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Identify the Most Appropriate form of Market Research in a Given Situation and Implement that Research - Essay Example

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Identify the most appropriate form of market research in a given situation and implement that research Contents Contents 2 Introduction to the Problem 4 Market Research 5 Market Research Objective 5 Market Research Process 5 Market Research Activities 6 Activity 1 6 Activity 2 7 Activity 3 7 Activity 4 7 Activity 5 8 Effects of Different Market Research Campaigns 8 Understanding the right form of Market Research for the Given Situation-500 18 Conclusions and Recommendations 20 References 21 Introduction to the Problem The market for Italy is found to be a growing market for beer products marketed by different branded companies…
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Identify the Most Appropriate form of Market Research in a Given Situation and Implement that Research
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Download file to see previous pages One of the main reasons that were understood in this connection is the happening of economic recession for which many social activities of the people countered a sharp decline. Further it was found that owing to the rise of the economic recession the main consumer segment that was increasingly affected constitutes the premium segment of consumers. Brand Heineken in this context reflects as have fallen in a trap in not being able to reduce the price of its products to help reach to a mass consumer base in the recessionary market. It is because a reduction in the price of the products may hamper or tarnish its brand image of being a premium product. On the other hand the inability to gain a larger market signified less of marketing and sales revenues which also restricted the brand’s ability to make any significant marketing and promotional investments leading to the problem getting intensified (Cannes Creative Lions, 2011). Having hinted on the problem the market research domain can now consider on deciding on the attributes of the target group of people over whom research would be conducted based on questionnaires and again the budget for conducting the market research activity would be decided upon (Hague and Morgan, 2004, p.21). Market Research Market Research Objective In regards to the above context the company desired to conduct a market research activity which would help in satisfying the subject of the queries created focusing on the stated problem. The main objectives of market research were found to be threefold. Firstly the market research was conducted by the company to help sustain the brand image and market position of the brand in the premium beer market of Italy. Secondly the market research also focused to help sustain the same price for its premium products in the recessionary market. Finally the market research activities were also conducted to help the brand gain a large amount of consumer loyalty than before in the premium beer segment of Italy. Henceforth the market research objectives for enhancement of brand loyalty of the beer brand is found to be subjected to a specific market territory and to a specific consumer group to analyse the change in sales volume and market share (Cooklin et al., 2006, p.48). Market Research Process For the above condition the market research activity that was designed operated based on a threefold step. In the first step the market research team focused on segmenting the entire market into relevant consumer groups consisting of the target consumers. Such division was conducted based on demographic profiles of the consumers such that firstly the consumers in the age group of 18-24 were chosen. However the group for its failure to project the premium set of consumers the target group was based on the consumer segment of age group of 20-30 years who would drink the premium beer. The second focus of the market research activity targeted at helping the old consumers gain their bygone youthful ...Download file to see next pagesRead More
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