Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Marketing research chapter 7
Marketing research chapter 7
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Marketing research chapter 7
The sampling techniques that was used for this research were basic marketing research techniques (Gilbert n.p). A survey will be carried out on participants to determine the current customer base at the existing EDO location here in Prince George. A keen observation of the customers at the EDO location in the pine Center mall taking observational notes on the number and frequency of visits amongst identifiable groups. The records will be taken for a period of two weeks before gathering enough data to start making inferences. Nonetheless, the process will go on past the two weeks to make sure the data that is collected is a representative sample of customer trends. This process will ideally occur over different time frames as to create a viable basis for target market and sample selection for our research purposes. After the whole process of collecting data is complete the results are complied. Data analysis follows to establish which key demographics that would be ideally solicited to take part in the cross-sectional study.
The data collection methods that will be used are observation, focus groups and surveys. Observation is used because it is flexible and gathers real-time data on the customer behavior and trends. Another advantage of using observation its cost effectiveness. Scarce resources are a major factor in choosing methods to be used for data collection. Focus groups have the ability to gather views from many respondents in one session. This capability is an advantage in saving time taken to get information from a large number of participants. Surveys were a very instrumental means of gathering statistical data about customer needs and trends. The survey consisted of a variety of questions in general-itemized rating scal...
... middle of paper ...
...alculating correlations, variance and p values. The results will be interpreted and discussed thereafter.
In conclusion, the research design for this study is a mixed study approach. It utilizes qualitative methods of study (focus groups and observation) as well as quantitative methods of study (surveys). The collective advantage of using these methods includes cost effectiveness and improved validity results. The research was focused on Prince George area and endeavored to gather, analyze, interpret and draw conclusions from data collected about costumer behavior. The whole marketing research was intended in providing valuable information that will determine the feasibility of establishing a new EDO franchise in Prince George.
Works cited
Gilbert A. Churchill, Tom J. Brown, and Tracy A. Suter. Basic Marketing Research, 7th Edition. Thomson, South-Western. 2010.
Bearden, William O., Thomas N. Ingram, and Raymond W. LaForge. Marketing: Principles & Perspectives, third edition. Boston: McGraw-Hill, 2001.
The above questions are open-ended to enable the participants provide all-inclusive answers. Furthermore, systematic approach will be used in obtaining the required customer sample, which is 15 customers in this case. The customers will be randomly selected, whereby every 3rd customer will be asked to fill-in the questionnaire. The technique of systematic sampling was selected to ensure equal representation and accuracy of results by preventing biasness. In addition, ethical concerns will be considered. The representatives would be informed that their private identity will be concealed and that the study is entirely for the company. The representatives are also at liberty to withdraw from the study and will be provided with a written consent outlining the reasons for the survey.
With a down economy, the challenge for any business is to reach current and potential consumers. The motivation behind Starbucks’ “Coffee of the Month” Program is to offer a premium product, for a special discounted rate, each month to give back to our loyal customers plus attract potential coffee drinkers to our establishment. However, to implement this program, market research is needed to evaluate the program’s general effectiveness and return on investment. For this next section in our marketing plan, Marketing Team A looks at available secondary research, including accessible Internet studies. Additionally, our marketing team looks to utilize two decided upon marketing tools: customer research panels and data mining. With these tools, our team aims to develop survey instruments, along with sampling procedures, based on these selected research tools. With this next step in implementing our team’s research plan, Team A moves one step closer to taking our “Coff...
Market segmentation is the division of a market into different groups of customers with distinctly similar needs and products or service requirements (Croft, 1994). Its major purpose is to pull scarce resources and ensure that the elements of the marketing mix, price, distribution trends, products and promotion are premeditated to satisfy the particular needs of the different customer groups. City Grill’s main approaches to market segmentation, could include using the breakdown method where they can view the market as to consist of consumers who are in essence the same, having similar tastes, and so forth. Their duty could only be to identify groups which share particular differences. Alternatively they could use the build-up method. In this method they will have to consider the market as to consist of consumers who are all different. Their task in this approach will be to find similarities.
The questionnaire will be administered among the sampled 100 customers. It will contain both open ended and closed questions. The questionnaire will be structured into three sections. The first section will be an introduction that will brief the study participants on the study purpose and encourage them to answer the survey questions truthfully. The second section will focus on the participants’ demographics such as age, income, gender, family life cycle, and their purchasing behavior. The third section of the questionnaire will contain questions focusing on the consumer preferences when they buy products from the
In order for PepsiCo to be successful in selling Pepsi Platinum, the company must research the marketing community. The best way to create a strategic marketing plan is to understand the target market in the beverage and sports drink business. PepsiCo must ask, “What is the demographic of this market, what are psychographics and behaviors of the specific market that PepsiCo, in regards of selling this brand, desires to reach?” Understanding our customer needs, and competitors offerings will help PepsiCo create a strategically integrated marketing plan. The principal to any successful marketing strategy is to understand the customers and their needs. The ability to satisfy customers' needs better than the competitors, will first be, that PepsiCo build customer loyalty and increase sales (Business Link, 2007). Marketing research uses many methods to obtain its results. PepsiCo will use external census data and marketing survey data collected by outside marketing research firms, as a method of understanding customer wants and needs. Computer-aided methodologies will also be used to collect data on the competitors of PepsiCo such as Coca Cola, Jones Soda, and Mo...
Carson, D., Gilmore, A., Perry, C. and Gronhaug, K. (2001), Qualitative Marketing Research, Sage, London.
McDaniel, C., & Gates, R. (2006). Marketing research (7th ed.). Noboken, NJ: John Wiley & Sons.
The Hypothesis is that the market share determined with the analysis is similar of the one obtained in the exploratory secondary data study. For this we are going to use Frequency Distribution analysis to tabulate the variable 3a “when the last time that the customers went to each restaurant was” considering only the customers within the past 4 week of less, the other ones seem to be too far (more than 4 week to 3 months or more than 3 months ago).
Burns, A. & Bush, R. 1998, Marketing Research (2nd Ed.), Prentice Hall Inc., New Jersey
Aaker, David A., & Day, George S. (2007). Marketing Research, Ninth Ed. Copyright John Wiley & Sons. Retrieved on July 16, 2011 from University of Phoenix website.
The sampling design process includes five steps which are closely related and are important to all aspect of the marketing research project. The five steps are: defining the target population; determining the sample frame; selecting a sampling technique; determining the sample size; and executing the sampling process.
The market is divided on the basis of several variables such as sex, occupation, age, marital status, social status, education, family size etc. These variables highly influence customers buying behavior and moreover these elements can be measured quantitatively. For example the restaurant can target individuals who are not married and with low income, this is dependent on the rate of services offered. Therefore, considering demographic factors while designing marketing plan is crucial.
Research in this area can be to know the attitudes of consumer and their behaviour mapping.
The main objective of starting a business is to gain customers and it is the most crucial part in the success of running a business. In order to thrive into today’s’ economy, the new chocolate company in the UK will need to use marketing as a tool of gaining new customer and retaining the existing ones (Speshock, 2010). Thus, marketing remains to be the main backbone of new and existing businesses successes. Apparently, there are several basic concepts of marketing, which are commonly used by numerous marketers of goods and services. These concepts of marketing comprise of the sellers, consumers, the product development, the market research, product positioning, the product image, the product concept, and the brand loyalty. These concepts combined with the marketing boundaries help in determining the consumer behavior on the product under marketing. On the other hand, it is important to state that the marketing concepts dictate that the success of a firm often depends with the marketing efforts that a firm employs (D’Aveni, 2007)...