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2024 Unit 22 Market Research Assignment 2 (DISTINCTION*) Learning Aim B & C Plan and implement activity to meet marketing objective & Analyse and present findings and improvements€24,54
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2024 Unit 22 Market Research Assignment 2 (DISTINCTION*) Learning Aim B & C Plan and implement activity to meet marketing objective & Analyse and present findings and improvements
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BTEC
PEARSON (PEARSON)
Business 2016 NQF
Unit 22 - Market Research
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Unit 22– Market Research
Assignment 2
Market research in action
B: Plan and implement a market research activity to meet a
specific marketing objective
C: Analyse and present market research findings and
recommend process improvements
Statistical analysis and interpretation of primary and secondary research……..………………………..…..…..9
Value of the information and conclusion………..…………….…….……………………….….…………….….……….…..14
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Learning aim B: Plan and implement a market research activity to
meet a specific marketing objective
Introduction - Planning stage
P2: Undertake secondary research for a selected marketing objective.
M2: Analyse the reasons for choosing particular research methods, the
type of data to be collected and the sampling plan.
Problem definition – This market research is needed to assist the
decision-making process of a new business start-up. The client wants to
open a mobile coffee stall business; however, the coffee shop business
sector is highly saturated/competitive in the area. Therefore, it is crucial
to undertake relevant market research to identify market gaps, help the
business stand out from the competition, thus increasing the chance of
business success. The main purpose of this research is to inform the
client on the business opportunities in the sector. It will achieve this by
the use of up-to date secondary research as well as some primary
research. A pilot questionnaire will be undertaken to help to ensure that
the primary research market plan is entirely relevant to the business
start-up. The information collected form this research will help to identify
gaps and opportunities in the existing coffee shop market, thus it will
help the client launch their enterprise successfully.
Set research objectives – before carrying out the market research it is
vital to decide what is it that you need to find out from the research.
Once those objectives have been set it is easier to decide on the type of
research method to use to achieve them. Research can be undertaken
to find out a renege of date, for example what customers prefer,
customers buying patterns, competitors’ activities and what are the best
advertising strategies. As the client wants to open a mobile coffee shop
this report has come up with objectives to help deeming if and how this
business can be turned into successful venture.
1. To investigate the local competition.
2. Find out whether there is demand for the business in the market
and what the earning potential is.
3. Find out what people like to have with their coffee to help increase
sales margin.
4. To create a budget for the market research campaign.
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Budget – The business has a budget of £10 000, bellow is a rough plan
on how this investment will be spend:
Van £3500
Salary £2000
Coffee machine £1500
Coffee £100
Legal expenses for the license £1 300
Marketing £600
Food service equipment £500
Furniture £500
Determine what data is to be collected – this research will use a
combination of qualitative and quantitative date to create reliable
conclusions. First a secondary research will be used to analyse the
coffee shop market as a whole (quantitative research), to find out if there
is potential/gap in the market (link to research objective 2). This will
determine if it is a good idea to start a business in the coffee sector.
After this is determine it comes time for the primary research which will
be in the form of pilot questionnaire. This type of research allows to find
accurate, relevant and up-to-date market information, because we have
control over the sampling size and method.
Secondary research - According to BBC the UK have reached a coffee
shop saturation[ CITATION Luc17 \l 2057 ]. Experts suggest that there are
“four to five years structural growth remain in the UK coffee market”.
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