Btec Business Level 3 Unit 4 P4

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Business Plan Part 4 Market Research(Primary research): "Primary research involves the collection of new information by conducting market surveys, telephonic interviews, online surveys, feedback forms and focus group interviews." The information is collected by directly contacting customers. This research is adapted according to the research necessities of our PlayStation café business. Even though a trained company can achieve a primary market research, it costs less for a business to perform its observation. A business can perform the research itself for an extremely less expenses. There are different ways for us to conduct primary research as I mentioned above. The use of survey and feedback forms is a great way of collecting information about our customers. Before creating survey questions, it is needed for us to organize for research questions, to explain what business targets our survey will deal with. Survey questions should be planned to meet the goals of our research. The primary research goals…show more content…
As we are entering two different markets the restaurant and the play station market. In the restaurant market we don’t have a large enough share as many competitors can beat us as we are not investing too much money on the food and drinks, but rather on the play station. We feel we can make more money if we invest in better play stations and higher technology it will help eliminate the consumers wants on food and look more to the high-tech technology that our business will be providing. This is why I feel our business will thrive through the play station market rather than the restaurant market because there are also a smaller amount of competitors compared to the restaurant

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