Introduction to Market Research: First Direct Case Study

In: Business and Management

Submitted By Lucyquilter
Words 2568
Pages 11
Understand the main types of market research used to make marketing decisions
In this report I will be discussing the different forms of market research and how these methods have been used to make marketing decisions for first direct.
Carrying on from this I will be suggesting how different methods are appropriate to enable first direct to revitalise its brand relaunch and evaluating the businesses market research.
Marketing is a management process which is responsible for identifying, anticipating and satisfying consumer requirements profitably. To satisfy consumer needs is to make sure the consumer gets what they want. You do this through market research. The first stage of market research is to plan it also called the ‘MR process;
.Define the problem .Define research objectives .Choose data sources .Choose research methods .Set budgets and deadlines .Undertake research .Analysis and evaluate
Choosing the research is what I am focusing on today. There are four main sources of research, qualitative, quantitative, primary and secondary.
Primary research
Primary research is new information obtained by an organisation first hand from using their own resources and collecting their own data to answer specific issues or questions. The method can involve observation, experimentations, surveys, focus groups, interviews, field trials and panels.
Surveys are one of the most frequently used methods of market research, there are four common ways of conducting a survey, via post, email, face to face and over the phone. The survey allows a careful study of a specific topic questioning consumers and gaining their opinion, it will involve a sequence of questions which may be in the form of a questionnaire or interview depending on the way you present it. A panel is similar to a survey but is conducted over an extended period of time with the same group of people. When…...

Similar Documents

Fresh Direct Case Study

...Embryonic Stem Cell Research Legislation and related legal issues Heidi Brannen Law 310 Professor Floyd June 1 Human embryonic stem cell research has been and will continue to be a very controversial issue in society all over the world. Many countries have recognized the importance of this research and its benefits, while others have continued to make such research illegal with no plans to change in the near future. This paper will be discussing the past, current, and hopeful future legislation in regards to embryonic stem cell research and how it could affect the future of medical advancement.   Embryonic Stem Cell Research Legislation and related legal issues Research on human embryos and fetuses has been in development for decades with the first well known development being the polio vaccine which stemmed from work on cultures of human fetal kidney cells in the 1950’s. The controversy of such research is not so much in the science of the research itself, but in how the cells are obtained from unborn embryos and fetuses in their earliest stages of development. In the 1970’s, the controversy focused on research involving fetuses in utero, aimed at developing techniques such as amniocentesis and improving the understanding of conditions such as congenital heart disease, as well as on research involving tissue from aborted fetuses of the type that led to the polio vaccine. Federal funding of this research was halted until guidelines and......

Words: 1499 - Pages: 6

Research Case Study: Vodafone's Youth Market

...Research Case Study: Vodafone's Youth Market | | INTRODUCTION This case study will explain how the highly competitive telecommunications market lead Vodafone to set up an on-going 'panel' of respondents to give them a greater understanding of the youth market. THE CLIENT Vodafone is probably the biggest success story of the telecommunications market, becoming a household name with a penetration of 29% (TNS Telecoms panel Q3 2001) of the mobile phone market. Vodafone's media and planning agency, OMD UK plays an important strategic role in terms of researching the commercial market. THE CHALLENGE Operating in such a highly competitive industry meant that Vodafone had to look at new ways of researching how it could best profit from the hugely competitive youth market. The youth market is defined as anyone aged between 16-24 years old. Currently 90% of all 16-24 year olds own a mobile phone in the UK, amounting to 6.1m people in the UK. THE SOLUTION OMD UK, along with 2CV Research, recruited a panel of volunteers who receive monthly questionnaires over a long-term period in order to build up a profile of habits, attitudes and opinions of the young Vodafone user. The panel is made up of 200 respondents, all of whom must have an email address and a mobile phone (this is 85% of the youth market), and is maintained by 2CV. Questions sent out every month cover a whole range of areas, not just telecommunications. The idea is to build a very comprehensive picture of...

Words: 841 - Pages: 4

Introduction to Market Research

...MARKET RESEARCH ASSIGNMENT I TOPIC: MARKET RESEARCH – Need, Tools and Examples ABINAYA NARESH ANANTHAKRISHNAN ANANTHAPADMANABHAN P ARUN PRASANNA A.P ASWIN KUMAR U.K WHAT IS MARKET RESEARCH Market research is any organized effort to gather information about markets or customers. It is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. Market research provides important information to identify and analyze the market need, market size and competition. Firms conduct research on a continual basis to maintain a competitive edge and keep up with market trends. Regardless of whether the business is starting or expanding, market research is vital to understanding the target market and increasing sales. NEED FOR MARKET RESEARCH The need for market research arises from the need of information for businesses – information about customer needs, competition, market demand, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment, characterised by frequent: Changes in technology – enabling newer products and new production processes (e.g. switching of screens to OLEDs) Changes in consumer tastes –the demand for some products declines, whilst others......

Words: 1676 - Pages: 7

Fresh Direct Case Study it the next day after the customer’s order is placed. They specialize in delivering over 3,000 items including seafood, fruits, vegetables, coffee, meats and cheeses, and items from the bakery. This company was launched by Joseph Fidele and Jason Ackerman in 2001. Jason Ackerman is the company’s current CEO. Since they are a privately owned company profit information isn’t readily available but it is estimated that the company increased revenue in 2009 by $20 million and estimated $250 million in 2010. “Ackerman says FreshDirect now does 25,000 orders per week. Many customers are attracted by the $50 worth of free food that comes with a first order; others by prices that can be 10 to 15 percent lower than neighborhood stores. FreshDirect says it retains about half the customers who try the service, and that the company began turning a profit this January. “We make money doing this. Period. The end,” Ackerman says. “We’ve got lots of money in our bank account. We’re not burning it.”” . They have performed well in this industry against their competition. They have the right idea to not try to get too big too fast. SWOT ANALYSIS STRENGTHS -They have built their company on the convenience of ordering your food instead of having to go to a grocery store. -Unique business model by letting customers customize......

Words: 1447 - Pages: 6

An Introduction of Foxconn Case Study

...Nicole An Introduction of Foxconn Case Study The organization I want to research is Foxconn Technology Group, which is an electronics contract manufacturing company. Terry Gou founded Foxconn in 1974. The major fields that Foxconn focus on are consumer electronics, digital content, automobile parts and the development of new energy resources and new materials. Foxconn owns many high-end clients worldwide, such as Google,, Apple Inc., Microsoft, Dell, Sony, Nokia and so on. The well-known products that the company manufactures contain iPhone, iPad, iPod, PS 3 and Wii. What’s more, Foxconn assembles 40 percent of all consumer electronics products sold in the world. From 1988, Foxconn started building factories in Mainland China. Until now, it has 13 factories in China with almost one million employees. And after several years development it has factories in Asia, Europe, and South America now. Besides those glamorous sides, Foxconn is facing many tough management challenges. As a manufactory company, Foxconn has hired a significant number of young employees (age between 20 and 25) to accomplish its huge amount of orders quickly. So, a series of problems came out. It hit the headlines following a series of suicides and fights among its workforce in recent years. Thus, Foxconn began to be noticed about its poor working environment, strict working discipline, high working pressure, corporate culture, and worker’s psychological problems. So...

Words: 349 - Pages: 2

Case Study Research Paper

...Introduction to Criminal Justice 100-105 Case Study Research Paper DRUG DISTRIBUTION March 09 2014 Introduction In today’s world many people are convicted for lots of different crimes and face the consequences for those crimes. For example, Unless a longer term of imprisonment or death is the prescribed penalty and notwithstanding any provision that establishes a shorter term of imprisonment, a person who has been convicted of committing or attempting or conspiring to commit any violent or aggravated felony and who has previously been convicted on separate occasions of two or more violent or aggravated felonies not committed on the same occasion shall be sentenced to imprisonment for life and is not eligible for suspension of sentence, probation, pardon or release on any basis except that the person may be eligible for commutation after the person has served at least thirty-five years. Also a person convicted of a first or second offense for the personal possession or use of a controlled substance must be placed on probation unless the person is also convicted of a violent offense. Incarceration may not be imposed as an initial condition of probation for a first offense. If a person convicted of a first offense is found to be in violation of probation or an act in violation of an order of the court related to drug treatment, the person may be incarcerated upon reinstatement of probation. Participation in an......

Words: 1654 - Pages: 7

Fresh Direct Case Study

...allowances. These system characteristics enable FreshDirect to maintain a high product quality while keeping product prices low, therefore their promise to grocery shoppers of “higher quality at lower prices.” The website offers a broad selection of products along with information about the food and how it is sold. Products can be compared on taste, price, usage and nutritional information. Custom cuts and seasonings of meat can be ordered. Delivery options include direct to the home in New York City, or office and train parking lot access in the suburbs. The online segment of the grocery industry is a small percentage of the industry total. Despite a large potential target audience, the on-line segment has been slow to catch on. FreshDirect’s competition comes from traditional brick-and-mortar grocery chains and a handful of other on-line grocers in New York City. The challenge is to compete on price while covering the cost of selecting items in the store and delivering individual grocery orders. As the online grocery market continues to define itself, FreshDirect’s challenge is to continue to innovate in product purchase, storage and distribution, and attract loyal customers while keeping costs down and quality up. Situation Analysis: Strength: Strong brand: FreshDirect has established a powerful online grocery store brand. They have a great reputation of delivering high quality organic grocery items at a low cost. Their great customer service and their......

Words: 2812 - Pages: 12

Fresh Direct Case Study

...Case Study Report COMPANY NAME/WEBSITE/INDUSTRY Fresh Direct / / Online Grocery Store BACKGROUND/HISTORY Fresh Direct is an online grocery store in Long Island City, Queens New York. The company was started in 1999 by Joseph Fedele and Jason Ackerman. Joseph Fedele has been in the grocery business since 1993 and Jason Ackerman was an investment banker when they decided to create Fresh Direct. Joseph was the CEO until 2004 when Jason succeeded him, but he only stayed at this position for seven months. After going through a few more CEO's Jason moved back to the position of CEO and is currently still holding the position. [ (Fresh Direct, Our People, Leadership) ] There are several online grocery stores in the market now and Fresh Direct still ranks as one of the top nine websites. [ (Boswell) ] SWOT ANALYSIS StrengthsStrong marketing campaignLess inventory than grocery storesBetter variety of fresh foodsDelivery of order to front doorPick up from facilityCorporate DeliveryPre-prepared itemsChef prepared meals for business meetings | WeaknessesOnline Market is very competitiveLess packaged goods compared to grocery storesCost of goods higher than grocery storesLimited delivery areaNumerous parking ticketsFuel costs | OpportunitiesExpand to larger delivery marketMore technology users in the world that will use online ordering | ThreatsNational grocery store chains moving into areaNew online grocery stores in the marketTarnished reputation from......

Words: 1096 - Pages: 5

Case Study: to Market or Not to Market

...IHP-504: Healthcare Policy and Financing Case study: To market or not to market Southern New Hampshire University The evaluated case study depicts a scenario wherein a recently established local nonprofit healthcare organization has been in operations for a little over a year. It was founded by a number of healthcare professionals (volunteers) including nurses and administrators who share a common mission, vision and goals. Their mission is to increase the community’s health by extending free preventative health services, such as regular check-ups and immunizations to the most financially vulnerable patient populations, hence their intentions are purely altruistic. The group of healthcare professional volunteers find that since the inception of their venture the results are supremely disappointing as “the current use of their services is only at an estimated 7% of original expectations” (SNHU, n.d., para. 3). Additionally, the no-charge rental space arrangement necessary to conduct the provider-patient physical interactions is limited to the total of three years’ time, and the arrangement is due to expire in less than two years. A new venue may need to be secured and it may not be rent-free (additional expenditures for future consideration). Both the current circumstances that leave a lot to be desired and the uncertain future appear to be increasingly discouraging in continuing this nonprofit venture. However, one of the important aspects that could have......

Words: 1422 - Pages: 6

Case Study for Kelloggs New Product from Market Research

...New products from market research Curriculum Topics • Market research • Types of research • Quantitative and qualitative • Product development Kellogg’s with a sales value of £68 million*. In 2003 the Crunchy Introduction Nut brand created a brand extension. This involved using the The Kellogg Company is the world’s leading producer of cereals. Crunchy Nut name to launch a new product called Crunchy Nut Its products are manufactured in 18 countries and sold in more Clusters. This variant has two varieties, Milk Chocolate Curls and than 180 countries. For more than 100 years, Kellogg’s has been a Honey and Nut. Both of them have enabled the brand to reach a leader in health and nutrition through providing consumers with a wider group of consumers. This brand extension is now worth wide variety of food products. These are designed to be part of a £21 million in annual value sales.* balanced diet and meet the different tastes of consumers. Kellogg’s focuses on sustainable growth. This involves constantly looking This case study focuses on the importance of market research for ways to meet consumer needs by growing the cereal business during the development and launch of Crunchy Nut Bites, a more and expanding its product portfolio. recent extension to the Crunchy Nut brand. The objective of this innovation was to provide a new flavour and texture for consumers, Market research is a specific area of marketing that...

Words: 2461 - Pages: 10

Global Market Research Case Study Analysis

...Global Market Research Case Study Analysis The situation discussed in the case tells of an opportunity afforded Sperry/MacLennan Architects and Planners; the Canadian company was founded in 1972 as a one-man architectural practice and years since then they have become a very respected and profitable company in the field of architecture. It has been recorded in text that Aaker, Kumar & Day (2007) stated, “Eight market niches were identified for Canadian architects in the United States, one of which was educational facilities, in particular post-secondary institutions. This niche, identified as most likely to match S/M’s capabilities, is controlled by state governments and private organizations. Mitch Brooks, a junior partner in the firm, has plans to identify and evaluate other possible markets for S/M’s services as part of his October presentation to the board. Other parts of the United States, or the affluent countries of Europe, where recreational facilities are regularly patronized and design is taken seriously, might provide a better export market, given S/M’s string of design successes at home and the international recognition afforded by the Amherst facility design award.” (Chapter 3). Fortunately for S/M, things began to take a turn in the right direction when their persistence and faith was rewarded in 1983. Sperry won the competition for the aquatics facility for the Canada Games in Saint John. Sperry had gained renowned nationwide acknowledgment for its sports......

Words: 1010 - Pages: 5

To Market or Not to Market Case Study

...To Market or Not To Market: Case Study Differences Between Profit vs. Nonprofit Organizations According to Folland, et al., 2013: Generally, nonprofits do not pay corporate, property, or sales taxes although for-profits do. The only tax advantage enjoyed by for-profits is the ability to write off losses during bad years…On one hand, numerous profit-making firms provide important goods and services to the community, and many provide basic goods, such as food and housing, to the poor. On the other hand, nonprofit firms often serve the well-to-do, and they compete with for-profits. (Folland, et al., 2013, p. 269, 265) Mission and Problem “Community Health Care (CHC) is a non-profit health care organization operating out of Anytown, USA. Its mission is to provide routine check-ups and immunizations at no cost to the economically challenged areas of Anytown. CHC secured a small grant from the state and used the vast majority to purchase all necessary equipment, computers, furniture, and a large supply of gloves, syringes, etc. There is a little money left over that has been set aside for purchasing the vaccinations. They originally believed that through their individual professional networks, they would not need to market CHC. They felt offering such a valuable service for free would result in packed waiting rooms. Unfortunately, the current use of their services is only at an estimated 7% of original expectations. Several individuals within CHC have mentioned shutting down.......

Words: 735 - Pages: 3

Introduction to Pr - Case Study study PETA “Save The Sheep” Campaign | AbstractCase Study on PETA and their international boycott of the Australian Wool Industry. I go into detail about the issue, ‘mulesing’, the tactical strategies used by PETA to gain support and the success of the campaign. Tara Walters S2892604 1510HUM Introduction to Public Relations | case study PETA “Save The Sheep” Campaign | AbstractCase Study on PETA and their international boycott of the Australian Wool Industry. I go into detail about the issue, ‘mulesing’, the tactical strategies used by PETA to gain support and the success of the campaign. Tara Walters S2892604 1510HUM Introduction to Public Relations | This case study focuses on the People for Ethical Rights and Treatment of Animals (PETA) and their campaign to boycott the Australian Wool Industry and in particular the practice of ‘mulesing’ on the sheep (“Save the Sheep” campaign). Australia is one of the world largest producers of wool, and the last country to inherit ethical agricultural practices in the Wool Industry (AWI). Firstly I cover the research and situation analysis aspects of a 10 point plan, describing PETA, the cruel practice of ‘mulesing’ and the PETA campaigns main focus of phasing it out using boycotting. Then researching and explaining PETAS goals and tactics of the plan, going in to detail on the......

Words: 2135 - Pages: 9

Fresh Direct Case Study

...Case Study Report Outline and Grading Guide (150 points) COMPANY NAME/WEBSITE/INDUSTRY FreshDirect,, Food and Grocery BACKGROUND/HISTORY Fresh Direct is a company that allows you to order your food online and get next day delivery, their moto is “Our Food is fresh, our customers are spoiled….. Order on the web today and get next-day delivery of the best food at the best price, exactly the way you want it with 100% satisfaction guaranteed.” The primary business is to allow customers to order their food online and avoid going to a grocery store they can buy anything they want online and you can have it delivered to you house. Key players would be the people who launched the business in 2001 Joseph Fedele and Jason Ackerman. Many companies have fallen online with the grocery service and they boldly stated they were the “greatest way to shop for food” this again was a bold statement in many of these chains have fallen. Company launched in 2001 and by 2011 you had to have a order of 30$ with a delivery fee associated with it. The company started to fall apart when the competition start to raise in the industry that is when they started offering local grown and organic but their were some fields they just couldn’t compete with. 23–30 Borden Avenue Long Island City, New York 11101 U.S.A. Telephone: (718) 928-1000 Fax: (718) 433-0648 Web site: Private Company Founded: 1999 Sales: $200 million (2005 est.) NAIC: 311991......

Words: 1037 - Pages: 5

Fresh Direct Case Study

...ASSIGNMENT: Please read the Fresh Direct (C 19) case analysis carefully and produce a case analysis report following the instructions that are given in the Case Analysis report document in Doc Sharing. COMPANY NAME/WEBSITE/ INDUSTRY Fresh Direct/ and Grocery BACKGROUND/HISTORY Cofounder and former chief executive officer Joseph Fedele was able to bring a wealth of experience in New York City’s food industry to FreshDirect. FreshDirect offers online grocery shopping and delivery service to more than 300 zip codes in Manhattan, Queens, Brooklyn, Nassau County, Riverdale, Westchester, select areas of Staten Island, New Jersey, and parts of Connecticut. Fresh Direct is a company that allows you to order your food online and get next day delivery, their moto is “Our Food is fresh, our customers are spoiled….. Order on the web today and get next-day delivery of the best food at the best price, exactly the way you want it with 100% satisfaction guaranteed.” The primary business is to allow customers to order their food online and avoid going to a grocery store they can buy anything they want online and you can have it delivered to you house. Key players would be the people who launched the business in 2001 Joseph Fedele and Jason Ackerman. Many companies have fallen online with the grocery service and they boldly stated they were the “greatest way to shop for food” this again was a bold statement in many of these chains have fallen. Company launched in...

Words: 1182 - Pages: 5