...M2 and D2 Limitations of market research There are two types of limitations of market research these are reliability and validity of data collection. Reliability is making sure the method of gathering information is consistent. Validity relates to the accuracy of the information given. Market research is important the reason this being is because, It is important that a business meets the needs of its consumers. Without it they would not know what service/product to provide. The definition is 'the process of gaining Information about customers, competitors and market trends'. Validity and reliability Surveys Tesco carried out a number of research techniques in order to evaluate their overall value for money, quality price, choice of branded goods and service labels. They gathered this information by using surveys this helped the business identify long-term preferences and differences between consumer groups. The business surveyed around 11,000 of its consumers over a year to find out the important measure. One of the questions that their consumers were asked was their social class. Social class is a more complex concept that incorporates a number of attributes such as education, job and income. Tesco only measured social class using only a measure of income therefore, validity will be low than if they chose to measure using income, job and education. Tesco would want to create a question that offers consistent responses when asked multiple times as this shows reliability...
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... | |Qualification |Unit number and title | |BTEC Level 3 National in Business (QCF) |Unit 10 Market Research in Business | |Learner name | Assessor name | | |Duncan Llewelyn | |Date issued | Hand in deadline |Submitted on | |23rd April 2015 |19th June 2015 | | | | | |Assignment title |Unit 10 Market Research | |In this assessment you will have opportunities to provide evidence against the following criteria. | |Indicate the page numbers where the evidence can be found. ...
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...------------------------------------------------- BTEC National Diploma in Business 2014/2015 Student Name: | Unit: 3 – Introduction To Marketing | Year Group: 12 | Tutor: Miss Chotai | Date Issued: | Submission Deadline: 27th March 2015 | Deadline Met: Yes/No | Task | Criteria to be met | Issue date(w/c) | Submission date(w/c) | Task 1 | P1, P2, M1 and D1 | 12th January 2015 | 2nd February 2015 | Task 2 | P3, P4, M2 and D2 | 16th February 2015 | 2nd March 2015 | Task 3 | P5 | 2nd March 2015 | 9th March 2015 | Task 4 | P6 and M3 | 9th March 2015 | 23rd March 2015 | Grading Criteria Met & date achieved: | | | | P1 | P2 | P3 | P4 | P5 | P6 | M1 | M2 | M3 | D1 | D2 | | | | | | | | | | | | Final Feedback to Student | Final Grade Awarded: | Fail | Pass | Merit | Distinction | I CONFIRM THAT THE ATTACHED ASSIGNMENT IS MY OWN WORK Student Signature: Date: Tutor Signature: Date: Internal Verifier: Date: INTERIM FEEDBACK RECORD Date | Comment | Target | | | | UNIT 3: Introduction to marketing ASSESSMENT CRITERIA To achieve a Pass grade the evidence...
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...consults for a variety of businesses on the marketing activities that they undertake in order to promote their products or services. Your marketing agency has a varied portfolio of clients and you have been given the task of consulting for two businesses, one that operates in the private sector (Jacksonville Jaguars) and one in the public or voluntary sector (Birmingham Children’s Hospital). You have been set a variety of tasks. | Learning Outcomes for Unit | LO1 Know the role of marketing in organisations | LO2 Be able to use marketing research and marketing planning | LO3 Understand how and why customer groups are targeted | LO4 Be able to develop a coherent marketing mix | Grading criteria for unit | P1 | Describe how marketing techniques are used to market products in two organisations | P2 | Describe the limitations and constraints of marketing | P3 | Describe how a selected organisation uses market research to contribute to...
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...Introduction to Marketing - Assignment Brief For this assignment you will be required to research the marketing activities of organisations. In the first two parts of the assignment you will need to focus on how marketing techniques are used in two different organisations. The second part of the assignment will look at how market research impacts on the marketing plan of a specific organisation. Finally, you will need to look at the development of a coherent marketing mix targeted at a defined group of potential customers. M1 D1 P1 Task 3.1 Scenario You work for a large marketing agency that consults for a variety of businesses on the marketing activities that they undertake in order to promote their products or services. Your marketing agency has a varied portfolio of clients and you have been given the task of consulting for one business that operates in the private sector and one in the public or voluntary sector. Choose your two businesses remembering that: one must be from the private sector, for example, Marks & Spencer one must be from the public or voluntary sector, for example, Oxfam. For each business, you will need to research the marketing techniques it has used in order to market one product. These techniques might include: growth strategies survival strategies branding relati onship marketing. For each business: * P1. describe the marketing techniques used to market products ( 200 words ) * M1. compare the marketing techniques used in marketing...
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...marketing research carried out by South Cheshire College. You are required to produce a report based on your findings. This must show how market research contributes to the development of the organisation’s marketing plans. It must also explain the limitations of the market research conducted and make justified recommendations as to how it could be improved. {a} Describe the primary and secondary research which is carried out by South Cheshire College. Show how this research has been used to develop the college’s marketing plans. An example of this may be that secondary research on local businesses has shown there is a need for the college to run an accounting course. {b} Using the research from the college, write a Marketing Plan. This must include:- * A marketing audit (PESTLE and SWOT) * Objectives (targets to achieve) {c} Explain the key limitations of the market research conducted by South Cheshire College. This may be that focus groups were only conducted on 16-19 year olds and therefore the opinions of older students have not been collected. {d} Suggest a minimum of three recommendations South Cheshire College could use to improve the validity of the market research conducted. Justify each recommendation, showing clearly how they would improve the College’s Marketing Plan. P3: Describe how a selected organisation uses market research to contribute to the development of its marketing plans P4: Use marketing research for marketing plans M2: Explain the limitations of marketing...
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...D2 - Make justified recommendations for improving the validity of the marketing research used to contribute to the development of a selected organisation’s marketing plan. In D2 I will be making justified suggestions for improving the validity of the limitations that was mentioned in M2. There are different limitations in market research, I explained five of these in my M2 and I will be discussing these limitations and how they can be improved in this task. I will also evaluate how the limitations of the three methods of market research that Sainsbury’s uses can be improved in order to keep up their performance if they have been doing well or even if they haven’t been failing how these limitations have help improve their business. Food sampling followed by a survey was the first method of research used by Sainsbury’s to which I discussed in M2. There are many limitations when it comes to food sampling followed by a survey and these limitations were discussed in M2 also. The limitations I discussed concerning food sampling followed by a survey were cultural and cost. Both these limitations will always affect how food sampling followed by a survey is done when this research method is being carried out, but these limitations can be rendered simple but still have effect on this research method. Sainsbury’s being the third leading supermarket in the UK they must carry out large sums of market research in order for the them to beat their competitors although they are in close competitions...
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...Y/502/5411 Aims and Purpose of Unit 3 The aim and purpose of this unit is to give you an understanding of how marketing, research and planning and the marketing mix are used by all organisations. You will initially study two business organsations, but you will focus on the products at Denbies Vineyard and we will work in collaboration with them. Issue: 8th September 2014 Deadline: 1st December 2014 Learning outcomes On completion of this unit you should: 1. Know the role of marketing in organisations 2. Be able to use marketing research and marketing planning 3. Understand how and why customer groups are targeted 4. Be able to develop a coherent marketing mix. Assignment 1 You work as a marketing assistant for a large marketing company called “Creative Dreams” . The manager of your department has asked you to carry out the following task. The organisations you will investigate for unit 3.1 are “Thorpe Park” and “Surrey Wildlife Trust”. www.thorpepark.com www.surreywildlifetrust.org Task 1 (P1, P2, M1) Write up a brief introduction for both organisations, this must include size, location, nature of the business, objectives and marketing objectives to provide an introduction to the two businesses. (a) P1: DEADLINE THORPE PARK P1 15/09/14, DEADLINE SWT P1 22/09/14 Describe the marketing techniques used by both organisations to market their products or service. Use the Helpsheet P1 to help you with this for your visit to Thorpe Park. You will have to also...
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...marketers. You are asked to carry out research into two possible contenders for inclusion on the list. You need to complete the following tasks as part of your research project. Task 1 Assessment method: Report Criteria covered Describe how marketing techniques such as branding and relationship marketing are used to market products in two organisations. You need to choose one product or service from each organisation to undertake this task. Compare, discussing the similarities and differences, the marketing techniques described in Task 1 used for the product or service chosen in each organisation. Evaluate the effectiveness of the use of techniques in marketing products or services in one of your selected organisations. You need to judge the effectiveness by weighing up the pros and cons of the techniques used. Describe the constraints and limitations under which marketers operate, making use of examples to explain your points. P1 M1 D1 P2 Task 2 Assessment method: Report Criteria covered This task builds upon your work for the previous assignment. You need to choose one of your selected organisations and investigate its use of market research. You need to complete the following tasks as part of the continuation of your research project. Describe how your selected originations or any other organisation uses market research to contribute to its development plans. Explain the limitations of the market research used to contribute to the development...
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...3: BTEC National Credit value: 10 Guided learning hours: 60 Aim and purpose The aim and purpose of this unit is to give learners an understanding of how marketing, research and planning and the marketing mix are used by all organisations. Unit introduction Marketing is at the heart of every organisation’s activity. Its importance is also growing in the non-commercial, public and voluntary sectors. Also, at the heart of marketing is the customer. This unit will introduce learners to some of the tools and techniques all types of organisations use to achieve their objectives. Firstly, learners will explore how different types of organisations use marketing principles to meet the needs of their customers and achieve their objectives. The constraints under which organisations operate are important and learners will study the legal requirements and voluntary codes that affect marketing. Learners will then go on to investigate how organisations collect data through market research and turn it into useful information which can be analysed and used to plan their marketing activities. The segmentation and targeting of groups of customers is a key marketing technique and this is studied in detail. This includes the different bases for segmentation of both consumer and business markets. Next, learners will examine how a marketing mix is developed to meet the needs and aspirations of a targeted group of prospective customers, before going on to develop a marketing...
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...Cambridge TECHNICALS OCR LEVEL 3 CAMBRIDGE TECHNICAL CERTIFICATE/DIPLOMA IN BUSINESS BUSINESS COMMUNICATION H/502/5413 LEVEL 3 UNIT 6 GUIDED LEARNING HOURS: 60 UNIT CREDIT VALUE: 10 BUSINESS COMMUNICATION H/502/5413 LEVEL 3 UNIT 6 AIM OF THE UNIT Effective communication is a key area in terms of its contribution to business success. When studying this unit learners will gain a thorough understanding of the types of business information used both internally and externally by organisations and the methods used to communicate information to different audiences. In this unit, learners will have the opportunity to develop, analyse and evaluate a range of methods used to communicate different types of business information and will understand the purpose of such communication. They will also produce and evaluate different types of business communication of their own. www.ocr.org.uk 2 Business Communication Level 3 Unit 6 ASSESSMENT AND GRADING CRITERIA Learning Outcome (LO) Pass Merit 1 Understand different types of business information P1 explain different types of business information, their sources and purposes 2 Be able to present business information effectively P2 present complex internal business information using three different methods appropriate to the user’s needs The assessment criteria are To achieve a merit the the pass requirements for evidence must show that, this...
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...uses marketing research to contribute to the development of its marketing plans Market Research: Market Research is a systematic, objective collection and analysis of data about a particular target market, competition, and/or environment. It always incorporates some form of data collection whether it be secondary research (often referred to as desk research) or primary research which is collected direct from a respondent. The purpose of any market research project is to achieve an increased understanding of the subject matter. With markets throughout the world becoming increasingly more competitive, market research is now on the agenda of many organisations, whether they are large or small. Marketing Plans: Product specific, market specific, or company-wide plan that describes activities involved in achieving specific marketing objectives within a set timeframe. A market plan begins with the identification (through market research) of specific customer needs and how the firm intends to fulfil them while generating an acceptable level of return. It generally includes analysis of the current market situation (opportunities and trends) and detailed action programs, budgets, sales forecasts, strategies, and projected financial statements. Primary internal research: where the business conducts their own research internally - inside of the business. For example conducting interviews/questionnaires with the staff within the business. Primary external research where the business...
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...organisation uses marketing research to contribute to the development of its marketing plans In this section of the unit the investigation of the marketing research used by Kellogg’s will be shown through thorough research and evaluation also how it links in to the development of Kellogg’s marketing plans. The Purpose of Market Research Marketing research is what informs business’s make decisions by helping it to understand the changing dynamics of its market. This involves finding out more about customers, competitors and the overall marketing environment. The purpose of doing this is to gather data on customers and potential customers. The pure definition of market research is systematically gathering, recording and analysing data and also about the issues relating to marketing products and services. There are two types of research’s that can be conducted: * Primary * Secondary These research can then be formed into either quantitative or qualitative Primary Research Primary research is data and information that the business has gathered first-hand and has not been gathered before. Internal primary research data sources include: * Sales figures for the business’s own products * Customer data held on a central database. External primary research methods include: * Questionnaires and Surveys * Interviews and Focus Groups * Mystery Shoppers, And other observation techniques. Secondary Research Secondary research uses data and information...
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...By Jack Semple Market Limitations at Kellogg’s (M2) In this assignment I will be discussing the marketing research techniques used by Kellogg’s and I will also be outlining the limitations that affect Kellogg’s. There are many types of marketing research that Kellogg’s use internally and externally from the business. Primary market research One method of market research Kellogg’s use is primary research, they use this kind of research to gather information on customers and on competitors in the business environment. Another name for this kind of research is ``field research``. This kind of research consists in Kellogg’s carrying out surveys, experiments and observation. Market limitation: Is information that can be inaccurate and misleading and is non specific to Kellogg`s. Experiments A company like Kellogg’s experiment’s with a particular approach in certain areas or for a certain time. For example, Kellogg’s have created their special edition ``Kellogg’s queen flakes``, they created this cereal to celebrate the queen becoming Britain’s longest serving monarch. This example is to experiment in seeing how many of these boxes they can sale and to find out how popular they can be. Limitations of experiments Although this method may be an effective one it also comes with a few limitations. This product is only available at Manchester’s black milk cereal drive and costs six pounds thirty. If they were to offer...
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...S.NO | PARTICULARS | P.NO | 01 | TASK 2.1 | 01 | | M1 & D2 | 02 | 02 | TASK 2.2 | 03 | | M2 & D1 | 04 | 03 | TASK 2.3 | 05 | | M3 & D3 | 07 | 04 | REFERENCE | 07 | TASK 2.1 Resource Allocation A number of factors inhibit effective resource allocation Overprotection of resources, Too great an emphasis on short-term financial criteria, Organizational politics, Vague strategy targets, A reluctance to take risks, and A lack of sufficient knowledge In Japan, some Japanese manufacturing firms, such as Honda and Toyota, have renewed attention back to the importance of cost reduction. They have accumulated this reduction from existing products that will give them more productivity and growth. Strategy Implementation Action Agenda What to do now versus later? What requires much time and personal attention? What can be delegated to others? The insurance industry is undergoing changes that are impacting the types of products created and the business processes required for daily operations. Offers of new services and new distribution systems are driving insurance providers to seek alternate methods to conduct business, as well as innovative technology and a re-engineering of traditional business processes. The expansion and globalization of current products that can exceed expectations and can grow too fast giving rise to several challenges. Managerial...
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