Note: Sample below may appear distorted but all corresponding word document files contain proper formattingExcerpt from Term Paper:
As many of these types of foods are purchased for special occasions, there is also the need for measuring just how many events that typically occur in the projected customer bases' lives during any given year to further estimate market size. Not only does the number of cakes and desserts need to be forecasted, but the flavors and type of cakes and pastries as well. In short, primary research must assist in the primary strategic positioning of the store, validate the store concept, define the market position in terms of pricing and quality levels define the menu and its contents as best as can be measured as well.
In contrast to secondary research where time and costs are typically the major constraints that force companies to use published market research data, the formation of a new business is one is best managed as a longer-term, more thoroughly researched, and more deliberate research strategy. As the risks are much higher when initially starting a new business the need for primary research is most critical to ensure there is a very high level of understanding of just what customers need in terms of a new store, its position, and the role of pricing as a differentiator. In addition, the menu of the proposed store needs to be very accurately tested and validated before the initial opening of the store, as both the bakery items, party items and overall store branding and messaging must all be consistent with one another.
In summary, primary research is critical for minimizing the risk of launching a new store concept, which includes the need for validating branding, messaging, market positioning, pricing and quality perceptions, menu selections and options, and event-driven sales all are understood before the store actually opens. Knowing these elements through primary research will significantly increase the stores' chances for success.
Specific Detail on the Vancouver, BC Bakery and Party Shop Analysis
In defining a highly unique market position for the proposed store concept, the dominant demographic trends in Vancouver, BC needs to be also evaluated. Using the source BC Stats (2005) the demographic landscape is analyzed in this section. What becomes immediately apparent from the analysis of the demographic data of the Vancouver metro area is the exponential increase in the Chinese immigrant population in addition to South Asian as well. As BC Stats (2005) titles this area Visible Monitories, the following graphic is also labeled by this specific name, and is shown below.
Figure 1: Visible or Traceable Minorities in Vancouver Source: BC Stats (2005)
The store concept needs to be evaluated from an ethnic perspective to potentially capitalize on this demographic trend. Additional analysis of the BC Stats (2005) demographic data highlights the increasing dominance of visible minorities in the BC province, with a net increase of 21.6% (BC Stat, 2005). From this demographic research it's also possible to analyze specific areas of the Vancouver metro area to see where ethnic growth has been the most rapid. In defining potential sites for the proposed store concept, the ethnic approach to also marketing the store needs to be considered given the dominant demographic trends that BC Stats (2005) is reporting. Using the data provided in addition to analysis of the Vancouver metro areas shows that the city of Richmond has by far the greatest concentration of Chinese immigrants, which is shown in Figure 2.
The use of demographic data is essential for the definition of potential locations for the proposed store in the event research shows that a strong ethnic positioning is attractive to the target markets. In addition, the use of this demographic data analyzed by location within the city also is invaluable in defining the research methodology for the primary research project as well. It is clear from the use of this demographic data that the rise of ethnically-oriented businesses in Vancouver presents significant opportunities, and in the planning of the proposed store demographics is useful both from a store concept as well as a primary research methodology foundation.
BC Stats (2005) - 2001 Amended Census Profile of British Columbia. Published September, 2005. Accessed from the Internet on October 17, 2007 from location: http://www.bcstats.gov.bc.ca/data/cen01/profiles/59000000.pdf
Figure 2: Richmond
Of Richmond's total population, 54% are immigrants.
Of Richmond's total population, 15% were born in Hong Kong, 10% were born in…[continue]
"Marketing Research Secondary Research Use" (2007, October 17) Retrieved October 27, 2016, from http://www.paperdue.com/essay/marketing-research-secondary-use-35078
"Marketing Research Secondary Research Use" 17 October 2007. Web.27 October. 2016. <http://www.paperdue.com/essay/marketing-research-secondary-use-35078>
"Marketing Research Secondary Research Use", 17 October 2007, Accessed.27 October. 2016, http://www.paperdue.com/essay/marketing-research-secondary-use-35078
Secondary research business information systems- * history business information systems impact mobile technology * Business information systems The modern day society evolves at the fastest rate known so far to humanity. And the trend setter for this rapid change is represented by technology. Innovations are present in all aspects of the daily operations, from the preparation of meals and the spending of the leisure time to the completion of the professional tasks. Within
Since the 1970s, the global retail clothing industry has experienced intense international competition and major shifts in the pattern of consumer demand. These pressures have had far-reaching implications for the clothing industry in the areas of pricing, design, quality, manufacturing processes and employment (Rath, 2002). According to this author, "In the 1970s, traditional manufacturers, particularly High Street retailers with their own manufacturing capacity, found themselves unable to compete with low
Marketing research or market research refers to the activity whereby a certain group is targeted top gather information regarding its behavior towards a certain product or service. In other word, marketing research is the activity through which primary or secondary data is collected and this data pertains to the views, opinion and consumption attitude of users towards a specific product or service. For example if an automobile industry is planning
Marketing Research 6855 The purpose of this paper is to apply the principles of Marketing Research process by conducting secondary research for a real life organization and proposing primary research which can be done in the light of secondary research. The first section of the paper presents an analysis of Starbucks using SWOT, 5Cs Analysis, and five forces model. The second section proposes primary research to solve a specific marketing problem. Situation
Ocean Village is UK-based and is uses the differentiated experience of offering families the opportunity to define their own cruise itinerary (Kwortnik, 2006). There is freedom as to when passengers will eat, what they choose to participate in, and the concept focuses on breaking out of the mold of highly predictable and regimented cruise programs. The two remaining brands, P&O Cruises Australia and the Yachts of Seabourn, each have
Marketing Plan Introduction of the Business In 1995, Mr. David Walsh acquired the Moorilla Estate in Hobart. By 2005, the business had incorporated iconic brands such as "The Source Restaurant" and "Moo Brew" as part the suite of offerings. By 2012, the range of product offerings will have expanded further to include the exclusive "Pavilion Apartments," greater wine making capacity, the avant-garde MONA FOMA festival, and the flagship MONA private art museum. As
Marketing Activities of Monster Energy Market Activities of Monster Energy Monster Energy is an energy drink produced and launched in 2002 by the Monster Beverage Company through an affiliation of another company the Sacks and Schlosberg (Gitman & McDaniel 2007). The beverage was produced after the demand increment of the drink to the customers. Its most target consumers are the university students, truckers and much of the sport fanatics. The company works