This 9 page paper looks at the case study provided by the student answers 2 questions. First part of the paper considers what type of market research a company may use to assess potential target markets, and the type of methodologies that could be successful when undertaking a market research. The second part of the paper identifies and describes three potential target market segments which may be useful to a holiday activities company. The bibliography cites 10 sources.
Name of Research Paper File: TS14_TEmktrshcase.rtf
Unformatted Sample Text from the Research Paper:
of different approaches to market research which may be adopted by a company. A good marketing information system will allow the company to utilize knowledge this will include people, equipment
and procedures that are able to "gather, sort, analyze, evaluate and distribute present, timely and accurate information for use by marketing decision-makers" (Hooley et al, 2004). The first part of
the market research can benefit from the internal reporting systems, indicating the areas of potential interest to the firm, so that the second area; the market research system is able
to be utilized effectively. In a marketing information system this will then be complemented by a marketing intelligence system and marketing model. In order to undertake research in order to
assess potential markets the first stage is to determine what type of market research approach will be useless. As a company seeking to assess potential new markets the research approach
adopted will make use of both quantitative and qualitative research processes. Market research will begin with production of quantitative data, in order to help identify and assess potential markets by
gaining statistically significant results from a large number of respondents as are representative of potential target markets (Curwin and Slater, 2004). Following the identification assessment of potential target markets and
preliminary data, qualitative research may be undertaken with a smaller number of respondents in order to gain a more complex and rich understanding of the market, its needs and the
way that the company may be able to compete in that market. The first consideration is to determine what research methodologies will be utilized. It may be argued that the
first consideration will be assessing the dates which is already within the companies and databases, to determine areas of the company wants to investigate and performance of the company in