Ibms

Topics: Research, Scientific method, Marketing Pages: 3 (890 words) Published: June 20, 2013
Name : Jacquill Basdew
Class : HDW0X
Tutor : J. Baloe

Assignment : Unit 10

Task : P2, explain how different market research for a product or service using approprtiate methods of data collection.

In this P I will be showing how different market research methods can be helpful in identifying whether there is a market for that business in the area where I live. I will also describe how these different research methods complement each other. For this report I will use the high-end store Zadig &Voltaire.

About Zadig & Voltaire

Zadig & Voltaire is a French brand of ready-to-wear; founded in 1997 by Thierry Gillier, grandson of André Gillier, co-founder of the company Lacoste.

Zadig & Voltaire has stores located all over the globe, where they sell mens and womans clothing and accessories.

Observation:

For a fashion store like Zadig & Voltaire observation is a very useful source of gathering information about customers buying behaviour. You can see which items draw the customer’s attention and what doesn’t. So for example: which kind of clothing they look at the most or which articles people are the most looking for

Observation can have a lot of influence on the marketing mix of Zadig & Voltair. If they notice that the customers like a particular style, they might produce a lot of it the next season. Observation is not very useful when you are trying to identify if there is a market for Zadig & Voltaire in places where the customers live in but it is a very useful method that can be used to make a marketing decision.

Data records:

Another very useful research method for Zadig & Voltaire is data records. By using this method ZV can find out information like whom the existing customers are, where they live, how much they spend and how often they do purchases at one of the ZV shops. ZV uses a loyal-customer card. When you make a purchase at a ZV shop a certain percent of the money you have to pay is...
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