Essay
P3 plan market research for a selected product/service using appropriate methods of data collection
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- PEARSON (PEARSON)
P3 BTEC Business Level 3 Extended Diploma unit 10
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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
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