Market Research

Secondary information is data which is derived from primary information and can be found via books, newspapers, internet etc. Secondary information is less reliable than Primary information because you cannot be certain as to how precise it is.

Devise and document measures and procedures for measuring the impact of the research information on the marketing decisions

Focus group is a group interview. The group is made up of people with the same characteristics and ask them questions about something or someone. The response they give will be recorded and use as reference when making a decision.

M1: Explain, with examples, how different market research methods are appropriate to assist different marketing situations. Looking back at the market research methods that could be used to collect information, methods such as questionnaires/ survey, observation, focus groups, experimentation, internet, website monitoring etc. I am going to select 3 primary and 3 secondary methods of research from the ones I have written about. I have chosen 3 primary researches which are: •

For the purpose of this essay, I have taken into consider two organizations from the fast food industry. I chose McDonald 's as it is primary operator in this market and holds the highest market share. I chose Hungry Jack 's as the product they offer is similar to McDonald 's and I thought it would be interesting to compare marketing strategies of two organisations which offer a fairly similar product.

By analyzing consumer preferences and satisfaction across different areas of fast food and especially those of Wendy’s fast food stores and those in the macro fast food environment and employing proper analysis to gain an in-depth understanding into these trends, will allow for the understanding of trends in the market and to then be able to target weaker areas where Wendy’s might be lacking. The successful application of strategy to this areas could potentially lead to a number of results or a combination of, including an increase in profitability, market share and/or customer satisfaction, among others.

Using the index you can alphabetically pinpoint the information you’re looking for and turn to that page to read about and implement the information into to your research.

Market research is an organized system of collecting and analyzing information to help in marketing decisions. Qantas undertakes effective market research in order to gather sufficient information to allow them to undertake proficient analysis of their collected data to direct their marketing decisions. Encompassed within the marketing process, there are many stages:

Market research analysts evaluate the current market and customers’ wants and opinions in order to form reports and plans, which is crucial to the success of a company. They utilize surveys and other data in order to create the reports for the company to use. They work in an office setting, although travel is often required for some positions. Analytical skills and the ability to read various forms of data are necessary skills and duties of this job. The education requirements vary depending on the position, with higher positions requiring a higher degree. With more experience and higher degrees, promotions are available to advance further in this career. The salary of these analysts varies depending on degrees and experiences. Daily life as an analyst involves working with clients and data, sometimes requiring extra time to finish deadlines. As a crucial job, it is in high demand in businesses, and the outlook is projecting a growth. One’s personality should be similar to the compatible personality aspects for a higher chance of enjoying the career. Advantages and disadvantages are two important aspects to understand in a career.

Part of planning market research is outlining the flaws and limitations of the research itself. Any weaknesses in the research must be identified so they can be improved on. There are a number of limitations that may affect the results found by market research.

Lodgepole Creek Certifies Organic Foods would like to know who they should be marketing to, in order to receive the best results for their company's success. They would also like to know how to best appeal to this marketing mix to gain their loyalty and to compete within the market. Three research objectives are identified: who should Lodgepole Creek's marketing mix consist of; research should be done to see how Lodgepole Creek can gain their loyalty. Researching and understanding what consumers want from organic sprouting companies will

Sukhjit: The target market towards which this services and product is targeting is seniors (baby boomers), immigrants, others who want to learn how to use technology, people who want to learn programming and anyone looking to buying a new and affordable computer or looking to repair their device.

and let them relax. The others tended to look for hotels that would let them

David J Freiman stated in his book What every manager needs to know about marketing– "Just as one would not build a house on sand one should not undertake a marketing programme that is not built on a firm foundation of market knowledge."

Primary research is data that is gathered first hand from an original source, and has not been collected before. It often involves going out and asking people for information, hence its alternative name field research.