Plan Market Research Essay Sample
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Plan Market Research Essay Sample
The research objective I will be focusing on is target market, this is essential because the business I have selected is event management specialising in wedding planning and it is necessary that I know the needs and wants of customers from different backgrounds. Defining my target market will help me focus on my objective and will allow me offer better service. If I don’t concentrate on whom my target audience is than it will result in me making less customers than I should me, so target market is important in order to meet my businesses objective which is to have a diverse and an organisation that could apply to everyone of the data collection. On the new state of the art reseal able cans for Ball see what can be done to promote their new product of the state of the art reseal able cans which haven’t been released. With the market team, I am going to perform extensive market research in order to have a successful launch for state of the art reseal able cans. Specifically, I am going look at the reseal able cans.
The target audience is young people aged 13-25. The research methods I have decided to use are surveys and online research because both of these methods will allow me to find out my target market quicker and it doesn’t take a lot of time to carry out. Surveys can help to identify the different types of services people want and are looking for in event management businesses and online research can allow me to estimate the overall amount of people from different backgrounds and cultures who come to businesses to organise events for them. I will use surveys so that I can find out what people views are and what the different thing they are interested in and this I will help me to gather information about who I will be targeting and this will also allow me to gather first-hand information which is useful because it will be accurate and if I use secondary information such as reports of the past on the internet which will be a waste of time because it is no longer valid because people change their opinions on what they think an event should be like every year. M2
I have chosen to do surveys because it will help to have face-to-face interactions with people and will allow me to get inner thoughts and opinions and what it is they are looking for, this will also allow me to get a closer relationship with customers which may result in them opening up to me. Overall I think that this method is useful and will prove to be accurate I have also chosen to do online research because it will help me find out more diverse information about people and what kind of themes and trends are popular and it can also help me find out the different statistics and numerical facts about people who will approximately come to my business yearly.
Both of these methods will help me to give me extended insights and will help me find out more information such as, the different interests and it might also help me to figure out what customers think about the perfect entertainment and the pricing range which people are looking to have a budget around for certain events, this will help me to fix prices for different events I will use online research because it is fast and easy to get it will help me find statistics and allow me find out techniques on competitors and other similar business, and I can also help me find out about the latest trends in fashion and the prices which are charged for certain events and it can also help me to find out about people’s views and what places are popular and most used when events are organised.
Overall, this method is useful because it will allow me to find out information and is worth the time because I will be getting all the information for free. I thought about using observations and online questionnaires, but I have rejected both of these because they are time consuming. observations are not done easily it will take a lot of time and competitors may not allow me to observe in their stores, at first I thought this method was useful because it would have shown me the different perspectives and the types of customers that will visit frequently. I also wanted to do online surveys but this might be quite costly and will not be very effective because not many people take notice. My targets are people from different background because it will help with the growth of my business, people from different cultures celebrate festivals and parties such as birthdays and anniversaries or weddings and people are looking for themes that can help their parties stand out and they may also have certain traditions which they may want to have fulfilled.
Planning diverse events can lead into expansion and can help to open up at different parts of the world. The first research method I have chosen is conducting surveys which may take up to two weeks because I will have to travel and ask people from different places and if I don’t, this I will result in my research being biased and will stop me from achieving what I wanted, which is to be diverse. The other research method I chose is online research will take a week because it will take time to gather up all the necessary information that I will be required to have in order to identify my target market and all the popular themes. Research brief
When looking at the market research of the new reseal able cans, we will carry out the research through a number of different methods. The main aim of the new reseal able cans is to be profitable and to be competing with other new resalable cans on the market. In order to achieve this main objective, we must identify correct target audience, prize and methods of distribution as well as the right packaging and design of the reseal able cans. When looking at the usage of the Blackberry browser, we may not be able to derive the packaging and design of the product. On the other hand, we can look at the location. To add to market research, I will construct a survey which will be sampled on 20 students in a local school.
In addition, this is a form of marketing research which is direct and involves numerical and written aspects. As a result, the information will go towards qualitative and quantitative research. Next, the results will be analysed and evaluated in order to highlight key facts and figures which results in the final report of the findings for the market research will also be a mixture of findings. Any quantitative data will be represented in various forms of graphs, charts and tables. The purpose for this is to see the results clearly, with trends and patterns need be analysed and evaluated. Additionally, qualitative data will be summarised in the form of a report, providing analysis and evaluated statements.