Global Cash Systems

Archive for the ‘Market Research’ Category

Section 1: Market research proposal

Introduction

Cheung Bei Computer Industrial Company Limited (abbreviated as CB) is a Chinese based company that specialises in the production of computers and computer related products. CB has also been producing a particular notebook computer known as DIL. In order to ensure that its clients are satisfied with the product, it is imperative for this company to find out what their clients are looking for in the ideal notebook computer. (Tiu & Crimp, 2000)

Information from this research will be important in determining the success of the new product. This is largely because the company is likely to include this information in launching their product into the market. Most DIL consumers emanate from the professional segment; consequently, prices of this commodity were a bit on the high side. The latter issue has attracted the attention of this company to consumers representing the personal segment or ordinary consumer segment. It is expected that this group may be concerned about the issue of price and the latter proposal will ascertain whether this is a true fact or not.

The client has set a period of eight weeks for the completion of the project. Consequently, all the tasks in the research will be distributed evenly within this period. Allocations will be done depending on the weight of the task and how many parties will need to be involved in the process.

2.0 Research objectives

The following research objectives have been identified and agreed with Cheung Bei

2.1) To identify the right target audience for the notebook computer

2.2) To identify the internal and external features that consumers look or in the notebook computer

2.3) To explore the market psychology of notebook consumers prior to purchasing the commodity – market features such as price will be considered

2.4) To determine what features make CB’s competitors do well

3.0 Information coverage

Information for this research will be collected according to the following hierarchy of needs:

3.1) Focus group information

The focus group will be essential in determining the factors that consumers consider when making decisions about the purchase of notebook computers. Besides this, they will also reveal information about sources of information that they rely on before choosing to buy a notebook computer.
3.2) Notebook computer information

This part will dwell on how the notebook computer is regarded by clients in terms of its appearance.

Information such as the computer’s exteriors design will be looked into. For example colour, design and thickness

Information about the interior features of the computer will also be imperative. Things such as display cards, memory, CPU, mainboard and other features will be examined

3.3) Competitor’s information

Information about the kind of features that make competitors more successful within the market will be sought. This is especially because the market has become relatively competitive today. Special emphasis will be given to price offerings in this particular industry segment as it was a serious concern by CB

The office products market is a very extensive sector composed of specialised niche market segments like paper and stationery, filing products, computer accessories, business machines and general office products. It has also grown through the years by expanding into the non-niche market segments particularly in printing and copying services, office furniture, office appliances and the arts and crafts sector.

In Australia, it is a very lucrative industry as it accounts about A.8 billion in revenue as of June 2008, including $ A7.5 billion in its core office products market. However, the office products market is on a 2.9% decline in 2009 and expected to decline by 6% by the end of the calendar year. Overall, the global financial crisis has adversely affected the industry’s business situation including niche market segments as well. Market researchers agree that the current business landscape is different as compared with other sectors and so different strategies are required for the office products industry to operate successfully. Despite the discouraging economic indicators, industry officials are still optimistic and hopeful that they can weather the economic crunch.

The office products market has evolved and now venturing into other sectors particularly in the printing industry. By following the printing industry trends, the industry has collaborated with print providers and commercial retailers to answer the growing need for outsourced and in-house printing. In this collaborative set-up, both parties are ensuring constant income flow and realise their business goals.

Market research is any organized effort together information about markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.

Market research, includes social and opinion research and is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making

Introduction to Market Research

Good instincts and intuition certainly play important roles in business. But gut feelings about your customers’ needs and preferences aren’t enough. If you want to minimize risk and improve your chances of success, you need sound and objective data. That’s where market research comes in.

Market research is the process of collecting and analyzing information about the customers you want to reach, called your target market. This information provides you with the business intelligence you need to make informed decisions. Market research can help you create a business plan, launch a new product or service, fine tune your existing products and services, expand into new markets, develop an advertising campaign, set prices, and/or select a business location.

World wide web Marketing and advertising Research Agency

Marketplace study is the way that businesses collect information about their consumers, competitors, and the effectiveness of their marketing campaigns for those of you who are questioning what it is. In recent years the world wide web has had a enormous have an effect on on the way that companies have been conducting their market analysis through the a variety of methods that are available for them to use. Companies know that almost every person and their dog get on the world wide web for 1 reason or yet another and this is a fantastic way for them to be ready to gather data about what their shoppers want as nicely as preserve an eye on what their rivals are carrying out. The internet is also a great way for firms to test and attempt different marketing and advertising campaigns just before they invest millions of bucks on them. There are a few distinct ways that the internet has had an impact on the way that market place analysis is executed.