Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

Next, it is to design the market methodology where the method used depends on the information required and the Information already contained In the organization. There are three types of research where Is can be done quantitatively or qualitatively. Types of research include exploratory research, descriptive research, and casual research. The next step is followed by collecting data, analyzing data and drawing conclusion before the last step is taken which Is to present the results and making recommendations before the Implementation take place.

The first step In market research is to define the market problem. Before undertaking market research, timing, relevance, availability of resources, need for new information and cost-benefit analysis should be taken into consideration. These decisions must be made regarding the benefit of conducting the research. The music Industry In Malaysia (Yamaha Music School owner)have notice the increasing number of students who is interested in music and have planned to further their studies in this field.

Yamaha music school might want to know whether it is worthwhile to introduce new courses to fulfill the current market. The second step Is to design the research methodology here question to what kind of sample will the marketers use’ Is answered. Observation approach under casual or descriptive research can be use to observe the student’s behavior and the circumstances surrounding it. Through observation, it enables the marketers to measure the actual behavior of the students as opposed to Intended or reported behavior.

Observation can be done when trial classes for new courses are being offered to the students. Students are observed based on how they react during classes and their attention paid during classes. If students laze around and sleep during classes, this shows that they are not interested. Besides, secondary data can also be used to help In the research process. Students that have registered for the new courses offered help to determine the number of students that are interested without even attending the trial class.

Depth interview which is a qualitative method to approach the targeted students for their opinion. Students are driven with question In this method where they elicit deep and detailed Information. Through this, the interviewer can explore responses with further questioning to ensure that as much information is gained from the process. Survey forms with questionnaires can also be handed out to the students to rate the classes that was conducted. The third step in market research process It to collect data. Data must be collected according to the methods specified In the research design.

The goal of this part of the research process is to ensure the research design is properly followed, 1 OFF process can be done in-house or outsourced, with a market research or advertising agency taking over the responsibility of the process. For Yamaha Music School, the data collection is done in-house where all the research design was conducted on the rent and potential student which will pursue or take up music lesson. To manage the data collection, limited time and financial resources, budgeting and scheduling need to be planned and managed to ensure the most benefit is derived from the investment in the market research.

In this research, there are not much cost spend on it because information are collected mostly from the existing student in the music school despite organizing a fair to give away flyers and brochures. Cost that are related are material cost and labor cost in this market research. Once data has been collected, it needs to be filtered and organized. It may be necessary to perform some quality control techniques to eliminate invalid data. There are two types of analysis can be done with the collected data which is quantitative and qualitative analysis.

Quantitative analysis refers to data that can be represented in numerically. Data must be analyze and understood to be used in decision making. Therefore, the interest of students to take up the new courses that has been offered by Yamaha Music School can be put into static analysis in Microsoft Excel. Data will be keyed in to show patterns and trends which put them into graphs and charts for a better understanding. Qualitative analysis refers to the process of research to gain more and detailed information for future decision making.

Qualitative data will usually be in the form of interview transcripts, video recordings, observation and respondents questions. Once the data has been analyzed and patterns or trends identified, conclusion must be drawn and recommendations made. The conclusions should state what the data has shown in terms of the original research question. Based on the above research problem, 50 per cent of the students are interested with the new rouses which is teaches a mixture of playing music instruments, public speaking and indirectly built up the students confidence. 0 per cent of the students are not really interested because it is not worth the money paid for music lessons where the main aim there is to learn up their favorite music instrument. Another 20 per cent of the students prefer to take up popular music courses such as piano, guitar and violin lessons. Once data is analyzed and conclusions drawn, the findings must be presented in a format that will enable the marketing decision makers to use the information. In practice this involves a written report to the decision makers.

Free Sample: Marketing paper example for writing essay

Marketing - Essay Example

Park there are approximately 4 known established/ operating Child Care Centers. This is including the region of Oak Park and surrounding suburb Gleeson (3046, VIC). Oak Park Children’s Centre – Pearl Street Child care Centre Kindling Child care – Goodliest Learning Gleeson The two highest competitors for Knowledge Plus Property Group would face in this particular area would be the local Oak Park Children’s Centre and Goodliest Learning Gleeson. Oak Park Children’s Centre would be a significant threat to any new establishing child care facility, due to the fact that it is a local business that has been in operation since 1997. There reputation of having a calm environment, making children feel comfortable in their surroundings, is something they strive for.

Children are encouraged to grow as they state. Goodliest Learning however, is a much higher competitor. Goodliest Learning is a nationwide known organization which is run by non-profit organizations, such as, Mission Australia, Social Ventures Australia and the Benevolent Society. Goodliest Learning would be a significant threat/competitor to any new establishing child care centre, these reasons being that it is nationally known, parents and families know what is expected as a whole with this organization and the learning standards.

If a family was to move states, New South Wales to Victoria for example, taking their child room a Goodliest Learning Centre and program to another foreign program might cause them difficulties with their learning habits, though being placed into a similar environment and learning structure the transition will be much easier due to the reputation Goodliest learning has squired. Goodliest learning would also remain a high competitor because of their reputation of being good and extensive.

Children are taught about the environment and how to sustain it, through making vegetable gardens; they experience music of different cultures as well as arts. Map of the Area Map of Child Care Centers in Oak Park and Gleeson (neighboring suburb). Summarized Analysis. The data given in this report to Knowledge Plus Property Group regarding the potential investments into Child Care funds will help determine the potential risk/no risk outcome of the decision.

The data shown shows clear comparisons of population records, as well as a sound competitive analysis, the visual maps and table show clear indication of the surrounding areas of schools. Graphs indicating a potential rise in population due to the significant age group at 25-29 years of 9. 1% of the local population, thus inducing a new generation is most likely. Recommendation.

The recommendation concluded from this data report would be that investing in a Child Care Centre would not be a financially viable risk to undertake in this particular area. The Justification of this would be due to the fact that the suburb of Oak Park and surrounding demographics. The population does not have a sufficient percentage of the targeted aged group to successfully accomplish as a new establishment. Having a local operation and a nationally known organization as competitors it would not be a profitable investment.