
research is more likely to ask open question which is different from close question that quantitative research ask. In this proposal, the Beerenberg farm
could use both research methods to satisfy the research objects. (Zikmund et al. 2011, p.69) Firstly, the quantitative research method could be used to
identify the customer type and help organization have a brief idea. Secondly, the qualitative research method could be used
3. Outline Of A Market Research Proposal
Market Research Proposal Created by Gold Petals Ltd. For Pulse Motors On 19th December 2014. Table of Contents A.Problem Statement 1
B.Background 1 i.Nature of Pulse Motors and services offered 1 C.Consumer Analysis 1 i.Identified Target Market 1 ii. Most Important features to
consumers 2 D.Competitor Analysis2 i.Identifying the... Show more content on Helpwriting.net ...
Some of the factors hindering the adoption of Electric vehicles include but are not limited to the following; high cost of batteries, low mileage range
and lack of charging facilities. As a result of this Pulse motors has decided to focus on the bicycling/motorbike by introducing the PEV0 into the UK
market Therefore Pulse Motors must undertake a detailed research in which consumer behaviours and needs are identified, the overall perception of
Electric Vehicles is determined and recommendations for how the PEV0 should be marketed in the UK is provided. B.BACKGROUND I.Nature of
Pulse Motors and the services offered Pulse Motors is a start–up Firm focused mainly of the Electric Vehicles sector of automobiles. Pulse Motors
recently designed a two wheeled electric vehicle named the Personal Electric Vehicle Zero (PEV0). This vehicle can drive over 60miles on ВЈ0.30 of
electricity. The bike charges from a standard 220V outlet with its on board charger. It comes with fully functional pedals which allow it to be ridden
like a bicycle or the throttle can be twisted and it makes use of the stored electricity. C.CONSUMER ANALYSIS I.Identified Target Market Pulse
Motors can serve a wide segment because of its indispensable value to eco–conscious commuters. The general consensus among top managers at Pulse
Motors is that their target market is from the lower middle class upwards to the high middle class in the society.
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4. Market Research
| Market Research Proposal| Presented to: |
By :Bryan Phua
A1697509
By :Bryan Phua
A1697509
|
Contents 1.INTRODUCTION2 2.BUSINESS OBJECTIVE2 2.1.Research Parameters2 3.QUALITATIVE RESEARCH (FOCUS GROUP
INTERVIEWS)3 3.1.Purpose3 3.2.Sampling3 3.3.Procedure4 4.QUANTITATIVE RESEARCH(SELF–ADMINISTERED QUESTIONNAIRES)4 4.1
Purpose4 4.2 Sampling5 4.3 Procedure6 5.DATA ANALYSIS6 6.TIMELINE7 7.APPENDICES8
1. INTRODUCTION
Palmer's is one of the world's leading brands in skincare – sold in more than 80 countries Founded in America in 1840, Palmer's has fought its way to
create a trusted household name. Palmer's is primarily known for body moisturizer ... Show more content on Helpwriting.net ...
The focus will be on the relationships between face care products and a variable such as, Age, Income group, face types and trends. Simultaneously, we
would also like to find out if Palmer's current marketing strategy – its Cocoa Butter Formula appeals to the purchase decisions of our target market.
Below is an example of 2 such questions
Table 1 Question| Research type| Question Structure| Data Analysis (refer to section 5)| 1. I'm interested to hear, what infuences your purchase
decisions when it comes to face care products? – 10 mins – what are the attributes you would consider important? (e.g price, quality, brand, feel,
functionality) | Qualitative | Focus group (exploratory)| Inductive
– Gather Data– Look for patterns– Develop Theory| 2. What Brands of face care products do you currently use? Why? – Here are a few samples of
face care products, which one are you more likely to purchase? Why?| Qualitative| Focus group(exploratory)| Inductive
– Gather Data– Look for patterns– Develop Theory|
Focus group interviews allow respondents to freely express themselves through open ended questions, it also reduces ambiguity that arises from
5. survey questionnaires. Perspectives on purchase decisions for face care products can be sensitive as it deals with one's face type and one's sense of
beauty and thus the possibility of respondents committing acquiescence or social desirability
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6. Market Research Methods For Business
Market research methods in business
Primary research is data that is gathered first hand from an original source, and has not been collected before. It often involves going out and asking
people for information, hence its alternative name field research.
Observational research involves watching and observing people's activities. For example, businesses use cookies on their websites in order to track
what pages users are visiting on their website. By using cookies, businesses will be able to know what pages are most popular among users on their
website. Information collected through cookies can also help businesses improve marketing and their website. Experimental research is when an
investigation or test is conducted in order to discover new opportunities which can help to maximise revenues for a business. This could be done by
aiming their product at a different demographic e.g. elderly people and modifying (or experimenting with) their product to make it more appealing to
that demographic. Surveys involve asking people questions in order to collect information about what people think about something. This can be done
face to face, by telephone, by post and online too.
E–marketing research involves using the internet to contact and interact with consumers about a businesses' product(s). Examples of e–marketing
include online surveys and cookies (as mentioned before). A focus group is a research method in which a small group of people are asked to give
their opinions and
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7. Project : Plan Market Research
Part 2: Plan market research The next part of the project is to plan the type of data you will collect and how you will collect it, as well as the costs of
collection and analysis. For this part of the assessment, you will need to prepare and send a briefing paper to your manager (supervisor) outlining your
approach to data collection for the planned market research. Your briefing paper should be written in plain English and should be clear and easy to
follow. Your briefing paper should be clear and include sufficient information on the following: The types of data that could be used in relation to
the planned market research e.g. quantitative and/or qualitative and primary and/or secondary Industry planning information: this is to know the
market or industry information of the whole market which it would include in the market, sales, trend and forecast in the coming year. It is important
for the company to know before step into the industry as it is important for analyzing these factors. These factors include market insights, company
profile and company's annual report etc. Qualitative data: this type of market research concerns the facts about social phenomenon which assured
the fixed and measurable reality. The data analyse through numerical comparisons and statistical inferences and reported through statistical analyse.
The example is color of the sky determine the quality of shading in the picture and the use of contrast within the photo. Quantitative data:
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8. Farmers Market Research Paper
After standing in line for forty minutes at a supermarket, Americans finally get to pay for the food and leave. Unfortunately, the food is anything but
fresh or healthy and has traveled very far to get to the final destination. Farmers Markets (FMs) are an old tradition that has barely survived this long
due to the rise of the industrial farms and supermarkets. They provide the easiest way to get very fresh and healthy food, but prices can be very high
at times. Even though food from a Farmers Market is more expensive, it provides an easy way to get fresh and healthy produce while helping the
farmer and the community it represents. Farmers Markets should be promoted because they provide fresh and healthy food and support the farmer
directly ... Show more content on Helpwriting.net ...
According to Time, "The latest research finds that the amounts of farmers' market vouchers don't contribute to a meaningful increase in fruit and
vegetable intake, and that prices for produce were lower at grocery stores than at the markets." this shows that it is significantly cheaper to
purchase your produce at a grocery store rather than a FM. Also, these markets are only open for a few months a year due to winter, so they can be
unreliable at times. According to FMC, "Some markets are only open in the spring, summer, and early autumn." Since they are only open a few
months a year and can unreliable at times. Although farmers markets are expensive and unreliable at times, they are still a better alternative to
supermarkets and grocery stores. According to Joel Salatin on page 185 of The Omnivore's Dilemma, "Whenever I hear people say clean food is
expensive, I tell them it's actually the cheapest food you can buy." Joel Salatin believes that in the long run, it will cost you less because the food is
healthier and will save you money in doctor visits. Although FMs may be expensive and unreliable at times, it is a good price to pay for the food you
are getting and will save you money in some
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9. Market Research Report of the Volkswagen Golf Vi.
Marketing Home assignment
Market research
Market research report of the Volkswagen Golf VI.
[pic]
Table of contents
Table of contents2 Introduction3 Market research4 Defining the problem and research objectives4 Developing the research plan for collecting
information5 Implementing the plan, collecting and analyzing data7 Interpreting and reporting the findings8 Conclusion what the market research tell
us8 The application part of the Market Research9 Application the theory part for this situation9 Analyzing and reporting the findings11 Conclusion13
References14 [pic]15
Introduction
Our company, Car Market Research Ltd. is a market research company. This company was... Show more content on Helpwriting.net ...
When they defined the problem, they have to set the research objectives. The marketing research has three types:1.Exporatory research 2. Descriptive
research 3. Casual research
First the company has to lead an exploratory research. Explore what the exact problem is: this includes the gathering of preliminary information that
will help define the problem and suggest hypotheses. After gathering the information from exploratory, the company needs to define another objective,
which is descriptive in this case– that is to ascertain certain magnitudes– demographic information. Some research is casual– that is to test a
cause–and–effect relationship.
Developing the research plan for collecting information
"The second step of the marketing research process calls for determining the information needed, developing a plan for gathering if efficiently and
10. presenting the plan to marketing management. The plan outlines sources of existing data and explains the specific research approaches, contact
methods, sampling plans and instruments that researchers will use to gather new data"(Phillip Kotler: Principles of marketing)
Secondary and primary research
Secondary data exist of information that already exists somewhere, having been collected for another purpose. It is a quick way to get information and
it is cheaper than primary data. Although it can not provide all the necessary data, so primary
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11. A Concise Guide to Market Research Using Spss
A Concise Guide to Market Research
.
Erik Mooi
l
Marko Sarstedt
A Concise Guide to Market Research
The Process, Data, and Methods Using IBM SPSS Statistics
Prof. Erik Mooi VU University Amsterdam Marketing Department De Boelelaan 1105 1081 HV Amsterdam Netherlands emooi@feweb.vu.nl
Prof. Marko Sarstedt Ludwig–Maximilians–University Institute for Market–based Management Kaulbachstr. 45 80539 Munich Germany
sarstedt@bwl.lmu.de
ISBN 978–3–642–12540–9 e–ISBN 978–3–642–12541–6 DOI 10.1007/978–3–642–12541–6 Springer Heidelberg Dordrecht London New York
# Springer–Verlag Berlin Heidelberg 2011 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is
concerned, ... Show more content on Helpwriting.net ...
Each chapter on quantitative methods describes key theoretical choices and how these are executed in IBM SPSS Statistics. Unlike most other books,
we do not discuss theory or SPSS, but link the two. This is a book for non–technical readers! All chapters are written in an accessible and
comprehensive way so that non–technical readers can also easily grasp the data analysis methods. Each chapter on research methods includes simple
examples to help the reader get a hands–on feel for the technique. Each chapter concludes with an illustrated real–life case, demonstrating the
application of a quantitative method. We also provide a second, real–life case with an accompanying dataset, thus allowing readers to practice what
they have learnt. Other pedagogical features such as key words, examples, and end–of–chapter questions support the contents. This book is concise,
12. focusing on the most important aspects that a market researcher, or manager interpreting market research, should know. Many chapters provide links
to further readings and other websites besides that of the book. Several mobile tags in the text allow readers to quickly browse related web content
using a mobile device (see section "How to Use Mobile Tags"). This unique merger of offline and online content offers readers a broad spectrum of
additional and readily accessible information. A comprehensive Web Appendix with further analysis techniques, datasets, video п¬
Ѓles, and case
studies is included.
l
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13. Market Research Essay
Market Research
Market research is carried out by a business before they launch a product, to find out what the target market wants and what they could do to increase
the appeal of their product. It involves thoroughly gathering, recording and analysing data and can often take a large amount of time. A wide variety of
market research techniques are used to find out what customers want. Depending on the product, customers are asked questions like: Where are they?
Can we satisfy them? How can we improve our product for them?
There are two types of market research. The first, Field or Primary Research, is the process of gathering new information about the market. The term
'field' comes about ... Show more content on Helpwriting.net ...
Questionnaires can be carried out a number of ways, including face–to–face, over the telephone or through the post.
* Testmarketing/product testing: This is when a product is marketed and tested by a small part of the total market. The aim of this is to see if the
product would be suitable for commercial release, and what changes can be made to the product to make it better or more suitable.
* Consumer groups/panels: This is where a select group of people are give a product and asked to comment in detail on what could be improved or
changed. It is probably the least effective form of field research as the sample of people is so small, that fewer opinions can be taken into consideration.
Methods of secondary (desk) research are:
* Government Statistics: Useful sources of information carried out by the government include the National Census. A full Census is carried out once
every ten years in the United Kingdom. It shows many different sets of data, including age, income, religion and where people live. Government
statistics also include the Family Expenditure Survey and Social Trends.
* Published market research information: This type of
15. Market Research Implementation Plan Essay
Market Research Implementation Plan Use of market research concerning the Yankees organizations' proposed increase in ticket, concession, and
merchandise prices to enable the organization financially to obtain a Major League Baseball (MLB) championship team. An online secondary research
resource is selected and applied to the marketing research implementation plan. Additionally, two of the four market research tools previously
analyzed will be selected to develop two survey instruments. Recommendations of sampling procedures for implementing the survey instruments are
also discussed.
Secondary Market Research for the Yankees
Is the Yankees payroll almost laughable at this point? For a better part of the past two decades the New York... Show more content on Helpwriting.net ...
New York had 20 sellouts, the most in the three–year history of the current Yankee Stadium" (Newman, 2011, para. 8). When will fans eventually say
enough is enough, or will the MLB eventually see team payrolls at three, four, or five hundred million dollars per year and ticket prices more than a
hundred dollars per game?
Although the Yankees' organization amassed $427 million in revenue in 2011, almost half of the other teams in baseball did not amass nearly half
that in revenue. The next closest team (the Boston Red Sox) accumulated $272 million. The rest of the teams accumulated the following in revenue
in 2011. The Los Angeles Dodgers $246 million, Chicago Cubs $258 million, New York Mets $233 million, Philadelphia Phillies $239 million, San
Francisco Giants $230 million, Texas Rangers $206 million, Los Angeles Angels $222 million, Chicago White Sox $210 million, St. Louis Cardinals
$207 million, Minnesota Twins $213 million, Atlanta Braves $201 million, Houston Astros $197 million, Seattle Mariners $204 million, Washington
Nationals $194 million, Colorado Rockies $188 million, Baltimore Orioles $175 million, San Diego padres $159 million, Arizona Diamondbacks
$180 million, Detroit Tigers $192 million, Milwaukee Brewers $179 million, Cincinnati Reds $179 million, Florida Marlins $143 million, Cleveland
Indians $168 million, Kansas City Royals $160 million, Toronto Blue Jays $168
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16. McBride's View of Market Research
Market research is defined as "the gathering of information about a market's size and trends" (QuickMBA, 2010). For McBride, the point of
conducting market research is to identify good markets to pursue that the bank is not already pursuing. This research should also help McBride to
determine how these markets compare to the market it already has. The company may find through the course of this research that its current target
market is the best one to target going forward, a strategy that implies further penetration of the existing market as opposed to opening up new markets.
McBride should therefore conduct market research using the available demographic information from the US Census Bureau, and information from its
own customer bases. Ideally, the company would be able to formulate customer profiles of competitors, but this information may be difficult to obtain.
McBride should aim to create a demographic and psychographic profile of its current customer base, and the same for other potential customer bases.
Differences between McBride's existing customers and the general population of the area in which McBride operates can highlight some potential
markets, in terms of demographics, income levels, education, banking behavior and other key variables. The more variables that McBride studies the
better, bearing in mind the cost of acquiring additional information.
The choice of media used in the implementation of McBride's marketing plan should be guided by the results of
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17. Market Research Report : Exclusive Weddings
Market Research Report: 
Exclusive Weddings
11th of November 2014
Completed by: Chloe–Jayne Beckett
Completed for: CJB Exclusive Wedding Consultants
A Report Researched and Published by: 
Chloe–Jayne Beckett
Table of Contents
Market Research Report: 
Exclusive Weddings1
Table of Contents 2
Executive Summary 3
Introduction3
Background Information4
Key Question4
Research Objectives5
Research Design and Methodology 5
Research Results 6
Findings 6
Impact of Results 11
Recommendations11
Conclusion11
References 12
Appendices 13 Executive Summary
The following report identified one target market to whom this service would cater to, considering cost largely of the making up of this market. Further
research also determined ... Show more content on Helpwriting.net ...
19. Case Study : Planning Market Research
Assessment Task 2: Project– Planning Market Research
Part 2: Plan Market Research
Date:10/08/16
Prepared by:Nichapat
Point of Contact: Manager (Supervisor)
Email:f_fongsaboo@hotmail.com
Executive Summary:
This marketing research will provide detailed insight to the higher management whether to go for a launch for men's clothing or not and what are the
reasons of consistent sales for last 2 quarters.
Research team will strive to answer below questions by gathering and analysing customer data
1.What are needs and behaviour of male and female customers in purchasing old brands in apparel?
2.In the tough competition of different oldand new brands what are the customer's brand preferences both for male and female?
3.What are the ... Show more content on Helpwriting.net ...
Types of dataHow much data is needed
One–to–one Interviews50 focus groupsMinimum 5 Group (min– 25 participants) literature searches10
Historical Statistics5 mail surveys100 (Questionnaire)
Surveys (Malls and public places)100 (Questionnaire)
Observations 100 (direct observations)
Secondary research will be used in this market research but focus will be on primary research because statistical data which is available is either very
old or doesn't include all the current brands in the market.
Secondary data will be collected from following sources;
Online Articles: articles will be collected from onlinearchivesfor last 6 months.
Written Articles from Magazines:Following magazines will be accessed for articles;
20. VOGUE
HARPER'S BAZAAR
ELLE
MARIE CLAIRE
PEOPLE STYLEWATCH
GLAMOUR
ALLURE
REDBOOK
Data will be collected of last 6 months only not older than that.
Business Advisors: research team has decided to contact business advisors for opinion or advice also. All the leading business advisors in the town
were contacted and evaluated. Finally XY Business Advisors are selected to get advice or opinion from. This company has extensive advisory
experience with more than a century's experience of successful advisory services. Therefore the trust level is also very high.
Data Processing: Research team has decided to outsource the data processing service, as we don't have data processing
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21. Marketing Research and Market Segmentation
MARKETING RESEARCH AND MARKET SEGMENTATION
1. 2. 3. 4. 5. Objectives: Market research, product research, price research, sales promotion research and distribution research A wide variety of
procedures used in marketing research The requirements for and benefits of market segmentation Geographic, demographic and psychographics
segmentation The value of marketing information system
1
MARKETING RESEARCH AND MARKET SEGMENTATION
Marketing research is defined as the investigation of factors related to the marketing activities of a company. Marketing research aims to reduce risk by
providing information about the factors involved and possible outcomes of particular actions. Market research involves gathering information about the
market ... Show more content on Helpwriting.net ...
Samples should be chosen at random (each member of population has an equal chance to be chosen) and in numbers sufficient to minimise the
influence of small numbers of individuals from one section of the population on the data which is gathered. Sample frame is constructed to include all
the members of the population.
6
MARKETING RESEARCH PROCEDURE: PRIMARY DATA– II
Random sampling – a sample selected in such a way that every member of the population has an equal chance of being included. (random number
tables, computer generated random numbers – elimination of conscious or unconscious bias) Non–random sampling: Systematic sampling – selecting
every nth item after a random start. The gap between numbers is known as the sampling interval. Stratified sampling – divides population into strata,
which may conform to a consumer characteristics or a market segment (manufacturer of equipment – 40% of sales come from one, 30% from another
industry – 40% of respondents from the first industry etc). Multistage sampling – divides the country into a number of areas and the small sample of
22. these is selected at random. Each of the areas selected is subdivided into smaller units and again , small number of these is selected at random etc.
Quota sampling – investigators are told to interview certain numbers of people in different categories (age, gender, product user groups). Quota
controls Cluster
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24. Market Research Crucial
Why Is Market Research Crucial to Business Today? Most of the businessmen consider market research the key to a successful business empire. It is
quite essential to conduct a thorough research to analyze the prospects of an existing or new product. A well–conducted research proves fruitful in
evaluating the business situations, the potential sales of a product, prospective customers and so forth.
In simple words, market research is the process of collecting, recording and evaluating data which relates to various products and services.
Goal of Market Research
There are many reasons why a business enterprise should conduct researches before launching a new product. Some of the most important goals of such
researches involve the following.
Analysis of existing trends: A proper and thorough... Show more content on Helpwriting.net ...
Another form of research is the consumer based research.
Primary research involves collection of data directly from the consumers. It is quite an expensive method of research though quite effective. Customer
feedbacks are collected through telephonic interviews, surveys and group discussions. The primary research is further categorized into quantitative and
qualitative research.
Quantitative research: In quantitative researches, surveys are conducted to collect numerical data. Most of the surveys include close–ended questions
which are less time consuming. It is quite easy to collect such data as consumers tend to be more co–operative. The collected data is further analyzed
for a proper conclusion.
Qualitative research: In quantitative researches, group discussions or interviews are conducted to gather information. This research involves
open–ended questions where consumers are required to answer in–depth questions. Experienced professionals are required to conduct interviews. It is
both an expensive and time–consuming method of
26. Essay on Bsbmkg506B Plan Market Research
D.A. Garden Supplies
Project Scope
Project Name: Competition Department: SalesProject Manager: Date: 10/09/2012
Prepared By Document Owner(s)| Project/Organization Role| David Smith| Managing Director| Alison Smith| Manager|
StakeholdersSponsors
CustomersDavid Smith
StaffAlison Smith
Suppliers
Management
Bank
Project Introduction
This project scope "Competition" has been designed to involve all stakeholders of D.A. Garden Supplies so that all aspects of the business can be
analysed through collecting invaluable information and data by the research methods below. Our aim is to identify the cause of the problem so that
future marketing can be targeted accordingly for positive ... Show more content on Helpwriting.net ...
The primary research will provide us with quantitative data that is easily analysed using statistical methods. A survey is carried out to obtain
information about people, such as their opinions, preferences, attitudes, expectations, likes and dislikes. This method was chosen as it directly targets
our customers and potential customers to get their opinions on D.A. Garden Supplies and the competition.
Research Reports and Internet Research – The internet is a very easy way to source secondary data that can be extremely useful as it is a good source
of industry information. Some information can be available for free like the Australian beau of statistics, newspapers, council and magazines, some
help maybe needed in determining the viability of the information and to analyse the results. Other professional research companies like Roy Morgan
27. and Ibisworld will charge a fee for their reports. This may work well with surveys and experiment research as trends or environmental factors in the
market could influence consumer consumption therefore giving invaluable information as to what may sell well or is needed in the current market.
This method was chosen as it can be easier to obtain and cheaper than the other research methods. It can also provide information on the competition,
which would evaluate what products they have been advertising and why.
Interview Staff –
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30. Traditional Market Research Methods And The Lead User Market
Traditional market research methods and the Lead User market research process share a target outcome of identifying new market or product
development opportunity. The Lead User research process differs from a traditional market research method at each step of the process, yet there are
some fundamental similarities between the two. When a company chooses a target market or product line to perform market research on, traditional
methods will often use an outside market research firm. The first focus of this firm is collecting information from current customers and sales
representatives. The typical data collection methods include focus groups, customer surveys, and also site visitations by company scientists and
product developers to see the product in–use at customer locations. In contrast, the Lead User research method starts with the formation of an
in–company project team comprised of both market and technical personnel1. The project team first focuses on performing market research on their
own within the area of interest and attempts to develop some project goals related to what the ultimate outcome of the project should be, such as an
improvement on a current product or the development of an entirely new product1. The team then gathers information related to their target market
through informal interviews. Both the traditional and Lead User process use interviews to gather date; however, the Lead User approach aims to
interview more than just customers and sales
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31. Free Market Research Paper
The United States' economy is defined as a mixed capitalist economy. This means that the economy has both private and public sectors. A public
sector is any government program or influence like welfare, taxes, zoning laws, etc. The private sector is basically any business or company that
competes in a market, this includes but is not limited to: Target, In n Out, Microsoft, family owned businesses, etc. Back in the 18th century, Adam
Smith explained how self interest and competition lead to a thriving economy. He came up with the Invisible Hand theory, that is, that people are
driven by their own interest to make business and benefit society. People are also driven by profit motive, where they are motivated by the desire for
profit and... Show more content on Helpwriting.net ...
The role of the government is stabilization and growth. Government intervention in the economy is to help and make sure it does not fall into chaos.
The 1st and 5th amendments are ways for the government to grease the wheels for the public to do business and carry it out smoothly. The 1st
amendment assures that the public has a say on how their economy is ran, so that the government does not make every decision regarding what goes
on. Since each individual has certain property rights, the 5th amendment and eminent domain assure that the government cannot take an individual's
property for a public work without compensation. Say for example, a freeway needs to be widened, but there are already houses and businesses in the
land needed, the government must pay those property owners a sum of money to compensate for the land they are taking. In addition to eminent
domain, zoning laws are put in place so that the government decides the economic activity for certain areas, such as industrial, business, residential,
and agricultural areas. All of these are put in place to ensure that the economy of that area is
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32. The Differences Between Market Research And Marketing...
THE DIFFERENCES BETWEEN MARKET RESEARCH AND MARKETING RESEARCH.
Marketing research refers to a well planned and rational study analysis and interpretation of marketing problems undertaken for actionable decision
making. Marketing research considers the more immediate situation. It is primarily concerned with the provision of information about markets and the
reaction of these to various product, price, distribution and promotion decisions. (Boone, 2006)
Marketing research can be divided into two types; external continuous data and external ad hoc data. Generally, marketing research helps in many
different ways. It gives information on consumer groups, it gives information on price, promotion, product and distribution, it gives information on the
... Show more content on Helpwriting.net ...
Market Research refers to the study of the entire market and consumer behaviour, within that market while marketing research is a well planned and
rational study, analysis and interpretation of marketing problems undertaken for actionable decision making.
2.Market research is a branch of marketing research, whereas marketing research is a component of marketing information system.
3.The scope of market research is limited as it studies about the aspects of market and consumer behaviour only. On the other hand, marketing research
involves the study of the whole marketing process, i.e. the research of advertising, pricing, packaging, policymaking and the market as well.
4.Market research is specific in nature, as the research gives an understanding about the particular market which is not applicable to other markets.
While marketing research is generic in nature, as the study can be helpful in solving various marketing problems.
5.Market research is conducted to check the viability of the product in the target market. Whereas marketing research is carried out to make effective
decisions regarding marketing activities and to keep control on the marketing of economic output i.e. goods and services. (Kotler,
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33. Market Research Project
1. Executive summary The purpose of this research report is to find out whether customers are interested in an online hypermarket. To analyze this, the
research is divided in three topics. The first one discusses the interest from customers to buy online. The second looks at drivers and barriers for people
to buy online. Finally, the third topic investigates the different product categories that Caddyhome should include in their assortment. To analyze these
topics, a market research was conducted through a face to face questionnaire and the results analyzed through a statistical program called SPSS. These
results can be found in Appendix A. On the basis of these results, recommendations are given to Caddyhome regarding these topics.... Show more
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Sample design For the purpose of our market research, we used a nonprobability sampling. We focused on people who, at least, sometimes buy online.
We used a convenience sample, which means that we asked people who were available when and where we collected our data. Our sample was
conducted among 100–150 respondents with Dutch, Belgian, French and Spanish nationalities. This should be enough in order to get some insight of
the interest of the customers for the project and derive some relevant results from it. 5. Research questions, hypothesis and data analysis I. The interest
to buy in an online hypermarket To analyze this topic we have six research questions. After we have tested the corresponding hypotheses, we give a
short recommendation to Caddyhome regarding this topic. Research question 1 Are customers interested in purchasing in an online hypermarket? H0:
Customers are indifferent to buy in an online hypermarket. (Вµ=3) Ha: Customers are not indifferent to buy in an online hypermarket. (Вµ is not
equal to 3) The questionnaire question we addressed for this research question is question 4. To test this research question we decided to use a one
sample t–test (two tailed) with a test value of 3. We decided to use a one sample t–test because we only have 1 sample (all the respondents) and our
dependent variable has interval data. The test is two–sided because the
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35. The Importance of Market Research
Market research refers to the process of carrying out extensive research to determine whether goods and services are likely to satisfy customer
requirements (Arora & Mahankale, 2013). It is way of making sure that a new or existing business rolls out products or services that will have a
positive impact in the market. Therefore, market research is an important requirement to both new and existing business holdings. In the case of new
businesses, one is likely to get financial assistance if they have done proper research on the market. This information can be used to guarantee the
success of a new business. Market research is fundamental step that should be taken by all business because of the benefits that come with it (Beri,
2008). The main argument in the paper is that market research is an essential part of a business regardless of whether they are new or not. First, it
would be important to explore the concept of market research before going deep to outline its benefits. Basically, there two types of market research,
which are Primary Market Research and Secondary Market Research. A research on a particular market is likely to return qualitative and quantitative
information. Qualitative information involves opinions obtained from different people in the market through interviews and surveys. Primary Market
Research entails interviewing or talking to customers to get their thoughts on a new product. In most cases, this kind of research will give qualitative
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36. Essay on Market Research Implementation: McDonalds
Market Research Implementation
We have come to the phase that allows Team A to apply the research tools and implement a market research plan. Team A will review various
marketing research tools that are available for researchers to use such as secondary research, secondary on–line research, exploratory research,
nondirective interviews, and the Likert scale. Our secondary research is showing that consumers are demanding healthier menu options. This market
research implementation plan will develop several market research tools; including questionnaires' and the Likert scale to verify if McDonald's
consumers genuinely want and will purchase healthier menu items.
Secondary Research for McDonald's
When researching McDonald's through ... Show more content on Helpwriting.net ...
Secondary research shows that McDonald's has made past attempts to reinvent a healthy menu option in the United Kingdom. The research shows that
McDonald's as hired a third–party advertising agency, TBWA/London to handle the initiative to promote a healthier menu and options at the restaurant
("TBWALondon wins McDonald's health brief,"2006). Research also shows that the company made a change to their famous French Fry in the year
2002. When they took this action it had mixed reviews. Although an increase to the health factor for those dining at the establishment, there were also
numerous complaints at the downslide in taste (Arthur Page Society, 2008). The secondary research shows that the hypothesis of McDonald's needing
to move toward a healthier menu in the Europe is, in fact, true. The secondary research can be used to help validate primary research conducted.
Secondary Research One of the tools that can be used is the online environment. The following are some sources that can be used to understand the
project better. In order to have a successful launch of a new product like the one analyzed demographics can be essential. This is a metric that can help
understand the target and financial investment and return. Competitive benchmarking can also support business decisions.
http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=tsieb010
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37. Manage Market research
UNIT CODE – BSBMKG607B
MANAGE MARKET RESEARCH
Training Package
BSB07 – Business Services Training Package
National Course Number and Name
BSB60507 Advanced Diploma of Marketing
TAFE NSW Course Number and Name
17857 Advanced Diploma of Marketing
Version
3.0
Campus
Newcastle
Year
2014
Semester
Onwards
Skill Set (if applicable):
Unit Code
BSBMKG607B
Unit Name
Manage Market Research
Assessment Event, Method and Due Date
Assessment Event 1,2,3 – Due 4 August 2014
Units Elements
38. Unit: BSBMKG607B Manage Market Research
Elements Covered:
1
Prepare market Research
2
Engage external consultants or service providers
3
Manage market research activity
4
Evaluate research processes and findings
Student ... Show more content on Helpwriting.net ...
To be deemed competent the learner must
Submit a comprehensive research plan
Submit a detailed report on the research findings
Devise and document measures and procedures for measuring the impact of the research information on the marketing decisions To receive a CREDIT
grade the learner must
meet all the criteria of a pass grade demonstrate creativity in the selection and execution of research methods and processes use or simulate the use of
external consultants to conduct the research prepare a detailed timing chart for the research process indicating use of resources and personnel provide
an analysis of the usefulness of the research findings To receive a DISTINCTION grade the learner must
meet all the criteria of a credit grade demonstrate superior analytical and creative skills in the selection of research approaches provide professional
standard project management documentation for the research use value analysis to evaluate the research information make recommendation on
improvements to methods and processes for future projects.
Assessment Event 1
You need to review existing policy and procedure documents (in the appendices of your Student Workbook) and develop guidelines for managing the
process of gathering research information. You also need to identify and plan to
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39. Unit 3 P3 Market Research
P3 Market Research
24/09/12
P3 Describe how a selected organisation uses marketing research to contribute to the development of its Marketing Plans. Market Research: is the
process of gathering, analysing and interpreting information about a market. You can be talking about a product or service to be offered for sale in that
specific market and about the past, present and potential customers for the product or service.
Market Research Includes: * Primary Research * Secondary Research * Quantitative Research * Qualitative Research * Purpose – Uses of Market
Research * Limitation of Market Research
Primary Research:
The Primary research is divided into 6 categories; here you can see them below ... Show more content on Helpwriting.net ...
Some research was already available because they have launched the product line 501 before, Levi's just wants the product range of the 501 to be
more known throughout the world and bring out new denim styles. Levi Strauss main goal was to upgrade their company to a premium one. They a
gap in the market higher than their brands and didn't hesitate to take that place and make Levi Strauss a more upmarket denim store but not so
expensive for the general public to buy.
Levi's brought the 501 line in 1960 but people thought of the product has a bit old fashion, so they had to do this market research to increase the
market share and make them more popular has they are now. Levi's made TV ads, radio commercials, outdoor market, digital and non–traditional
campaigns. If you went to a Levi Strauss store on 5:01 pm you would get discount and made a 501 twitter and Facebook to increase engagement and
drive conversation with d among e 501 community. They had a 5:01 slogan "501 original jeans" and "Levi's. Its who you are."
In just a few months Levi's had an increase of 3% in the market share, had 100,000 more Facebook friends, 1,000 YouTube subscribers and an average
of 100 tweet mentions daily.
Method | Advantages| Disadvantages| Telephone interview– a structured set of questions is recommended| Easy to carry out, fast and
41. Market Research Essay
Market Research – the global scenario
Marketing research is a very vital part of any marketing intelligence system and helps improve the management decision making by providing
information that is relevant, accurate, precise and timely. Every decision that poses unique needs for information and related strategies can be
developed based on information gathered through marketing research in action. Too often, marketing research is considered narrow for the collection
and analysis of data for others to use but still they come in very handy. Firms can achieve and maintain a competitive advantage through the creative use
of this market information. Thus marketing research can be defined as the decisions made on the basis of input information ... Show more content on
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Factors that influence this decision include the following–
Relevance Type and Type of Information Required
Time
Availability Resources
Cost–Benefit Analysis
Although this study was to generate information, managers are not eager to use this information to solve their problems as it may contain faults or not
what the manager perceives.
The factors that influence the decision of managers to use research information are:
The quality of the research
Compliance before expectations
Clarity of presentation
Political acceptance in the firm
A challenge to the status quo
Researchers and managers agree that the technical quality of the research is the determination of the use of research. Also, the managers are less likely
to use research that does not conform to the notion before or is not politically acceptable.
Some researchers argue that the use of information is a function of direct and indirect effect on the environment, organization, information, and
individual factors. However, researchers should not alter the findings to match the response before the manager. In addition, managers in user
organizations are less likely to use the results of their research counterparts in industrial firms.
Ethics refers to moral principles or values that normally control the behavior of an individual or a group. Researchers have a responsibility to their
profession, their clients and the respondent, and must comply with the
43. Market Research: Consumer Goods
Consumer Goods Introduction and Purpose: What are consumer goods? Consumer goods are new items intended for sale to consumers, and are
different from capital goods. There are three major types of consumer goods. The first is durable goods. These are meant to be used continuously or
repeatedly for over 3 years, such as appliances and cars. The second type of consumer goods is semi–durable goods, which can be used on multiple
occasions and have an expected lifespan of 1 to 3 years, such as clothing, shoes and linens. The third type of consumer goods is non–durable goods.
This are designed to be used only once, such as food and gas, but could also include goods of little value used a few times, such as cleaning supplies....
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This growth is expected to continue over the next few years as new technology is a main focus. In addition to general growth, consumer behavior has
been changing. The general consumer population now considers luxury items as necessities, and the preference is now for high–end products, which
are technologically superior. Market Research: The consumer goods sector spans thousands of brands over hundreds of companies and over several
different industries. The following research covers three of the most recognizable names in the sector; Proctor & Gamble, PepsiCo and Mattel.
These companies are ranked first in the Processed & Packaged Goods, Personal Products, and Toys & Games industries respectively in
terms of market cap. Figure 1 Proctor and Gamble, Household Products, NYSE: PG "P&G has built a rich heritage of touching consumers' lives
with brands that make life a little better every day." Procter & Gamble is a producer of branded consumer products marketed domestically and
internationally in 180 different countries. Proctor & Gamble brings to market many household brands including Tide, Pringles, Olay, Charmin and
most recently Gillette just to name a few. Distribution channels include mass merchandisers such as Wal–Mart, grocery stores, membership clubs and
drug stores. Proctor & Gamble's top 10 customers, including
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44. Case Study : Planning Market Research
Plan market research
Assessment Task 2: Project– planning market research
Part 1: Identify and present market research needs
The first part of this project requires you to prepare and present a power point presentation to your assessor and class colleagues. Your presentation
should last approximately 10 minutes. Your power point presentation should clearly explain and provide sufficient detail on:
1.General information on the function and importance of market research.
2.The company's position in the market place (and including market trends) and why you believe market research would be of benefit to the company.
3.A statement of what you believe the company's market research needs are (and as discussed with your assessor in meeting prior to commencing Part
1) and based on the documentation that you have reviewed. You will also need to state what the documentation is and explain how it assisted you to
come to your decision about what area of market research would be most useful.
4.Draft objectives for the market research to be conducted.
5.A scoping of the proposed market research that describes timelines for conducting the research, human, financial and physical resources required,
whether the market research can be conducted by internal staff or if external assistance is also required, possible methodologies, sample size, etc.
At the end of your presentation you should seek feedback on your presentation and the planned market research, including research
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45. Essay on Market Research
Market Research
Market research is to provide information that helps the business 'to recognise and respond to market opportunities and to develop suitable products to
marketing needs'. Primary and secondary data.
There are two main sources of market research–Primary and secondary sources.
Primary data.
This type of research requires obtaining new data. The marketing department gather the data by e.g. Interviews, telephone, post, and questionnaires.
Primary data may be collected in the following ways:
Observation– although this is one of the simplest methods of research it is not very efficient. The methods consists of observing whatever is under
observation to find out consumer trends.
This method is not effective ... Show more content on Helpwriting.net ...
Using this method the agency can be certain that the quotas are an accurate reflection of the total population.
Telephone surveys– this method is less expensive and time consuming. The interviewees are likely to have been selected from lists which are brought by
market research firms 'and which are complied through individual:
– Living in a particular area.
– Purchased a car of a certain value.
– Booked a foreign holiday.
Questionnaires – Manufacturers and suppliers can achieve higher responses giving away a free gift in return for the completion of a survey. This
method usually only provides a very low response. This is a very cheap method of research, it also avoids the problem of the interviewer to being
biased and it allows more time to think about answers.
46. The types of questions, which are used in questionnaires.
Questionnaires are to find out about: people's opinions, factual information and judgements. The quality of the answers depends on the quality and of
the answers depends on the quality of the questions.
Closed questions– this is designed to receive one result from two alternatives.
E.g. 'Have you ever used Radio Times, on a regular basis, to plan your TV viewing/Radio listening, but do not now?
YesNo
Open questions– this is designed for personal
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47. Evaluating the Limitations of Market Research
Explain Limitations of Market Research
Part of planning market research is outlining the flaws and limitations of the research itself. Any weaknesses in the research must be identified so they
can be improved on. There are a number of limitations that may affect the results found by market research.
Reliability is vital when trying to find out information about large target populations. To avoid poor reliability, the sample chosen to participate in the
research should be representative of the whole target population. The correct target sample must be established so that reliability is not a limitation of
the research.
To improve poor reliability due to target sample, a list of the target population could be created and then have... Show more content on Helpwriting.net
...
However, they must be careful in selecting the right sample for certain questions. If the Vodafone market research team would like to know what
customers opinions are regarding Vodafone 's 3G Internet service, and they would need to carefully select a representative sample of people who have
3G Internet on their phones. It can be assumed that Vodafone has the ability to generate a list of all users who have Internet usage through their
network so choosing a sample from the target population should cause no difficulty. Using a computer, asample size can be derived from random
selection or through systematically selecting proportional numbers of people from different countries in which Vodafone operates.
In order to increase reliability by using a large sample size could mean sacrificing their ability to gain quantitative data. Trying to generate the wrong
type of results could mean gaining too much or too little information to gain a real understanding of what people think of the internet services provided
to them. Analysing and interpreting data from such a large sample could prove difficult if results were qualitative. Whether being analysed by humans
or by computers counting commonly found words, this would be a lengthy process. It could be recommended that Vodafone conducted their research
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48. General Information On The Function And Importance Of...
Plan market research
Assessment Task 2: Project– planning market research
Part 1: Identify and present market research needs
The first part of this project requires you to prepare and present a power point presentation to your assessor and class colleagues. Your presentation
should last approximately 10 minutes. Your power point presentation should clearly explain and provide sufficient detail on:
1.General information on the function and importance of market research.
2.The company's position in the market place (and including market trends) and why you believe market research would be of benefit to the company.
3.A statement of what you believe the company's market research needs are (and as discussed with your assessor in meeting prior to commencing Part
1) and based on the documentation that you have reviewed. You will also need to state what the documentation is and explain how it assisted you to
come to your decision about what area of market research would be most useful.
4.Draft objectives for the market research to be conducted.
5.A scoping of the proposed market research that describes timelines for conducting the research, human, financial and physical resources required,
whether the market research can be conducted by internal staff or if external assistance is also required, possible methodologies, sample size, etc.
At the end of your presentation you should seek feedback on your presentation and the planned market research, including research
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49. Importance Of Managing Global Market Research
With the economy becoming more and more competitive with each passing day, having the most current knowledge about concerns and preferences of
consumers is key for success. With effective global market research, your company can gain invaluable information about their competitors, economic
shifts, demographics, the current market trends and the spending traits of you're the customers. In this essay we will be reviewing the article "Living
in a global world" and explaining the importance of global marketing research. In this article the importance of conducting global market research is to
understand the importance of how consumers from developing countries evaluate global brands from developed countries. Conducting research will
allow companies to understand the attitudes of their market consumers. Knowing the attitudes of your consumers will allow the company to know
what is preferred and being sought after. Companies then can become to have a clear understanding of how to improve, increase revenue, and how to
satisfy customer wants and needs. In this article the author "proses that global orientation, including global consumption orientation and global identity,
are key factors accounting for the attitude variance" (Guo, X., 2013, pg. 1). The competitive environment plays an important role in any business, but
is the key success factors in global businesses. One of the main factors that developing countries must consider when entering or emerging markets is
the
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50. Assignment For Unit 10 Market Research
Course
BTEC Level 3, 90 Credit Diploma in Business
Unit / Module / F Skill
10
LEVEL
3
Assignment Title
Market Research in Business
Lecturer/Assessor
Terence Bowrage
Issue date
25/03/2014
Submission date
23/04/2014
Student declaration
I declare that this assignment is all my own work and the sources of information and material I have used (including the internet) have been fully
identified and properly acknowledged as required.
I understand that plagiarism of any kind will not be tolerated, and may result in grades being revoked and that I may be subject to disciplinary action
STUDENT NAME
SIGNATURE
Assessment Details & Grading Criteria
(NB: Tasks, criteria & evidence should be aimed to give the learner the maximum grade ... Show more content on Helpwriting.net ...
This must explain what you have done for P3 in Task 3.
(M2)
51. Continue your report with an analysis of your market research findings for P5 in Task 5. Make conclusions on what you have found and recommend a
marketing strategy.
(M3)
M1
Explain with examples how different market research methods are appropriate to assist different marketing situations.
M2
Explain the reasons for choosing the particular method of data collection for a selected product/service.
M3
Analyse the research findings and make recommendations on how marketing strategies could be adapted or implemented.
Report
7.
You need to evaluate the market research for a selected organisation. You can choose the case study of either JD Sports or Jessops (web materials are
referenced on Moodle). You will extend the work you have produced already in previous Tasks.
(D1)
Evaluate the findings from the market research you have undertaken. You will need to explain the strengths and weaknesses of the methods you have
chosen and how they could be improved. Comparisons with the evaluation made for D1 should be included.
(D2)
D1
Evaluate the market research method used by a selected organisation.
D2
Evaluate the findings from the research undertaken.
Written evaluation
NB: Please note when marking learners feedback all assessors should indicate on the work where grading criteria has been met by indicating
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52. Global Process Analytical Instrument Market 2014-2018...
Analysts forecast the Global Process Analytical Instrumentation market to grow at a CAGR of 3.47 percent over the period 2013–2018. One of the key
factors contributing to this market growth is the need to comply with stringent governmental regulations. The Global Process Analytical
Instrumentation market has also been witnessing the emergence of technically advanced instruments. However, the need to offer customized
instruments could pose a challenge to the growth of this market. Global Process Analytical Instrumentation Market 2014–2018, has been prepared
based on an in–depth market analysis with inputs from industry experts. The report covers North America, Europe, the APAC region, and the ROW; it
also covers the Global Process... Show more content on Helpwriting.net ...
Market Segmentation by Product 07.1 Global Process Chromatographs Market 07.1.1 Market Size and Forecast 07.2 Global Process
Spectrophotometers Market 07.2.1 Market Size and Forecast 07.3 Global Process Liquid Analysers Market 07.3.1 Market Size and Forecast 07.4
Global Process Gas Analysers Market 07.4.1 Market Size and Forecast Complete report of 60 Pages is available @ http://www.reportsnreports.com
/reports/276119–global–process–analytical–instrument–market–2014–2018.html 08. Market Segmentation by End–users 08.1 Global Process
Analytical Instrumentation Market in the Chemical and Petrochemical Industry 08.1.1 Market Size and Overview 08.2 Global Process Analytical
Instrumentation Market in the Oil and Gas Industry 08.2.1 Market Size and Overview 08.3 Global Process Analytical Instrumentation Market in the
Pharmaceutical and Biotechnology Industry 08.3.1 Market Size and Overview 08.4 Global Process Analytical Instrumentation Market in the Water and
Wastewater Industry 08.4.1 Market Size and Overview 09. Geographical Segmentation 09.1 Process Analytical Instrumentation market in North
America 09.1.1 Market Size and Forecast 09.2 Process Analytical Instrumentation market in Europe 09.2.1 Market Size and Forecast 09.3 Process
Analytical Instrumentation market in the APAC Region 09.3.1 Market Size and Forecast 10. Buying Criteria 11. Market Growth Drivers 12. Drivers
and their Impact 13. Market
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53. Market Research Report
Market Research Report
Pepsi Cola
MKT201: Market & Audience Research
Brand loyalty of generation Y to the Pepsi–Cola brand
Table of Contents
Summary of Background2 Marketing Problem3 Research Methodology4 Research Objectives4 Hypothesis5 Marketing Research Problems5 Analysis
Steps Taken6 Statistical Procedures7 Findings from Analysis8 Recommendations and Implications9 References10 Appendix 111 SURVEY11 Appendix
213 SURVEY RESULTS13
Summary of Report
Pepsi–Cola brand is a brand that has been established within the refreshment industry since the 19th century. Pepsi pride the business of consumer
products in beverages and snacks, on being one of the best in the world. They seek ... Show more content on Helpwriting.net ...
This 'random sampling error' indicated that there was no cross section of the target group (generation Y) and in turn was a sample selection error.
There were 3 respondents whose results were not analyzed, as they did not fall into the target group of generation Y and this was an administrative
error. This is another common research problem is survey non–response. Marketers can unintentionally design surveys which many customers choose
not to respond to.
Survey bias is the next potential survey research problem that can be likely to occur. In survey sampling, bias refers to the tendency of a sample
statistic to systematically over or under estimate a population parameter. At the time of the survey, we are to assume that the chosen sample is the
representation of the 'Gen Y' population and that information provided by the respondents is both accurate and honest. It appears that there was a
response bias due to the unconscious misrepresentation and misplacement of the 'Pepsi' logo at the top of the survey. This was inadvertent but may
have led to a response bias where the respondents appeared to have been influenced by an auspices bias – a bias in the responses of subjects caused by
their being influenced by the organization conducting the study (Zikmond et all, 2011).
54. This survey was conducted at a local supermarket in South Australia. The survey was performed as a voluntary activity and generation Y customers
were not forced to
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55. What Is Market Research?
What is market research? According to authors Mullins and Walker, market research is the design, collection, analysis, and reporting of research
intended to gather data pertinent to a particular marketing challenge or situation (2013, p. 167). The market research process is broken down into six
different steps: defining the research objective and identifying the managerial problem, determing data sources and research approaches, determining
the research design, collecting data, analyzing the data and reporting the final results to the decision maker. The most important and first step of
conducting an actionable marketing research is to clearly identify the managerial problem so an effective research can be established. In this step it
is important to ask questions on examples such as the market size or growth rate, determine the price model of a product or service, and assess
supplier power in this industry. All of these questions will lead to having a defined research objective and goal for the company. Often times,
management doesn't have a clear objective which means the research will not be focused and effective, which can lead to loss of company capital.
Now that you know your research objective, the second step in the marketing research is to determine which data source is required along with the
appropriate data research approach. Marketing research consists of two types of data resources: primary and secondary resource. According to our
textbook, primary data are
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56. The Main Types Of Market Research
Introduction
For this first assignment I will provide a manual that shows the main types of market research. Market research is the method of gathering and analyse
information about customers, competitors and the market. Market research is used when companies want to focus on things like market trends,
customer habits and lifestyle, what price customers will pay for a product and what competition exists. This type of research assists companies build an
idea on how competitive the market is also business owners can price their products efficiently with the understanding of the current market research.
Primary research
This involves the collection of new information for a specific purpose. The following are 3 examples of various methods ... Show more content on
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Eg: changing the price of a product and seeing what happens. The advantages of using experiments is that you can create real–world, concrete and
verifiable findings that can be repeated. This is the most believable way for a general populous to accept a finding of a research team. There are also
disadvantages like high costs of performing experiments and it can also be dangerous. In addition, experimentation can involve a long period of time
waiting for something to happen; oftentimes, multiple trials are needed to confirm findings.
3. Surveys, surveys are one of the most frequently used methods of market research. It typically involves the use of a questionnaire (enquette). There
are several ways of conducting a survey, I chose for face–to–face. This is the best form of contact. It allows two–way communication between
researcher and respondent. Eg: A questionnaire asks people in the streets a few question/opinion. The advantages of using surveys is that it is flexible,
gestures, facial and other expressions may be noted. The disadvantage of face–to–face is that it may become distorted as a result of the interpersonal
relationships between interviewer and interviewee
Secondary research
Secondary research involves using existing information rather than finding out new information. The two main sources of secondary research are: 2
types: internal (Information that