Unit 10 Introduction to marketing research M1

This business report aims to show how important a marketing plan is, demonstrate the key elements of a successful marketing plan and how a marketing plan helps a company to sell its products and service. This Marketing plan will use the company Aldi as a case study, (the supermarket chain) to demonstrate how a marketing plan works. Aldi is a major supermarket chain that provides highly competitive retail food products to households. As a retail company they face all the marketing problems that other retail company faces (product range, price and marketing segmentation).

- Product Development- product development is composed of existing markets and new products, it occurs when an organisation with a current or existing market undertakes a strategy of creating a new product which provides

“It doesn’t matter how hard you hit, It matters how hard you can get hit and keep moving forward” is something that thoroughly describes me. I am a fighter, whatever comes my way I am willing to complete no matter what happens. Also, I am wise; I try my hardest in school and in life. Finally, I am brave. I will do anything and everything that comes my way. To an extent! Expressing me is something I love to do and this story will tell all about me and my personality.

There are different types of research which can be used to get the information needed for marketing research. Primary research is information which you conduct yourself when you cannot gain information from secondary research which is readily available. This information is very useful because you go the results yourself and you are able to give your own opinion of results which you have obtained. Primary research is more expensive than secondary research because you have to collect the equipment by yourself and set up the different methods of obtaining your information. Secondary research is information which has been conducted previously by someone else, it is of great use as well because it saves time as it is ready for you to use and is

6. There are 4 P’s within the ‘marketing mix’. These are: price, product, place and promotion. Products produced by companies can be both services which are intangible and goods which are tangible. The product model is made up of 3 parts:

There is a new sheriff in town in the arena of the online gaming world and its name Is Flash Fight, this multiplayer video game changes the way online gaming world has represented its self, Flash Fight is the most popular online gaming system yet. This is a game in which multiple amounts of individual fight random individuals around the world and when and if you win the match you move up to the next strongest individual which is determined by the number of wins versus losses there are. This games promotes the sport not violence so after every matches hands are shaken and or hugs are giving to show respect.

Qualitative research is a method if inquiry appropriated in many different academic disciplines, traditionally in the social sciences. In marketing terms, this means investigating the features of a market through in-depth research that explores the background and context for decision making. It’s also used to deeper into issues of interest and explores nuances related to the problem at hand. Examples of qualitative research are focus groups, triads, dyads, interviews, uninterrupted observations and bulletin boards.

In addition, the firm is developing employee training programs and integrating new software systems to facilitate the effort. Marketing has encouraged the purchasing department to find ways to reduce costs of ordering foods and minimize the amount of food to be stored, while also having a zero stock out policy. In response, purchasing has developed a supplier relations program and has solicited the help of marketing to help roll out the program. Historically, Kudler Fine Foods has tracked information such as dollar value and profit margin per transaction, dollar sales and profit levels by day, and dollar sales and profit margins by item. However, in an effort to leverage the information to create a more intimate relationship with their customers, the firm is integrating a system to track customer purchase behavior over time. The firm is in the process of developing this system now” (, ). The new processes described above should reduce overhead inventory while keeping the consumers happy due to keeping the items that they want. Coinciding with the new initiatives of purchase behavior pattern tracking, this should give the purchasing department help in determining what items to buy and the quantity of those items. Using new software to streamline processes and producing employee training programs will help Kudler to become more efficient in providing consumers exactly what they want to purchase.

New product development is crucial for a business to succeed. Firms that decide to introduce a new product to market must create a product-development strategy. The new offering of a product involves the same steps, but it will also depend on the size of the company and the type of product to decide if the product testing will be necessary before launching to market. The new

| To achieve the criteria the evidence must show that the learner is able to:

For the last two years, Central Store has been working with SEE-LA to improve its fresh produce, promotion of healthier foods and its customer service. The store has received government grants to purchase equipment to meet their needs. For example, the store now has a compact display refrigerator to place fresh fruits and vegetables cups and other premade healthy food options. Furthermore, the store has also been given a bigger produce display refrigerator to accommodate the needs of the community.

3. Assignments should be in a ring-binder or stapled with the prescribed coversheet and grading sheet(s)

To know the impact of marketing investment: With the help of an accurate data, one can predict the output or significant and measurable performance impact in future of marketing investments made today. This helps in predicting whether the marketing plan is worth investing in or not and can save millions of dollars for a company.

The traditional view of marketing is that the firm makes something and then sells it. A) Will not work in economies where people face abundant choice. B) New

Market research will be helpful in identifying the potential customers and regions, competitors in the business. Thereby one can keep their focus in the relevant areas to succeed in the market. A complete market analysis will provide a good idea about the market size and segmentation, product differentiation and all the relevant data to solve marketing challenges. While introducing a new product into the market, the market analysis will determine whether is there any demand for this kind of product and is producing the new product will be profitable or not? In general, companies will perform the market research