For M1, learners should analyse the standards of working conditions that might
reasonably be expected of a professional manufacturer or service provider in two
selected organisations. Analysis in this context could relate to a ‘walk-through’ of the
environment, identifying obvious issues such a...
explain methods used to identify the target market for the proposed business
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Level 3 BTEC Business Extended Diploma
UNIT 36 M1 - Explain methods used to identify the
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Unit 36 - M1
FOR NOTES AND GUIDLINE PURPOSES ONLY, COPYING THE
WHOLE DOCUMENT WILL BE COPYWRITE.
USE SENSIBLE.
In this assignment I'm going to explain methods used to
identify the target market for the proposed business
To identify my target market for my Clothing retailers I am
going to use primary and secondary market research. Market
research is finding out information about what potential
customers want and need in order to meet their satisfactory
standards. I am going to use 2 methods of primary research
and 1 method of secondary research. These include: Surveys,
focus groups and the Internet/Publishes books & magazines.
These chosen methods should provide enough information of
which I can use to decide what I should do with my business.
Surveys & Questionnaires
Collecting surveys is the first of the primary methods I am
going to use. I am using this method of research as it is easy
and efficient/ it is specific to my business needs. The
advantages to collecting primary research are that the
information that I obtain will be up to date because will be
recently collected. It will also meet my specific needs as all the
question I will be asking will be related to what I need to know
for my business. Also, it is unique information, fresh so I can
make improvement straight away. In addition, competitors
cannot use this information as it my information which I have
gathered.
Although, there are disadvantages to using this method, and
that is that it can be very expensive and time consuming to
run. This is because to produce valid results I will need to start
from scratch meaning that I am going to need to obtain
resources and equipment and then spend a lot of time handing
out and collecting the survey sheets.
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