Explain Methods Used to Identify the Target Market for Pedigree Petfoods and Samworth Brothers
M1 – Explain methods used to identify the target market for the proposed business
Learners need to demonstrate their understanding of the methods used to identify the target market for the proposed business. This will require them to consider a range of methods that could actually be used and to provide reasons for their choice. Market research will almost certainly be included but learners need to explain why. Other methods may prove more challenging but the selection and justification should contribute to a possible business launch, rather than just being a descriptive account of how they could be applied.
Secondary Research
Secondary research was also carried out in order to gather wider information relating to how many curries are being eaten in the United Kingdom. This will allow me to see whether businesses are developing or being taken out the high street. Secondary research is also known as “desk research”, this was done during the planning of the target market. Research was collected from the internet, which allowed me to see how many curries were being sold in a business each month; this also helped me to target the amount of curries i shall be selling within a month. This allowed me to collect information quickly, cheaply and which was partly up-to-date (I looked for more current information, but 2011 was the most up-to-date that i could find), and the source was reliable from a reliable source (Mintel) which I believed it was easy to understand and follow. Different sources was used to make sure that all information gathered was the same and reliable. The type of information i was looking was whether the market was growing and the types of the curry which was the most popular.
Other secondary information I would have liked to found would have been the curry market within the East Midlands as this is the area I will be targeting, information such as the eating habits of night workers would have been desirable, but this was not available, and
Learners need to demonstrate their understanding of the methods used to identify the target market for the proposed business. This will require them to consider a range of methods that could actually be used and to provide reasons for their choice. Market research will almost certainly be included but learners need to explain why. Other methods may prove more challenging but the selection and justification should contribute to a possible business launch, rather than just being a descriptive account of how they could be applied.
Secondary Research
Secondary research was also carried out in order to gather wider information relating to how many curries are being eaten in the United Kingdom. This will allow me to see whether businesses are developing or being taken out the high street. Secondary research is also known as “desk research”, this was done during the planning of the target market. Research was collected from the internet, which allowed me to see how many curries were being sold in a business each month; this also helped me to target the amount of curries i shall be selling within a month. This allowed me to collect information quickly, cheaply and which was partly up-to-date (I looked for more current information, but 2011 was the most up-to-date that i could find), and the source was reliable from a reliable source (Mintel) which I believed it was easy to understand and follow. Different sources was used to make sure that all information gathered was the same and reliable. The type of information i was looking was whether the market was growing and the types of the curry which was the most popular.
Other secondary information I would have liked to found would have been the curry market within the East Midlands as this is the area I will be targeting, information such as the eating habits of night workers would have been desirable, but this was not available, and