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Unit 10 P1 (Pass) International Business Studies Btec
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Unit 10 P1 (Pass) International Business Studies Btec
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Learning outcome 1: understand the main types of market researchused to make marketing decisions.
Unit 10: Market research in business
P1: Report.
Tutor: W. van Gaasbeek
Student: Arno Vollebregt
Class: IBS 2 B
Date: 17-03-2017
1
, Primary research methods
Observation
For the example I am going to use, it is very useful to use observation for the market
research. My example is a concept of selling blueberries to the people I know in the
neighborhood. Observation gives you information about which customer is interested in
what products in the supermarket for example; you exactly know who is buying the
product, in which quantity and in which frequency. If I go to the supermarket in my
neighborhood I can see who is coming there and what they buy.
If I see that certain come to buy the blueberries once in a week or even more often, I
can talk to them and ask if they are interested in the blueberries I sell for a cheaper price
than in the supermarket. I already know in what quantity and frequency they eat the
blueberries, I could give them a special price if they keep ordering at me as much as
they will buy at the supermarket.
This won’t cost me a lot of money because I will do the observation myself and I only
have to stand there and look at people’s behavior of what they buy.
Experimentation
For this example of experimentation I will stick with the example I have used for the
observation. To experiment with my concept could be a very handy way to find out if I
can make more profit. To experiment and find out how I can make more profit I can
change something in my marketing mix. For the first ‘P’ of product I cannot really change
something because I am selling blueberries and nothing else, I could find blueberries
fresher but then the price will increase. For the ‘P’ of place a plan like delivering the
berries at the consumer’s houses is a very good plan. People will be happy that their
blueberries will be delivered at home and do not have to go to the supermarket for the
berries anymore. For the ‘P’ of promotion it could be very effective to make flyers and
hand those out to the already existing clients. The clients can give the flyers to people
they know, like their family, friends or neighbors. This is an effective way to promote my
concept of selling blueberries. For the ‘P’ of price it is important to make sure what my
competitors are selling the blueberries for, what I am selling them for, what I do have to
pay for them and how much profit I want to make. The purchase price will be different
every week; this is because there not the same amount of blueberries available every
week, if there are less on the market and the demand stays the same they will get more
expensive. If there is more supply than demand the blueberries will get cheaper. Based
on the purchase price, I can determine my selling price.
2
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