Essay
P3 plan market research for a selected product/service using appropriate methods of data collection
- Course
- Institution
P3 BTEC Business Level 3 Extended Diploma unit 10
[Show more]
Seller
Follow
Dvacarciuc
Reviews received
Content preview
Unit 10 Market Research in BusinessP3: Planning a simple research
1. Name, Define & Explain your topic of Market Research.
I am going to run a market research based on the topic Popularity of cocktails
therefore i am looking into finding the answer of the question ‘’who drinks more
cocktails females or males?’’ based on the Black Horse pub.As a result i would carry
out a primary and secondary research in order to gather valid and accurate data
from the sample i carried out the research on.Therefore this research would be done
in order to be able to find out who would prefer to drink/purchase our cocktails so
that we could focus more on that category of people through advertisements so that
we could attract more and more customers in order to increase our sales.
Firstly the primary research would be carried out through surveys because is
easy ,simple and involves less resources and less time for preparing and carrying it
out.
Secondly the secondary research method would be done through internet as is also
cheap to carry out and doesn't involve too much effort into finding out the
information.
2. Briefly write a background to your organisation & its products/services.
I would carry out my research in a pub that is called The Black Horse ,because this
is one of the most popular locale where is both visited by male and female.As a
result The Black Horse pub is a stunning destination venue, located in the village of
Iver Heath. The location of the pub means that guests are able to visit one of the
many ‘Pick Your Own’ farms close by – ideal for all ages in the warmer months, as
well as Pinewood Studios, the home of the British Film industry.
In this venue the main threat for their customers are their alcoholic drinks which are
cocktails however based on the popularity of the venue it is not known who serves
more cocktails men or women.Based on the pub's experience they are saying that
their most popular cocktails are the sex on the beach, mojito, margarita and
cosmopolitan.
3. State the objectives of your research. (Why this research is essential?)
In order to find out about my customers wants and needs for future success and
development i need to set up the objective of my research which are :
1. To identify the customer’s satisfaction - This would be the first objective of my
research which is to identify if the customers are happy and satisfied with the
product that i am serving.If the customers would be not satisfied than i would
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 Dvacarciuc. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.76. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78252 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now