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Marketing Intelligence: Second Chance Holidays - Essay Example

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Summary to essay on topic "Marketing Intelligence: Second Chance Holidays"
In order to go ahead with the new initiative, we need to take into account a number of factors 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;
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Download file "Marketing Intelligence: Second Chance Holidays" to see previous pages... 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.
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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;
Exploratory Research is ...
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.

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 ...Download file "Marketing Intelligence: Second Chance Holidays" to see next pagesRead More
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