Unit 22 - Market Research (BTECEXTENDEDDIPLOMAINBUSINESS(FF3NBUS1W1))
Institution
PEARSON (PEARSON)
in this assignment i covered p1 m1 and d1
Justify the use of using specialist marketing agencies for carrying out original market research.
Assess, using suitable examples, how different market research methods are appropriate in helping to meet marketing objectives and inform decision making....
Unit 22 - Market Research (BTECEXTENDEDDIPLOMAINBUSINESS(FF3NBUS1W1))
All documents for this subject (39)
1
review
By: pmckay495 • 3 year ago
Seller
Follow
businessessays4u
Reviews received
Content preview
P1 Explain the range of market research methods used by a
selected business
This report is for the manager of the company of the selected business I have chosen which is Imran
tandoori shop as the report is mainly about range of market research methods the firm is using. Social
media and in person survey for market research which are useful as the larger the quantity of the
sample is the more reliable the outcome of the result are going to be and the firm would know what to
improve on with the given feedback from the customers of their shop.
One market research for Imran Tandoori uses is social media as it's an effective way to let other people
know about your business and would make others recognize your business and Imran Tandoori would
want to have a better knowledge and understanding of their clients by what type of food they like and
what the shop offers as social media is a great way to get stated with your business by posting the meals
the shop has to offer users would be more interested to come by to the place and try it out .
In person surveys are one to one interview type of surveys which are based on real life in high traffic
locations such as shopping centers Imran tandoori is located near other shops but isn't in a shopping
center so it's not likely to get noticed as much if it was in a shopping center where people would be at
shopping.
enable you to give people surveys of your products and let you know immediate feedback on what they
think of your shop for example if my chosen business wanted to get better feedback they would try an in
person survey and go out with questions about the food and then let people review the shop and give
immediate feedback on it and in person surveys can generate response over 90% but however they are
costly with time and labor involved.
Phone surveys are cheaper than in person surveys but are more expensive than mail surveys however
due to consumer resistance to relentless to phone marketing, getting people to participate in a phone
survey with my chosen business Imran Tandoori has become more and more difficult as the years pass
and hone surveys usually only get about 50% to 60% of responds from people willing to take part which
is very lower than in person surveys.
Mail surveys are also another way market research technique the company uses which is also a lot more
effective than the normal standard surveys people use. way to reach a huge audience for Imran
Tandoori but as they are much more cheaper than in person and phone surveys but usually they only get
respond rates till about 3% which isn't a lot and this is why in person surveys are more efficient .as
you're directly reaching out to the people where as a mail people could open it and are more likely to
choose to ignore it. And with phone calls and in person people are less likely to
Online surveys however generate an unsure and unpredictable response rate from people which gives
unreliable data as its unpredictable so you don’t know how many people are likely to respond or not as
you got no control over the responders but an online survey is very simple way to gather opinions and
preferences. Imran Tandoori doesn’t really have a website so it would be more beneficial for them to
start up and run a website where people can do surveys for feedback. Therefore, they don’t do this
method and have chosen in person surveys for Imran Tandoori.
, Focus groups uses a series of question and topics to lead a discussion among a team of people and
these session would take place a in neutral facility with vide tapping involved to get live reaction of the
clients to make an overall observation . Usually a focus group lasts around 2hours and it takes at least
three groups to get an overall balanced result. So, for my chosen business Imran tandoori I sat down
with the employees and had a discussion and live reaction on tape with the clients where we got 10-15
clients from different backgrounds asked what they want done different with the shop. In overall
observation clients wanted the meat to be halal for religious purposes and to jave the shop make their
own signature sauces and also by making the food halal people would be able to eat meat at the shop
without feeling bad for so in overall Imran Tandoori decided to make their meat halal to attract more
customers. Usually with focus groups you don’t get the clear results which makes interesting to see how
the people are going to respond to this.
Personal interviews are much like focus groups include unstructured and open-ended questions they
usually also last an hour or two just like focus groups and are also recorded. Focus groups and interviews
provide a more personal data than surveys do and there for are not as good as the data survey provides
as the results aren't very reliable because they usually don’t represent a large enough segment of
population however focus groups and interviews gives us the inside opinions of what the customer
thinks of the product and therefore are an excellent way to discover faults and issues to the new service
development.
Observation each person's response to the focus groups and surveys could also sometime be out of
order meaning they are odd with people's actual attitude. When you observe a consumer in action you
usually video tape them in store or at work or wherever you are and observe how they buy the product
e.g like by cash or credit card or apple pay you. This gives you a more reliable image of ways the
customers use to purchases their product and shows shopping patterns.
Imran Tandoori use census data which is collected by the council to let the authorities have a more clear
knowledge where their main target audiences are located at as this would save them money of
advertising as glancing at census data helps the firms save time and effort to make decision where to
advertise in direct areas on social media.
Once the data has been collected from the in-person surveys firm such as Imran Tandoori would use it
to improve their strategy to attract customers. the hygiene of the food has been rated ok the firm could
improve on their hygiene by coming up with a strategy to be more cleaner however the feedback from
the people is crucial as the business knows what to improve on with given feedback because if hygiene
is bad then the customers wouldn’t want to come by and the place would lose its reputation and loyalty
from its customers by preventing this from happening the shop would want to improve it by keeping the
place more neat and clean for better reviews and more satisfied customers with their branch.
M1 Assess, using suitable examples, how different market research methods are
appropriate in helping to meet marketing objectives and inform decision making
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller businessessays4u. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.41. You're not tied to anything after your purchase.
