your own business
...advantages of each? 1. Discuss the functions of the Marketing Department at Fitness For Life plc. Marketing is the management process responsible for identifying expect and satisfying consumers requirement profitably (from the chartered institute of marketing). Other definitions of marketing include: Marketing is about creating customers looking at all your activities through their eyes and giving the customers what they want and at a profit. Marketing is not just selling it is about what a company believes about its products it is about aims and objectives, it is driving force for all the people who work there From these definitions we can see that marketing activities include: Carrying out marketing research to identify customer needs and wants. Producing a product that meets customer needs and wants. Calculating the price that meets customer demand. Producing the quantities to supply customer demand. Promoting the product to the customer. Distributing the product to the place where it is appropriate for the customer to buy it. Marketing is important to the whole business 2. What are the different methods of market research and the advantages and disadvantages of each? Primary Data Collection Secondary Data Collection Field Research from initial source Desk Research using existing sources Survey / Questionnaires • A survey is usually used when carrying out research. • A questionnaire is a set of questions that is designed to provide specific information (see notes on questionnaire design) • It must also be remembered that people are not prepared to spend a long time filling it in so it must be easy to understand and complete. Government Statistic by the Office for National Statistics: Regional trends: e.g. population movements taking place within the U.K Social Trends: e.g. how consumer spending is changing Economic Trends: these summaries the changes taking place in the economy. Interviews • Information can be obtained quickly, and the interviewer can explain question if necessary. • Questionnaires have to be designed carefully, and it can be an expensive method of collecting data. Data from inside the business • Sales and production figures. • The cost of advertising and marketing campaigns. • Selling and distribution cost Postal Survey / Internet / • This is normally less expensive than conducting interviews, and a wide geographical area can be sampled. • The postal survey may have only a low response rate, and points cannot be clarified. Government Census • (Government statistics) Consumer Panels / Test Samples of products • Different types of panel can be used: e.g. product panels obtain views on new products, and buying panels are used. Mori Poll of Political opinions Carrying out market research How? Door to door Phone calls In the street Set up a stand in the city centre Advantages of door to door Disadvantages of door to door Takes time Task Two What methods of market research will you carry out? List what information you think you need to gather, state what type of research it is and why you think it is important for Fitness For Life to use this type of research. Task Three You will need to carry out research into the range of leisure clubs your competitors have on the market at the moment Find out the types of clubs, area they are located, the facilities they offer and membership deals they run. Visit one of the facilities and collect information of the amenities available. Produce the results of the survey using the most appropriate method to present the information e.g. table, graph. Task Four Having researched your competitors’ products, you now need to carry out market research to find out what the customer wants. You will need to design a questionnaire to find this information. Design a questionnaire to find out such details as • Which clubs are used? • The activities people take part in? • People’s opinions of the facilities in the area? and any other questions you think you need to know to help you decide on your new leisure club Carry out research into the different methods of sampling a representative group of the general public. Choose one to use for this questionnaire. Discuss why this sampling technique is appropriate to Fitness For Life plc. Produce the results of the questionnaire on consumer needs and preferences. Select the most appropriate method to present the information. Task Five You now need to gather all your research together and write a report to the Board of Directors of Fitness For Life plc on the possibility of a new Fitness For Life Health Club in the Preston area. The report should be broken into the sections outlined below. Front Cover Company Name Title of report To: From: Date of Report: Terms of Reference for the report Market Research Methodology 1) Role of Marketing Department at Fitness For Life plc (Task One) App 1 2) Market Research a. Importance of Market Research, different methods of market research and the advantages and disadvantages of each. (Task One) App 2 b. Methods of market research carried out. (Task Two) Findings 3) Competition findings App 3 4) Explain what the information means to the opening of a new Fitness For Life plc Health Club 5) Questionnaire findings App 4 6) Explain what the information means to the opening of a new Fitness For Life plc Health Club Conclusions 7) Refer to your findings and discuss possible course of action that Fitness For Life could take regarding a. Size of ...