Unit 10: Market Research in Business
Unit 10: Market Research in Business
In this assignment I will continue working alongside the local entrepreneur to discovering whether or not there is a market available in order for them to open up an internet cafe. I will be creating a research plan which sets out to investigate whether or not the entrepreneur should set up the business. The research plan will have to consist of objectives and these objectives must be S.M.A.R.T, the research objectives will also have to be based on what I would like to focus on. I must also state the methods which I would chose such as qualitative or quantitative data and so forth. Lastly I must be able to justify as to why I picked my chosen research methods as opposed to other research methods, so I must be able to provide a good argument using as to why my chosen research method is best.
P3: Plan research for a selected product/service using appropriate methods of data collection.
The first S.M.A.R.T objective based on my planned research is: “Within 12 weeks discover which target market the organisations will specify the product/services on”
The methods of research that I will use in order to understand who the target market will be is surveys and observation (mystery shopper). Most people that use the internet café are teenagers or consumers who do not have the privileged to have internet access available to them and the people who enjoy the café use it as a leisure stop for meetings or catching with friends while drinking coffee.
I would use observation to find out the specific time when most people use the internet by doing this you can have a peak hour when you charge more to use a computer because it is hard to find a free computer to use the internet for. In addition to this because you are looking to open an internet café you will have variety of age groups at the establishment I would use observation to what are the popular times that each age groups come into the café by doing this you would know at what
In this assignment I will continue working alongside the local entrepreneur to discovering whether or not there is a market available in order for them to open up an internet cafe. I will be creating a research plan which sets out to investigate whether or not the entrepreneur should set up the business. The research plan will have to consist of objectives and these objectives must be S.M.A.R.T, the research objectives will also have to be based on what I would like to focus on. I must also state the methods which I would chose such as qualitative or quantitative data and so forth. Lastly I must be able to justify as to why I picked my chosen research methods as opposed to other research methods, so I must be able to provide a good argument using as to why my chosen research method is best.
P3: Plan research for a selected product/service using appropriate methods of data collection.
The first S.M.A.R.T objective based on my planned research is: “Within 12 weeks discover which target market the organisations will specify the product/services on”
The methods of research that I will use in order to understand who the target market will be is surveys and observation (mystery shopper). Most people that use the internet café are teenagers or consumers who do not have the privileged to have internet access available to them and the people who enjoy the café use it as a leisure stop for meetings or catching with friends while drinking coffee.
I would use observation to find out the specific time when most people use the internet by doing this you can have a peak hour when you charge more to use a computer because it is hard to find a free computer to use the internet for. In addition to this because you are looking to open an internet café you will have variety of age groups at the establishment I would use observation to what are the popular times that each age groups come into the café by doing this you would know at what