Essay on Unit 10: Market Research in Business

2332 WordsApr 27, 201210 Pages
Unit 10: Market Research in Business In this assignment I will continue working alongside the local entrepreneur to discovering whether or not there is a market available in order for them to open up an internet cafe. I will be creating a research plan which sets out to investigate whether or not the entrepreneur should set up the business. The research plan will have to consist of objectives and these objectives must be S.M.A.R.T, the research objectives will also have to be based on what I would like to focus on. I must also state the methods which I would chose such as qualitative or quantitative data and so forth. Lastly I must be able to justify as to why I picked my chosen research methods as opposed to other research methods, so I…show more content…
The fourth S.M.A.R.T objective based on my planned research “To identify altercations present within the market” The two methods of research which I will use it are secondary data such as data records and trade journals. I would use trade journals to identify how the internet café trade is doing at the current moment in time and see what changes have occurred over the previous years to change the internet café and how it has affected the business. Lastly I would use data records to identify why customers go to a particular internet café and what had that internet café got to offer which the consumer can not get elsewhere. M2: Explain the reasons for selecting the particular method of data collection for a selected product/service. For the first objective the reasons as to why I choose observation and surveys is because by using observation you are able to experience and see firsthand how the target market treat and behaviour around each other in the environment around and by observation you are also able to know whether there is any hostility between the two age groups as findings may suggest or is it a myth. The observation will allow you to know which target market the company would focus more of the services on and which target market you would to impressive more so that the company is able to offer a range of services; due to the fact that teenagers have lower attention spam and you must continue finding new ways to keep them entertained so that they can

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