P3: Selected Organisations Usesmarket Research to Contribute to the Development of Its Marketing Plans

“You are required to write a report on how marketers use the different methods of marketing research to identify opportunities of the market, segmenting and targeting the market based on the valuable results collected from their marketing research activities.

The company’s position in the market place (and including market trends) and why you believe market research would be of benefit to the company.

According to (Wilson, 2012), Secondary data is information that has been previously collected for a purpose other than the current research project. ‘Secondary data are best remembered as ‘second-hand’, because such data are ‘old’ primary data. Good researchers start with secondary data before designing primary research studies’ (Bradley, 2014, p.70). The three main types of secondary data are Documentary, Survey based and Multi-source secondary data. An example of Documentary secondary data would be a written report such as an email. Survey based secondary data is usually information that is collected through a questionnaire and Multi source secondary data is information gathered from multiple sources such as

The presentation I made before you and my classmates is aiming at give you a briefing about the market research I planned for “Ring The Bell” company. This company is in food field that provide online ordering and delivering services to customers who want to have their meal to their door step as soon as possible. I stated clearly in the presentation the importance of this market research and resource that I may need for this market research and the objective of this market research. I also made some changes to my market research objective. I think in the market research we also need to consider our competitors’ information and common practice in the food delivering market, so that we can compare our strategy to theirs to make our performance more efficiently.

P3 Describe how a selected organisation uses marketing research to contribute to the development of its Marketing Plans.

In an innovative economic society, were millions of products and services are created each year; marketing research is an essential element that provides a comprehensible representation of a need, and potential product concept solutions. Companies are always looking for new ways to generate a constant flow of revenue that will provide a competitive edge in a growing economic environment. Therefore, it is the marketing manager responsibility to assign marketing studies that targets a specific problem and produce opportunities for growth. Good marketers need insights to help them interpret past performance as well as plan future activities (Kotler & Keller, p. 97). Marketing research is crucial to the success of a company. In order to

Secondary data: Data collected and processed by some agency or persons and are not used for the first time.

3. Explain why market research and the information gathered are important to an organisation like Britvic.

Secondary data exist of information that already exists somewhere, having been collected for another purpose. It is a quick way to get information and it is cheaper than primary data. Although it can not provide all the necessary data, so primary

Moreover, the difference between primary and secondary research is that primary research is data that you have collected yourself either by face to face interaction or a questionnaire, surveys or interviews. However, primary research can be expensive and it is

If a company using qualitative research for collecting information from outside, they can identify customer needs or obtain information to generate measures for improvement or create a new ideas (I). As usual in business, qualitative research can let them understand how their customer recognize a marketing message, and capture the culture and similarly customers using to relate and define a product, service of business. And the useful of getting qualitative research is, to provide enough information to design quantitative study and explain findings that form a quantitative study (J).

Market research is to provide information that helps the business ‘to recognise and respond to market opportunities and to develop suitable products to marketing needs’.

One of the critical matter when developing a marketing plan is to identify the research methodology. The followings were proposed by Buckmeister the CEO, Wallance, and McMicheal;

The company’s position in the market place (and including market trends) and why you believe market research would be of benefit to the company.

SECONDARY RESEARCH: Secondary Research is research that is already collated and readily available, this can be previous research done by panels, public, media, magazines, internet etc.