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Market Research Implementation Plan

In: Business and Management

Submitted By its715dcruz
Words 1476
Pages 6
Market Research Implementation Plan
Chad Christeson, Cussetta Williams, Liz Dela Cruz
MKT/441
August 21, 2011
Kevin L. Maevers, MA, AICP

In order to keep up to date the with the current market wants, needs and trends, our team would like to use World Wide Surveys and Social Media in order to maintain and build Virgin’s share of the market. In order to have a solid basis to make correct business decisions, it is important to have the correct industry knowledge. To Virgin Atlantic, just knowing what the industry standard is not enough. The company must maintain up-to-date knowledge over their current market position in order to maintain its market share. Having up to date knowledge of the market share allows Virgin Atlantic to know how the company fits in the Industry. This data can be analyzed from the results of the World Wide Survey’s done the International Air Traveler’s Association (IATA), the Transatlantic Passenger survey (TAPS), and the Survey of Passengers on Europe Asia Routes (SPEAR). The results in surveys such as these have a profound on market share, business predictions, investments, and investors. Secondary market research is by definition, “Market research that’s already been compiled and organized…Secondary research uses outside information assembled by government agencies, industry and trade associations, labor unions, media sources, chambers of commerce, and so on” (Entrepreneur, n.d.). Virgin Atlantic Airways and competing airlines are subject to government, agency, trade, and consumers’ ratings, surveys, and opinions. The most powerful reviews are those that come from consumer reviews and agencies who cater to consumers providing statistics and company information regarding the company and industry. While conducting secondary research on Virgin Atlantic, commercial resources including consumer reviews and awards return the most...

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