Unit 3 Market Research P1

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Introduction In this assignment I will be describing how a selected organization uses marketing research to contribute to the development of its marketing plans. The local business that I will be looking at is Sainsbury’s in Newbury Park. Key Words Market research is used by companies to find and respond to customers’ needs and preferences. This allows business to make persisted decisions for the company rather than take risks. Market research starts out by finding information on customer’s needs, the business competitors and the market trend. Market research can be collected through primary and secondary research. Market research plays an important role because it can reduce business making the wrong decision. Without market research…show more content…
After the market research has been measured over time the business should be able to use the information to improve the business and assist customer’s needs. Market research also gives the business an idea for how much customers would pay for the product. Primary Research is new data that has not been collected before. It allows business to focus on customer’s needs and interests. The advantages of primary research are that the information is up to date and it helps answer businesses questions. A problem that occurs is the process can be expensive, time consuming and the feedback can be misleading. Internal primary research can be collected through sale figures and customer data on the central database. External primary research can be collected through surveys, questionnaires, interviews and mystery shoppers. Secondary Research is when the data and information has already been collected. This helps businesses because it’s an easy and quick process of gathering the information/ data. The advantage of secondary research is that the information is easy to access and it’s a low cost process. A problem that occurs is the information may not be specific to the business purpose…show more content…
Social Sainsbury’s has looked at customer behaviors and attitudes towards certain products. Legal Sainsbury’s has adapted to the new tax about advertising fatty and highly processed foods. Legal Sainsbury’s has adapted to the new tax about advertising fatty and highly processed foods. Environmental Sainsbury's are trying to encourage customers to "reduce, reuse and recycle." Environmental Sainsbury's are trying to encourage customers to "reduce, reuse and recycle." Economic Sainsbury's has a large increase in unemployment and the price of food can affect the economy. Due to this there will be a decrease in the production of food products and employment. Economic Sainsbury's has a large increase in unemployment and the price of food can affect the economy. Due to this there will be a decrease in the production of food products and employment. Technological Sainsbury’s has an online food delivery service. Results show that there has been an "increase of sales by 25% year after year." Technological Sainsbury’s has an online food delivery service. Results show that there has been an "increase of sales by 25% year after
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