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This was to do with one of my modules in 2nd year I received 1ST for this report. This is the new research marketing report that will link to other business modules
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Research For MarketingAurelia Obuchowska
N0793511
Research For Marketing
MKTG20448
Research proposal
Aurelia Obuchowska
N0793511
Word count 3997 words
1
,Research For Marketing
Aurelia Obuchowska
N0793511
Report on Igloo Hostel
Table of contents
Executive summary and recommendations Page 3
Introduction Page 3
Review of the organisation’s markets and Page 3
products
Porters 5 forces Page 4
Review of organisation’s internal capabilities Page 5
Opportunities and problems Page 5
Justification for research Page 6
Objectives Page 6
Proposed method Page 6
Questionnaire Design Page 8
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,Research For Marketing
Aurelia Obuchowska
N0793511
Pilot Instruments Page 8
Questionnaire evaluation and interview Page 9
schedule evaluation
Data analysis and key findings Page 9
Discussion Page 12
Conclusion and recommendations Page 15
Research limitations and reflections Page 15
References Page 15
Appendices Page 17
Executive summary and recommendations
This report looks at Igloo hostel and the different stages when conducting a market
research report. The hostel was established in July 2015 (Igloo 2018). The
accommodation that is being provided is quirky, therefore the objectives that have been
set for this hostel are to conduct research in Nottingham to identify male and female
traveller needs in a hostel between the ages of 18 to 22 over 6 months month and
perform a study exploring the insights of public perception from males and females
between the ages 18 to 22 over 6 months.
The report then explores what research method has been proposed. In this case
quantitative research was chosen as 50 NTU students are being targeted. Therefore, a
questionnaire will be used to collect this data and analyse it. Once, the data is gathered
it is then put into graphs so that analysis can be done to ensure that the data collected
relates to the two objectives.
The objectives were to gain insight on public perceptions of a hostel and to find out what
their needs are. From the data that was collected it has shown that public perceptions on
a hostel are mixed and the most important need for the hostel to be cheap (cost).
By Igloo receiving this information, they will be able to make necessary changes in order
to expand their customer base. If this information isn’t enough then Igloo will be able to
use a bigger sample size including every age so that they get more accurate results.
Introduction
In this research proposal Igloo Hostel will be assessed on markets and products, then
there will be a review of the organisation’s internal capabilities. As well as an
identification of the opportunities and problems that lead to the justification of research
that will highlight the objectives for the organisation to be successful and lastly a
proposed method will be reinforced.
The Igloo Hostel was established in July 2015, the hostel is a quirky accommodation that
offers Japanese inspired sleep boxes and Igloo pods that were inspired by lots of
travelling. Igloo is medium quality for low costs (Igloo, 2018). The hostel also offers free
tea and coffee to all their customers.
Review of the organisation’s markets and products
Pestle
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, Research For Marketing
Aurelia Obuchowska
N0793511
Political
The biggest factor that could have an effect on Igloo would be Brexit. The constant
uncertainty round coming out of EU can prevent Igloo from making serious financial
commitment decisions. Brexit has already made an impact on many businesses as well
as Igloo. Brexit is predicted to bring in a slump in revenue worth £22.5bn referred to as
tourism deficit (Calder, 2019). The tourism has dropped by 3%, this is equivalent to
1.2m travelers. Translating this to money its 7% less spending which is £1.6bn a year.
Igloo main target market is travelers that need a short stay. Tourism deficit might have
a potential large impact on Igloo and their position on the market. As this is a small
sized business with only 2 established hostels in Nottingham. Lack of tourists will mean
less revenue.
Economic Factors
Economic factors that could have a huge impact would be recession and future growth.
Another factor that will impact the hostel is the economy. Economy is what the country
is measured against its manufacture and utilisation of its services and good that it offers.
UK’s economy is measured every quarter to see and predict future growth or recession
that the country might face. The latest report suggests that 0.1% fall in economy in the
last 3 months to September, following another 0.2% fall since the beginning of the year;
there is a high risk of UK going into recession (David, 2019). These figures are the worst
since the announcement of leaving EU in 2016. Falling economy will impact Igloo on a
large scale as people will be more cautious of sending their money and will have less
disposable income, so they will travel less. Looking on a broader scale, as already
predicted that tourism will decline in the next coming years, recession might even
increase that number as all the prices will be increasing which means Igloo will have to
increase the stays to survive on the market.
Social
As the living costs are increasing rapidly, the low-income families are struggling to make
it till payday. It is estimated that by 2.7% the costs of households have increased
between 2006 to 2018 (Partington, 2019). This could lead to lifestyle change, having to
look for cheaper alternatives like instead going abroad, planning a holiday in the UK in
another city with different activities. With Igloo offering cheap prices this could attract
families to book in.
Porters 5 forces
Buyer power
The buyer power for Igloo is high due to the fact that not all the rooms get sold out
(Igloo, 2018) and there are many competitors on the market, meaning that there is a
risk of people losing interest in Igloo and going elsewhere due to better offers.
Therefore, if Igloo try to attract more customers, they will be able to maintain a good
revenue.
Threat of substitutes
The threat of substitutes for Igloo is high due to a vast plethora of other competing
hotels at a large scale such as premierInn and Hilton. This means, that Igloo will need to
create a strategy to ensure they stay ahead of their competitors such as keeping their
prices low and providing better quality service.
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