Unit 19 : Marketing Research Assignment-Btechnd
LO3 Be able to assess market size and future demand
Q3.1 Assess the size and the trends for a market of your choice.
The market of a particular product consists of the potential buyers of the product in a particular geographic area. The market of the product also consists of the other organisations offering the same product to the consumers as the competitors (Bettman, 1991). The market also consists of several resources that are used by the organisation to successfully carry out its marketing procedures and actions according to its marketing strategy along with its business functions.
Australia can be considered as the market for a particular product. The size of this market can be defined as the area of the country which is around 7.7 million square kilometres. The sixth largest country in the world, Australia is consists of 6 states and 2 territories.
The lifestyle of the people in the country is very good because of the low cost of living, good educational systems, good social systems and extensive beneficial plans from the government of the country. Australia is home to people of various cultural backgrounds and beliefs. So the current trends in the country are based on the good lifestyle and diverse cultural background of the population of the country.
Q3.2 For an organisation of your choice, plan and carry out a competitor analysis.
This is a process of the marketing strategy of the organisations which allows the organisations to determine, analyse and observe the current and potential competitors in the market helping them to anticipate the actions of the competitors (Chen, 1996).
This is a concept which divides the companies in a particular industry according to the similarity in business models or business strategies used by the companies. This allows the companies using similar strategies to be grouped together (Bettman, 1991). Strategic group analysis allows the companies to determine their direct competition and the basis of the competition along with the opportunities in the market.
The strategic group analysis of the company Nestle reveals its competitor to be Kraft foods. Both of them belong to the industry of coffee consumer goods and the industry group of “2095 roasted coffee”. Nestle consists of only two coffee brands which are Nescafe and Nespresso. But Kraft foods have nine different coffee brands.
Q3.3 A Chinese mobile phone manufacturer wants to enter the UK market with its new smart phone handsets. (This is a hypothetical organisation used for the purpose of assessment.)
Evaluate this organisation’s potential opportunities and threats in the UK.
A Chinese mobile manufacturer wants to enter the UK market with its new Smartphone handsets. The organisation will get some opportunities along with opposition from the Smartphone manufacturers currently holding shares in the UK market.
Market: The number of cell phone users in the UK is increasing day-by-day. The current figures suggest that half of the cell phone users in the UK are using Smartphone. Apple is holding the highest market share in the UK which is almost 30 per cent of the Smartphone market with its iPhone range. Samsung and HTC are gaining market shares at 24 per cent and 20 per cent respectively. They are accompanied by Blackberry having less than 17 per cent of the market. So the major threats of the Chinese mobile manufacturer are Apple, Samsung and HTC which are settled in the market for quite some time with their wide range of Smartphone.
Some of the major challenges for the Chinese mobile manufacturer will be to persuade the population in the market to be interested in their product and to understand the benefits of the product according to its price (Stávková, 2008). Making the people in the UK Smartphone market realize the positive price-to-performance ratio is another challenge the Chinese mobile manufacturer has to face. First they have to position their brand as reliable, cheap and authentic.
LO 4 Be able to measure customer satisfaction
Q4.1 Evaluate how you would assess customers response using the following two techniques;
1) A face-to-face questionnaire and
2) An online questionnaire.
Questionnaire is a method of market research which consists of several questions of different types to a group of people or general population. The purpose of the questions in this method is to collect as much data about the market as possible from the customers. The questionnaires are generally cheaper, simpler and easier than some other types of surveys. This can be done by using several techniques, such as face-to-face and online questionnaires.
The face-to-face questionnaire allows the interviewer to be physically present to ask the questions to the interviewee directly. Face-to-face questionnaires are conducted when they are absolutely required (Chen, 1996). There are several advantages of the face-to-face questionnaires, but there are a lot of costs associated with the process as well. Face-to-face questionnaire follows a standardized questions and answers pattern.
Advantages: The face-to-face questionnaire allows the interviewer to ask several complex questions and to help the interviewee to understand the question. The interviewer can perceive the facial expression, body language and gestures of the interviewee to decide which questions to ask and how to ask those questions. The face-to-face questionnaire allows the collection of some data that can’t be collected from any other source.
Disadvantages: The cost of conducting such questionnaires is very high. The process of face-to-face questionnaires also takes a lot of time and a limited number of people can be interviewed in a particular amount of time (Stávková, 2008). The required number of interviewers is also high. The interviewee in this type of questionnaires can also get influenced, biased or affected by the interviewer to compromise the quality of the data.
This type of questionnaire is conducted on the digital media. The usage of social networking sites, search engines, websites and blogs is done for the successful operation of the questionnaire.
Advantages: The time taken by the process is less in comparison to the total number of people going through the questionnaire. There is no requirement of having a large number of interviewers or a particular venue for the process to undergo. The people don’t get affected by the process and tend to answer honestly by being assured of anonymity.
Disadvantages: The direct interaction with the interviewee is not possible in this type of questionnaire. The quality of the questions can’t be enhanced depending on the response to previous questions.Order Now