Primary Data Collection Methods - Essay Example

Marketing practice assignment [Presentation material] Objectives if the research Market share enhancement to 3% in the first year 15% return on investment in the third year Penetrate to Germany and France market in 2008] Research questions How to reach the potential customers? How to sustain the product in the competition and threat? How to expand to new market? Evidence needed to answer the research questions Choosing target markets Proper brand positioning Gaining reputation in the domestic market Methods used to gather the evidence Questionnaire method Census data Merits Questionnaire finds the personal opinion Census data are reliable Demerits Questionnaire is time consuming Census data are not easily available Methods used to analyze the evidence Simple percentage Histograms Merits Simple percentage is easier to calculate Histograms can be easily analyzed Demerits Simple percentage does not reveal the relationship of data. Histogram does not express complicated data Interim report Title of the report The title of the report is ‘Marketing practice assignment’. The report is intended to study the market feasibility and acceptability of the newly launched tooth paste of Oral Care. The name of the product is ‘Smokers choice’ as this product is aimed at reducing the smoking habits of the people. Background information The company launched a tooth paste named smokers choice. The usage of the toothpaste will reduce the smoking habits among the smokers. The mouth, after brushing with the toothpaste when it comes in contact with the smoke produces a bad taste that prevents the smokers from smoking further. Studies have shown the increased rate of smokers among the population especially among the youth. “Smoking kills around 114,000 people in the UK each year.” (Petrie 2007). It is where the relevance of the product and the topic under study lies. The topic is chosen in order to analyze the prospects of the company by launching the product. Nature of the report The final report is in the form of a report addressed to the top level executives of the company. The report is intended to conduct a study in detail about the marketability of ‘smokers’ choice’. The product aims to carve a niche of the health product market through the launch of smoker’s choice. Therefore, the report studies in detail the average smokers in the population, the market position of the toothpaste, the customer acceptability, etc. It is a report that uses standard statistical tools for the data analysis and interpretations. Statement of aim The primary aim of this report is a market study. The report is intended to study the market and to make required changes in the strategies if needed. This is a company project and the organization is going to benefit by knowing its market and market position. Statement of objectives The objectives of the report are as follows: Enhance the market share of the product that is ‘smokers choice’ by 3% for the first year. Earn a Return on Investment upto 15% by the end of third year Penetrate to Germany at the beginning of 2008 and to France by the end of 2008 Literature review The tooth paste ‘smoker’s choice’ is launched by the company named Oral Care Plc. “The oral care market is worth $7.5 billion at retail and headed for $8.9 billion by 2012.” (Oral care products on the U.S. 2007). The tooth paste is the main product of the company at present. The product is aimed at conquering dual markets, the health care and the personal care sector. The tooth paste is very effective in whitening the teeth. But the main feature of the product is that it helps to stop the smoking habits of the people. The mouth after being brushed with smokers’ choice brings a bad taste when it comes in contact with smoke thus helping the people to stop the smoking habit. The toothpaste will keep this effect in the mouth for 18 hours. The market of the company as a tooth paste is highly competitive as there are many domestic and international players in the sector. Some of these companies even enjoy a majority of the market share. Even though the product belongs to the tooth paste group it is different from the common tooth paste as this has a dual purpose. Therefore, proper product positioning is very essential for better marketability of Smokers Choice. It should not be placed entirely among the medicated products segment as this is a product that is also meant for tooth whitening. So the product should be placed in such a position that it is accepted both as a tooth whitener and also as a medicated product for smoking cessation. Oral care already possesses a good market share in the toothpaste segment. “the success of whitening toothpastes has brought renewed growth to oral cares largest category and stimulated innovation in other categories and segments. Consumers, for their part—and particularly health-conscious aging Baby Boomers and concerned parents—have proved receptive to innovation and willing to spend more on oral care.” (The US Oral Care market. 2001). Though this is the market situation is US the brand identity has been spread world wide. Therefore product positioning is the strategy to be focused on by the company than the brand promotion. Product positioning refers to the following aspects: Location of a product or service alongside key competitors in the mind of consumers. The way customers perceive a product relative to competing products. Refers to the place the product occupies in the customer’s perceptual map of the market. (Product positioning). Research methodology The research is conducted mostly on the general public. The data used for the research is primary in nature. Primary data are that information that is gathered for the first time from any sources. The primary data that is gathered here is the opinion of the public. This is mainly done by using a questionnaire. Other methods used were personal interview with the persons. “In primary data collection, you collect the data yourself using methods such as interviews and questionnaires.” (Primary data collection methods). Data analysis and interpretation The data collected should be analyzed well in order to extract necessary information from them. Simple percentage is the best method to make an analysis of the numerical figures obtained. Diagrams such as histograms are used in order to distribute the figures obtained. Chapter sections Chapter 1: Background of the new product ‘Smokers Choice’ Chapter 2: Nature of the submitted report Chapter 3: Overview of research Aims and objectives Chapter 5: Literature review Chapter 6: Research methodology Chapter 7: Data analysis and interpretations Time schedule Task Resources Completion date Data collection Primary data October Literature review E resources November Data analysis Primary data and E resources November Summary 1. Working title 2. Background information 3. Nature of the report 4. Statement of aims 5. Statement of objectives 6. Literature review 7. Research methodology 8. Data analysis and interpretations 9. Chapter sections 10. Time schedule Bibliography Oral care products on the U.S. (2007).Start your market research here. [online]. Mind branch. Last accessed 5 November 2007 at: http://www.mindbranch.com/Oral-Care-Products-R567-579/ PETRIE, Gavin (2007). Smoking - health risks. [online]. NetDoctor.co.uk. Last accessed 5 November 2007 at: http://www.netdoctor.co.uk/health_advice/facts/smokehealth.htm Primary data collection methods. [online]. Last accessed 5 November 2007 at: http://brent.tvu.ac.uk/dissguide/hm1u3/hm1u3text3.htm. Product positioning. Marketing. Position in the market. [online]. tutor2u. Last accessed 19 November 2007 at: http://www.tutor2u.net/business/presentations/marketing/productpositioning/default.html The US Oral Care market. (2001). Description. Market research report. [online]. Mind Branch. Last accessed 19 November 2007 at: http://www.mindbranch.com/listing/product/R567-372.html Read More