This report is for Unit 22 Market Research Assignment 2 Learning Aim B & C. This work covers all of the criteria required to achieve distinction as well as the correct structure and layout needed to reach these high grades (please have a look at the previews). Just follow the content, it will save you time and help you easily achieve distinctions. Criteria covered: D2 Evaluate the effectiveness of the pilot research recommending changes that should be made to the final market research activity. \/ M2 Analyse the reasons for choosing particular research methods, the type of data to be collected and the sampling plan. \/ P4 Undertake the final market research activity using a detailed sampling plan to obtain a range of secondary and primary data. \/ P3 Undertake pilot primary market research and collect sample data. \/ P2 Undertake secondary research for a selected marketing objective.<\/p>\n\n\n\n
John Price
Unit 22\u2013 Market Research
Assignment 2
Market research in action
B: Plan and implement a market research activity to meet a
specific marketing objective
C: Analyse and present market research findings and
recommend process improvements
Introduction – Planning stage\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.\u2026\u2026\u2026..\u2026\u2026\u2026\u2026.\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..\u2026\u2026\u2026\u2026.\u2026\u2026\u2026\u2026.\u2026.\u2026\u2026\u2026\u2026..2<\/p>\n\n\n\n
learnexams – The Marketplace for Revision Notes & Study Guides
John Price
Learning aim B: Plan and implement a market research activity to
meet a specific marketing objective
Introduction – Planning stage
P2: Undertake secondary research for a selected marketing objective.
M2: Analyse the reasons for choosing particular research methods, the
type of data to be collected and the sampling plan.
Problem definition \u2013 This market research is needed to assist the
decision-making process of a new business start-up. The client wants to
open a mobile coffee stall business; however, the coffee shop business
sector is highly saturated\/competitive in the area. Therefore, it is crucial
to undertake relevant market research to identify market gaps, help the
business stand out from the competition, thus increasing the chance of
business success. The main purpose of this research is to inform the
client on the business opportunities in the sector. It will achieve this by
the use of up-to date secondary research as well as some primary
research. A pilot questionnaire will be undertaken to help to ensure that
the primary research market plan is entirely relevant to the business
start-up. The information collected form this research will help to identify
gaps and opportunities in the existing coffee shop market, thus it will
help the client launch their enterprise successfully.
Set research objectives \u2013 before carrying out the market research it is
vital to decide what is it that you need to find out from the research.
Once those objectives have been set it is easier to decide on the type of
research method to use to achieve them. Research can be undertaken
to find out a renege of date, for example what customers prefer,
customers buying patterns, competitors\u2019 activities and what are the best
advertising strategies. As the client wants to open a mobile coffee shop
this report has come up with objectives to help deeming if and how this
business can be turned into successful venture.<\/p>\n\n\n\n
learnexams.com – The Marketplace for Revision Notes & Study Guides
John Price
Budget \u2013 The business has a budget of \u00a310 000, bellow is a rough plan
on how this investment will be spend:
\uf0b7 Van \u00a33500
\uf0b7 Salary \u00a32000
\uf0b7 Coffee machine \u00a31500
\uf0b7 Coffee \u00a3100
\uf0b7 Legal expenses for the license \u00a31 300
\uf0b7 Marketing \u00a3600
\uf0b7 Food service equipment \u00a3500
\uf0b7 Furniture \u00a3500
Determine what data is to be collected \u2013 this research will use a
combination of qualitative and quantitative date to create reliable
conclusions. First a secondary research will be used to analyse the
coffee shop market as a whole (quantitative research), to find out if there
is potential\/gap in the market (link to research objective 2). This will
determine if it is a good idea to start a business in the coffee sector.
After this is determine it comes time for the primary research which will
be in the form of pilot questionnaire. This type of research allows to find
accurate, relevant and up-to-date market information, because we have
control over the sampling size and method.
Secondary research – According to BBC the UK have reached a coffee
shop saturation[ CITATION Luc17 \\l 2057 ]. Experts suggest that there are
\u201cfour to five years structural growth remain in the UK coffee market\u201d.
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