Second Chance Holidays - Research Paper Example

Marketing Intelligence: Second Chance Holidays Scenerio Memo In order to go ahead with the new initiative, we need to take into account a number offactors crucial for the successful implementation of the initiative. This requires carrying out a research study and analyse the indicators. Research in general can be carried out in two ways; Qualitative Research: This type of research is subjective in nature and can take into account even those factors which are difficult to express with the help of mathematical models or in numerical terms. Factors like human preferences, attitudes, beliefs or perceptions can also be explored with the help of this type of research study. For example, to explore the holidaying marketing potential for the senior citizens, we need to know about their ideas or beliefs in planning their holiday schedules based on a number of factors, particularly when they might have already experienced many such holidays in the past. Such type of research often proves to be time taking and required in-depth study. Quantitative Research: This type of research requires making use of mathematical modelling and the data thus collected during the research can be analysed with the help of mathematical models. In order to have quantitative research the data must be quantifiable. For example, if we wish to prepare the database about the people having enjoyed 10 or more holidays during the last 15 years, or those having not had any holiday during the last 5 years or 10 years, then we make use of quantitative research. With the help of mathematical tools we can establish a relationship between two or more variables. Determinants of Exploratory Research: Exploring a particular topic or field in detail is done with the help of exploratory research. In this case, if we need to know about the holidaying habits of senior citizens, then we might come across a number of unique habits or preferences which the researcher might feel the need to know more about. Key determinants of exploratory research are; Viewpoints Issue/s Relevant concepts and theories Case studies Context Predicted outcome Resources at the command of the researcher Risks Exploratory Vs Descriptive Research Exploratory Research is used to explore the subject even in an unknown terrain. Often such a systematic investigation leads to the formation of a relationship amongst two or more variables. Such a research is often guided by a set of hypothesis. On the other hand, descriptive research is mostly used to identify or establish the reasons behind one particular type of behaviour and how they change over a period of time. The descriptive data that we come across through such study is used to further classify the data for future use and exploration. While the outcome of descriptive research involves exploring one particular type of field, exploratory research might involve exploring more than one particular type of behaviour. In fact there's a thin dividing line between the two and at times both are used interchangeably for exploring factors which influence and interact with a phenomenon. Sceneiro-2 Report: Detail of steps to be taken for carrying out the study The focus group for this study is the 50+ age group people. This is one segment which has been gaining attention of market research agencies, as the average life of a UK citizen increases, owing to various factors. It is said that the UK population is ageing at a very high rate. In 2003, the number of 50+ people is one in three. This figure is projected to increase to two-fifth by 20311. Therefore making adequate provisions for this segment is of prime importance. Beck (1996) had suggested a decade back that in OECD countries about 30 percent of the population would be aged 60+ by the year 2030, while at that time this figure was around 18 percent only. In fact a number of business organisations have already started taking into account, the needs of this segment as well. For example, Volkswagen has developed a Golf plus car having higher seats and more space than its standard models (The Economist, 2009). The report in 'Economist' contends that 'there is money in the grey market, but it takes thought'. Therefore the focus group of our study will be Grey Market in general. Details of the Focus Group The focus group approach calls for preparing the focus group well in advance, so that the researcher can plan out the method and means to approach the focus group members. The group is generally prepared with the help of a selected few sample research participants. Preparation of the sample size involves a brainstorming session with a few experts and the management. As various studies have pointed out, the Grey market comprises of a significant percentage of UK population. The National Statistics of UK government indicate that in 2002, the number of people aged 50+ was 19.8 million, which is 24 percent increase over four decades, i.e. this number of 16 million in 1961 and by 2031 the number of people over 50 is projected to increase by 31 percent to around 27 million (Moore, 2004). As the senior citizen segment is quite diverse one, the researcher will have to further divide the focus groups into different segments. The key details about the study could be planned out in consultation with the management, depending upon the time and resources at the disposal of the company. But in general for the study of this nature, we can plan out a sample size of approximately 50-100 respondents. These respondents can further be divided into different segments like; 50-60 Age Group 60+ Age Group Those having taken up another job after retirement from one job Those not working any more Those living with spouses or companion Those living with an extended family These details will help us in planning the holidays for the senior citizens of the respective groups in a better manner. The sample population can be selected randomly from different localities and having different professional background. The topic of the research is discussed amongst the focus group participants with the help of a moderator. It helps if the moderator is from amongst the focus group participants only, as he/she happens to know the basic needs of the focus group and can make them understand the nuances of the study, so that we get the desired response from the participants. The skills of moderator must make him/her acceptable to the company/ organisation as well as to the research participants. Basic skills of moderator are; Knowledge of the subject Knowledge about the topography of the region where the research is being carried out Some analysis skills, so that explorative questions can be put to the research participants in case of requirement. Decent interpersonal communication skills Ready to devote time for the cause Has the ability to make use of props to introduce the subject Subsequently, the moderator carries out the interview and a final report is prepared by the researcher based on the outcomes of the analysis and discussion. 3-Phase Discussion Guide Subject: Devising Strategies for successfully entering into the Grey Market Question Areas: Key questions which require a suitable answer through the research study are; The extent of willingness amongst UK senior citizens to take up holiday plans The holiday plan considered most suitable by the different categories of 'grey market' in terms of historic and cultural holidays, city breaks, long haul destinations, adventure holidays and cruises The preferences of senior citizens for such holidays in terms of destinations, cost, comfort, activities etc. Which method of marketing communication is considered most credible by the senior citizens This would help the company in devising a suitable marketing communication/ advertising policy to attract more number of customers. Probe Issues: Some of the important probe issues are; Existing companies providing such facilities to the senior citizens The popularity of such plans amongst the 'grey market' Types of additional facilities which will be required to be put in place to take care of additional or emergency needs of the senior citizens The futuristic projections made by marketing research agencies for the percentage of population coming in this category Types of incentives or facilities provided by the government for such ventures Legal aspects of such a venture Willing companies in different areas like transport, banking, resorts, travel agencies etc. for having a strategic tie-up in this venture Extent of cushion required to take of losses in the beginning period of the venture The first phase of implementation would require us to have a reconnaissance of the issues involved in extending holiday facilities to the particular 'grey market'. This would help us in preparing a broad outline for the research, as it will form the basis of further research in the field. The second phase will be the actual research activity. It will require lot of time, effort and resources to study and analyse the topics involved. This is the most crucial phase in planning holidays for the 'grey market' The third phase will be the evaluation of the alternatives that came up during the study, which will subsequently be implemented by the company. References: 1. Age Concern (n.d.). The Grey Market. Available online at http://www.ageconcern.org.uk/AgeConcern/the-grey-market.asp (Jan 17, 2010) 2. Beck, B. (1996). 'The luxury of longer life'. The Economist, 27 January, pp. 7-9. 3. Moore, Lisa (2006). 'FUTURE INNOVATIONS IN FOOD AND DRINKS TO 2006, Forward-focused NPD and consumer trends. Business Insights Ltd. MBA House. London 4. The Economist (2009). 'The Silver Dollar'- A special report on ageing populations. The Economist, June 25, 2009. 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