Assignment 2 Marketing Plan Part 2
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Marketing Plan Part Two
Assignment Two – BML104 Introduction to Marketing
James Lynch
Contents Page
Pages
Task Five: Marketing Research 3 to 4
Task Six: Strategies 4 to 6
Task Seven: Segmentation 7 to 8
Task Eight: Marketing Mix 9
Task Nine: Control 10
Bibliography 11
Word Count: 1529
Task Five: Marketing Research
Marketing research is the process in which a company collects information for the purpose of identifying: customer needs, marketing opportunities, problems or issues with a product, levels of competition and monitoring the company’s performance in the market. There are many ways of collecting this information available to companies (Figure 1)
Primary Data
Primary data research is collected by the company. It enables them to directly target their specific market segment. It has the potential to be very current and specific to the companies market.
Secondary Data
Secondary Data research involves using data already available to the company such as the Census and Government Documents.
Quantitative Research
Quantitative Research involves using statistics and numbers.
Qualitative Research
Qualitative Research involves using people’s attitudes, values and opinions.
Sampling
Sampling is studying a small part of the ‘population’ by area, age, income etc. to learn about the ‘population’ as a whole.
Figure 1 – Marketing Research Methods
BMW is within the top five cars manufactures in the automobile market in the UK and in the top ten in the USA, with figures of 9.5% market share in the UK (Figure 2) and 3.2% market share in the US (Figure 3) ‘Cain, 2012’.
Figure 2 – UK automobile market share Figure 3 – USA automobile market share
From the figures above, it is clear that BMW have a large market share in both the UK and the USA. It is also clear that BMW have many competitors within the automobile market, the closest competition coming from Ford with 14.28% UK market share and 15.5% USA market share, Volkswagen Group with
Marketing Plan Part Two
Assignment Two – BML104 Introduction to Marketing
James Lynch
Contents Page
Pages
Task Five: Marketing Research 3 to 4
Task Six: Strategies 4 to 6
Task Seven: Segmentation 7 to 8
Task Eight: Marketing Mix 9
Task Nine: Control 10
Bibliography 11
Word Count: 1529
Task Five: Marketing Research
Marketing research is the process in which a company collects information for the purpose of identifying: customer needs, marketing opportunities, problems or issues with a product, levels of competition and monitoring the company’s performance in the market. There are many ways of collecting this information available to companies (Figure 1)
Primary Data
Primary data research is collected by the company. It enables them to directly target their specific market segment. It has the potential to be very current and specific to the companies market.
Secondary Data
Secondary Data research involves using data already available to the company such as the Census and Government Documents.
Quantitative Research
Quantitative Research involves using statistics and numbers.
Qualitative Research
Qualitative Research involves using people’s attitudes, values and opinions.
Sampling
Sampling is studying a small part of the ‘population’ by area, age, income etc. to learn about the ‘population’ as a whole.
Figure 1 – Marketing Research Methods
BMW is within the top five cars manufactures in the automobile market in the UK and in the top ten in the USA, with figures of 9.5% market share in the UK (Figure 2) and 3.2% market share in the US (Figure 3) ‘Cain, 2012’.
Figure 2 – UK automobile market share Figure 3 – USA automobile market share
From the figures above, it is clear that BMW have a large market share in both the UK and the USA. It is also clear that BMW have many competitors within the automobile market, the closest competition coming from Ford with 14.28% UK market share and 15.5% USA market share, Volkswagen Group with