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P3 Describe how a selected organisation uses marketing resea
Transcript of P3 Describe how a selected organisation uses marketing resea
P3 Describe how a selected organisation uses marketing research to contribute to the development of its marketing plans.
Market Research is used by Marks & Spencer to help them improve their goods and services. M&S have made many improvement within their website and international businesses. They have also increased customers choice by including a variety of products with promotions which are attracting more customers, therefore increasing their profit.
Primary Research carried out by M&S
M&S uses primary research through surveys, questionnaires and face to face interviews which has increased their customer feedback. By using the primary research M&S has managed to improve on their products and services by good promotional offers that are attracting more customers.
Market Research Types
There are two types of Market Research, these are primary and secondary research. Quantitative, Qualitative and Sampling are also used as types of research for market research.
Quantitative and Qualitative Research carried out by M&S
M&S uses quantitative research such as interviews and surveys to get to know the different customers choices. This has helped them to improve their goods and services. M&S also used qualitative research to help improve their branding, they did this by looking over previous interviews and observations.
Secondary Research Carried out by M&S
M&S uses secondary research to find out about their competitors, they use old reports, surveys and questionnaires to help them promote their business in a way that their competitors may not have used. By using secondary research they have increased their range of food products which has introduced many new customers.
Sampling carried out by M&S
M&S uses sampling to get to know their customers more, they use questionnaires, surveys, interviews and promotions to help them understand their customers. M&S often give out food samples to gain their customers opinions this helps them to find out about their customers likes and dislikes.
M2 Explain the limitations of marketing research used to contribute to the development of a selected organisation’s marketing plans.
Consumer Credits Act 2006 - M&S needs a credit license to be able to sell their goods to customers that are paying with credit. If M&S did not have a credit license they could be fined or sentenced to prison as not abiding to this law is a criminal conviction.
Sales of Goods Act 1979 - This means that M&S must sell their product exactly as described and must products must be of satisfactory quality. If a product is sold that does not match up to the description then M&S could face serious issues.
Consumer Law - This law affects M&S's marketing activities. All the products that M&S sell to the customers must be suitable for the customers. Also M&S have to make sure that they are up to date with this law and that they are not carrying out anything illegal, If M&S were not up to date with this law they would be illegally selling their products to their customers.
Consumer protection from unfair trading regulations 2008 - this laws ensure that M&S are being honest and fair to their customers. All of M&S's promotions and products must be exactly how they are described and advertised. I f M&S fails to follow this law they could lose a lot of their customers and the companies standards will decrease.
Data Protection Act 1998 - This law prevents M&S from using their customers personal information. If Marks and Spencer did not follow this law then their customers will not be fully protected. Also any information about M&S's customer can only be kept for a specific period of time.
Consumer Protection (distant selling) regulations 2000 - this law protects the customers that purchase their goods online. Customers must be able to cancel any of their purchase within 7 days and M&S must follow this law because otherwise they will not be protecting their customers and will be selling products online illegally.
P4 Use marketing research for marketing planning
https://docs.google.com/a/i.reading-college.ac.uk/spreadsheets/d/1XZqMBkC3ID5ct56_i2TtK08UyftS90AXuCYvI4U96gs/edit?usp=drive_web -M&S’s primary research
https://docs.google.com/a/i.reading-college.ac.uk/spreadsheets/d/1pY4rvitqNTw4X_TpO0rp7ScK2eCx1ZxjutQpv3oX6q0/edit#gid=1796604940 - Innocents primary research
T - M&S faces a lot of competition with other companies like H&M, Topshop and New Look this is because they attract a wide range of customers from different demographics. For example Rita Ora is the Celebrity Ambassador for M&S which increases their brand image as it appeals to many different people. However due to other companies holding stiff competition for M&S, it is a lot harder for M&S to appeal to other ages, for example Rihanna is the Celebrity Ambassador for River Island and she has opened her own clothing line within the store. Although in M&S’s recent advertisements they have attracted many new customers which is increasing the brand's image in a positive way as they are introducing new customers. M&S have used secondary research to find out the difference of sales in their clothing line. M&S use previous sales reports from their own company as well as other companies like River Island to compare the sales so that they can improve on their own sales.
W - I have conducted primary research in which I have found out that M&S are losing out on a lot of customers because they do not have clothing products targeted towards other age groups. M&S products are mainly targeted to 55 year olds and this means that M&S are missing out on a lot of sales from other age groups. Although M&S sell clothing to children they do not necessarily appeal to young people around their 30’s.
O - In order for M&S to attract a wider range of customers they must promote their products and services in a way that appeals to other demographics. For example within M&S’s latest advertisements they have included Rita Ora (Singer), Annie Leibovitz (Singer - Songwriter and Human Rights Campaigner) and Alek Wek (Supermodel) whom all appeal to different age groups. This gives M&S the opportunity to expand it’s target market. The advertisement promotes womens clothing and they do this by making the above celebrities promote the clothing. This attracts other customers in different age groups because the above celebrities are all from different age groups.
S - M&S has a wide range of products and services which appeal to their target audience, this is through their good quality products and great value. M&S also have many products which attract many customers, for example they have their own clothing line for men, women and children. I have found this out by creating a questionnaire in which I have asked M&S’s customers to clearly identify what they like most about the store. The majority of the customers stated that they liked the quality of the products that M&S have to offer.