Task A: Carry out secondary research on how one of the organisations looks at marketing research.
Attend a meeting and discuss findings
Morrison Supermarkets Plc (Morrison’s) is a UK supermarket chain which offers a wide range of products, including groceries, fish, meat, bakery items, alcoholic and non-alcoholic beverages, dairy-based products, pharmaceuticals, and a variety of products for the home, such as garden furniture and tools. Morrisons has a network of 425 stores which offer its entire product range, along with products from renowned brands. The company is vertically integrated and controls operations throughout its supply chain; for example, Morrisons owns all of its bakeries, processing facilities and its whole transport fleet.
Market Research: The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole.
Customer satisfaction or dissatisfaction with your products or services.
Opportunities for new products or services.
Trends that could affect your company sales and profitability:
Local and national situations that could create problems and opportunities.
What your competitors are doing.
Market research involves two types of data:
Primary information. This is research you compile yourself or hire someone to gather for you.
Secondary information. This type of research is already compiled and organized for you.
A group survey. Morrisons uses group interviews or focus groups that are useful brainstorming tools for getting information on product ideas, buying preferences, and purchasing decisions among certain populations.
Interviews: Collection of data directly from...