P5: interpret findings from the research presenting them clearly in an appropriate format.
M3: analyse the research findings and make recommendations on how marketing strategies could be adapted or implemented.
D2: evaluate the findings from the research undertaken.
Interpret findings from the research presenting them clearly in an appropriate format & analyse
the research findings and make recommendations on how marketing strategies could be adapted
or implemented.
In this task I will present the findings from the market research I carried out in Wolverhampton to
the entrepreneur so they can make an informed decision about whether it would be a good idea to
open a new stylish coffee shop. I will then fully analyse each set of data and what the results mean
to the potential future business.
1. Which café in the local area is your
0%
favourite?
5%
10% Costa Coffee
I included this question in my questionnaire to find
5% Starbucks out the most popular coffee shop in the local area
45% Zuri Coffee and who the strongest competitor would be. From
Coffee Moments this I discovered that the most popular shop in the
Café 3:16 area is Costa Coffee. Competing against this large
35% company which has been established since 1971 will
Other
be a tough task because they are a trusted company
which know how to be successful in the market and
what the public want. Finding out why customers like
different types of coffee shops will benefit my client.
For example seeing which unique selling points are the most successful and deciding whether your
unique selling point will attract customers. It will also help to analyse different companies marketing
campaigns and find out what it successful and what is not.
2. What do you like about that store the most?
This question shows us what customers are most interested in;
we also can see that customers favour coffee shops mainly due Location
to location and good customer service. In order to be better
than competitor coffee shops it is important for you to ensure 10% Fair price
the premises for your coffee shop is in a good location (e.g. in 25%
15%
the town centre, so it is easy to get to), and spend a good Friendly staff
amount of time searching for the friendliest and best staff to 10%
recruit. It is equally important for you to offer a variety of goods Variety of
and services in your shop at a fair price. If you succeed in all of 40% goods
these aspects then your coffee shop is likely to draw in Other
customers and make them favour your shop over competitors,
making you more likely to reach the break-even point and make
a profit in a short length of time.
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 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 ellieemaesmith. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £3.89. You're not tied to anything after your purchase.
