Btec Business Level 3 Unit 3
Unit 3: Introduction to Marketing
Nike
Market Research
Market research helps Nike to make decisions by helping them to understand the changing dynamics of the market. Market research helps Nike understand who their target market are along with its competitors it has and where they differ. It helps Nike to make improvements, change their business plan or change their product. There are 2 types of market research, these are primary and secondary research.
Primary Research
Primary Research would be research that Nike have conducted first hand, meaning that Nike have done their own research. This could be internally or externally. If Nike was to do internal primary research they would look at things that are within the organisation. Such as their sales figures to see what products are selling well and in which areas, but also to see what products aren’t selling so well so they can try and improve them. They could also look at the customers data held on Nikes central database. This would be good for Nike as they could contact them customers and ask them what they liked about the products and what they didn’t like to give Nike more of an idea on how they can improve. Nike could also conduct external primary research which is doing primary research outside of the organisation. This could include things like questionnaires …show more content…
This type or research would also be known as ‘Desk Research’ as it would normally take place at a desk. This could be helpful to Nike as they could look at a survey which the British Markey Research Borrow conduct (BMRB), such as the National Buying Survey so they can see where it is best for them to sell some of their products. Also these surveys help Nike to find out when they should advertise their television adverts and on what channels they should advertise them on.
Quantitative
Nike
Market Research
Market research helps Nike to make decisions by helping them to understand the changing dynamics of the market. Market research helps Nike understand who their target market are along with its competitors it has and where they differ. It helps Nike to make improvements, change their business plan or change their product. There are 2 types of market research, these are primary and secondary research.
Primary Research
Primary Research would be research that Nike have conducted first hand, meaning that Nike have done their own research. This could be internally or externally. If Nike was to do internal primary research they would look at things that are within the organisation. Such as their sales figures to see what products are selling well and in which areas, but also to see what products aren’t selling so well so they can try and improve them. They could also look at the customers data held on Nikes central database. This would be good for Nike as they could contact them customers and ask them what they liked about the products and what they didn’t like to give Nike more of an idea on how they can improve. Nike could also conduct external primary research which is doing primary research outside of the organisation. This could include things like questionnaires …show more content…
This type or research would also be known as ‘Desk Research’ as it would normally take place at a desk. This could be helpful to Nike as they could look at a survey which the British Markey Research Borrow conduct (BMRB), such as the National Buying Survey so they can see where it is best for them to sell some of their products. Also these surveys help Nike to find out when they should advertise their television adverts and on what channels they should advertise them on.
Quantitative