INTRODUCTION & TERMS OF REFERENCE
For this assignment, I’m a marketing consultant and I will be giving advice to Mr Johnson who wants to open up a fast food restaurant in a large urban area of South London where he lives. I’ll have to outline the types of information he might need and produce a research plan which should include: • The research objectives and what areas the research will cover • What research methods he could use
• Which existing sources of secondary information he might use • What new primary data he needs to collect, and
• Design a questionnaire, which would be used in gathering suitable information. I’ll then have to conduct comprehensive market research using the designed questionnaire and interpret the results of the market research in such a way that Mr Johnson will understand. I’ll produce a briefing paper, examining what external environmental factors I consider Mr Johnson needs to bear in mind, which may affect the business and how these factors will directly or indirectly impact on the business. I’ll lastly prepare a detailed plan for Mr Johnson, which will include; the product strategy, the pricing strategy, the promotional strategy, the distribution strategy and the people, physical evidence and process strategies within the context of my plan.
For this assignment I’ll be using two types of research which are primary and secondary research. Primary research: This means asking someone for their views or opinions. I’ll be using questionnaires to find out people’s views. Secondary research: Secondary research relates to information that already exists, rather than creating your own. I’ll be using information from the internet, text books.
Under this section you are going to find all the findings of my research.
Marketing is the management process of identifying, anticipating and focusing on the needs of actual or oriented customers whether for profit or not, while also encouraging customers to make further purchases and to recommend the products and services of the organisation. Marketing describes both a management strategy that focuses on customer satisfaction, and series of functions such as advertising, product development, selling and market research. Anybody responsible for marketing within an organisation must be able to identify the needs of both potential and existing customers. It is also necessary to be able to anticipate future trends and developments which could influence customers’ requirements; for example in this case Mr Johnson would need to spend more on advertising to attract customers thus increasing his customer base.
Marketing involves constantly reviewing all aspects of a products or service in order to ensure that it continues to satisfy the potential customer’s requirements. This means having the right product or service, available at the right price and at the right time and place. An organisation can only claim that its marketing is successful when customers make repeat purchases or are prepared to make recommendations about the organisation’s products or services.
E.1 YOU CAN APPROPRIATELY IDENTIFY, COLLECT AND USE PRIMARY AND SECONDARY DATA RELEVANT TO THE MARKETING STRATEGY
Using marketing research I have gathered, analysed and collected information that will helpful when I’m advising Mr Johnson. The market research information would help Mr Johnson to recognise and respond to market opportunities and to develop suitable products to meet market needs. It will enable him to find out which goods and services people want, the price they are prepared to pay, where they prefer to buy the product, and how products should be promoted. I carried out market research because Mr Johnson wants to start a business of his own and the research helped me find out; the size of the market and how customers will respond to his products. By using marketing...