Unit 3: Introduction to Marketing
In this task I will describe how Pret A Manger uses market research to contribute to the making of its marketing plans, I will then explain the limitations that Pret A Manger will face during this and then I will give three recommendations with an explanation explaining why Pret A manger should use them.
Marketing research is the process or set of processes that links the consumers, customers, and end users to the marketer through information.
Companies carry out market research as it permits them to examine the products and services which they offer or are going to offer which gives them a chance to arrange out in the event that they're going to do ...view middle of the document...
Pret A manger can use the internet to find out what their competitors as they can use it to see how different their products to theirs and see why they may be doing better at it.
The importance of market research in understanding the market environment is that it will allow the business to see what the market environment are interested in and what they would like to purchase. By understanding the market environment, the business will know what to produce and sell as they know that they will make sales. Also, another advantage of understanding the market environment is that Pret A manger will be able to see what the customers desire and offer products of what they know the customers will purchase, not only this but also by understanding what the competitors are doing and how they are trying to attract customers, which is a method Pret A manger can use to appeal and attract customers.
Primary research is collecting data or information that did not previously exist by the business itself.
Focus groups: This is where a group of people aregathered and are asked about their opinions, thoughts, attitudes and beliefs towards a product or service.
Surveys: These be can be face to face or electronic either by e-mail or online.
Questionnaires: These are questions designed to get information from the people about a specific topic and their views.
Secondary Research is data that is being collected by the business or someone else that already exists.
Websites/online: This is where the business can gather information about a specific topic online from different web pages.
Books and Newspapers: The business can gather information from books and Newspapers that have been written and published.
Data records: These are information that already exists within the business in the records can be used for various reasons. For example, a record of a customer and their details.
Quantitative information are usually in the form of numbers and frequencies, they are number based.
Qualitative information is information based on individual decisions and natures of current trends, for example providing information about why customers buy a product or service and it also provides more information in depth than quantitative information as it is written information.
One of the market research Pret uses to find out about the customers and what they would like is the internet. This is because customers are able to leave their feedback on the company page of what they like and what needs to be improved. This way Pret get to know how their customers are feeling about their product and will find it easier to improve certain parts of their product as they will easily find out what part needs to be improved immediately. Another example, is because Pret have questionnaires on their page, which help them gather their customers opinion of they think about the business and Pret also get to find out a lot of key details of what the customers expect....