• Wrong document? Swap it for free
  • Written by students who passed
  • Immediately available after payment
  • Read online or as PDF
Sell
Where do you study
Your language
Document preview thumbnail
Preview 1 out of 4 pages
Summary

Summary M2 UNIT 3

Document preview thumbnail
Preview 1 out of 4 pages

Summary of 4 pages for the course Unit 3 - Introduction to Marketing at PEARSON (M2 UNIT 3)

Content preview

Introduction to Marketing (M2)

Market research includes gathering new or existing information to help analyse and inform
businesses of opportunities which are in the market. It also lets businesses communicate with their
customers and recognize changes which should be made to their products or services; this is why
market research is essential to McDonalds. McDonald’s uses primary, secondary and sales data
research to help them identify what customers want and need. McDonalds will look at both
quantitative and qualitative information and use primary research methods, qualitative (focus
groups) and quantitative (surveys) with secondary data.

Primary Research: This is new research, which is carried out to answer specific issues or questions. It
can include questionnaires, surveys or interviews with individuals or small groups.

Secondary Research: This involves the summary, collation and synthesis of existing research. For
example, researching on the internet, newspapers and company reports.

Quantitative Data: This is information about quantities; that is information that can be measured
and written down with numbers, for example a person’s height.

Qualitative Data: This is descriptive data and as such is harder to analyse than quantitative data. It is
useful for studies at the individual level and to find out, in depth, the ways in which people think and
feel.

Primary research is defined as factual, first-hand accounts of the study written by a person who was
part of the study. The methods vary on how researchers run an experiment or study, but it typically
follows the scientific method. One way you can think of primary research is that it is typically original
research. Research carried out by McDonalds includes quantitative and qualitative data. According
to the manager they carry out surveys to find out the opinions of customers upon their current
market plans to help them plan for the future. Surveys are also carried out to find out potential
opportunities which are available to them of new product ranges. By doing this McDonalds is able to
see potential change in the market and adapt the products they currently sell. In addition to this,
McDonalds also uses focus groups to comment upon planned menu changes. The focus group will be
the embodiment of the customers McDonalds attracts to get the best results. McDonalds will study
the customer’s reactions to the planned menu changes and promotions to ensure that they are
effective and the right message is being put across to the consumer. Focus groups allow McDonalds
to contribute to the planning of the business. Another thing McDonalds uses to their advantage is
test marketing when they are launching a new product. On the other hand though not all new
products are test marketed and therefore does not assist with the marketing of McDonalds. Commented [FL1]: Can you put in some examples of primary
research which has been carried out by Mcdonalds
McDonalds have carried out primary research such as creating their own surveys that their
customers fill in to let know what they think of the products and service.

Secondary research is defined as an analysis and interpretation of primary research. The method of
writing secondary research is to collect primary research which is relevant to a writing topic and
interpret what the primary research found. For instance secondary research often takes the form of
results from two or more primary research articles and explains what the two separate findings are
telling us. McDonald’s carries out a range of secondary research by looking into the performance of
their company compared to others, there is statistics in the graph which is shown below, this is
secondary research as it was not carried out by the company but can be used to benefit them. They Commented [FL2]: Can you put in some sales figures ( you may
need to google) and show how they are the result of secondary
also look at their own sales data to identify what is popular with the consumers and see if the research
performance of the company has improved. By doing this McDonalds is able to see if they should
continue or discontinue a product depending upon how well it is selling. Quite a few of McDonalds

Document information

Study Level
Subject
Uploaded on
May 19, 2017
Number of pages
4
Written in
2016/2017
Type
Summary
$6.87

Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF

Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
clowes
3.4
(63)
Sold
212
Followers
159
Items
126
Last sold
4 year ago



Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Working on your references?

Frequently asked questions