Marketing research is the function which web links the consumer, customer, and public to the professional through information-information used to recognize and establish marketing opportunities and problems; generate, refine, and evaluate marketing action; monitor marketing performance; and improve understanding of marketing as process. Marketing research specific the info required to addresses these issues; design the method for collecting information; managers and the implements the data collection process; analyses the results; and communicates the finding and their implication(Carl makdaniel, Roger Gates 1998 P. 5)
Marketing research is an extremely special division of Marketing Management. We can identify marketing research as heart of marketing management. It is a groundwork and generally utilized by manufacturers, exporters, suppliers and service organisations.
The organisation faces plenty of marketing problems such as customers, markets races, and sales special offers. Marketing research can help handle these problems. Marketing research is rational method. It first gathers information about the market complications and then documents the info. They draw in deducting about these data; it gives advice for dealing with the marketing problems. In this manner marketing research really helps to solve the marketing problems easily, quickly, systematically and properly.
Marketing research get full information about the customers. They find out customers' needs and targets. Then company can produce well according to the customers' expectation and needs. Marketing research helps the company to make creation and marketing strategies that can helps the organisation to present new items into the market and it'll help to find out about new market. This research also collects full information about the challengers. In this era company used these information to fight with challengers and it also helps the marketing professionals to take resolutions.
Marketing research is very systematic, clinical, objective and organised. It offers a wide opportunity. It contains consumer research, product packaging research product research, prices research, and etc. Marketing research is a non-stop method. It has a few margins. However, an organization cannot continue and be successful without marketing research.
What is GENERAL MARKET TRENDS?
Market research is a way of looking into and answering questions about human being behavior (Colling McDonald, pills vangelder, 1998, p. 37) General market trends is gathering and keeps details and information about the clients, competition and the useful information regarding marketing programs.
Small companies such as material retailers, small food take away, cafes they use the marketplace to decide the possibility of new business, improve aspects their business Or to test curiosity about new product or service. Market research is create decision, customers' needs and wants and raise the business income.
The Need for Market Research
Market research is more important to business since it provide plenty of opportunities.
Increased Sales. We can increased the sales of business general market trends, important information that helps to recognise how we provides successful product or services to the marketplace, what exactly are the best charges for the products or services and what type of customers are interested to purchase the merchandise or services. Reserching all information from the marketplace will help us to increase the sales.
Better Customer Management. We can use marketing tools such as marketing campaign, meetings, questionnaires, dialogue, messaging to visit the customers to investigate the customers' current needs and future objectives. We can achieve higher customers from marketing research.
Business Growth. Market research is increase sales and customer management. With these our company achieve success business.
"The marketing concept involve three important corner stone's first one is customers' needs and needs as the building blocks of business goal, Develop an organizational method of gratifying these needs and wants, and meet up with the organisation targets by providing customers satisfaction". (Felix M. Lao JR. ph. D. , 1998. )
Needs and Desires, Value, Satisfaction and Maintenance, Quality and costs/benefits these are the core marketing concept that using in STP cafeteria.
Needs and wants-STP caf this caf is obviously using by scholar and staff. On this college at the break time plenty of pupil are coming to the caf from different countries. They need food and beverage and wants are the tasty of these countries but unfortunately he can't make all the meals tasty at one time along. Just what exactly he's doing he make rice and curries, pasta and sandwiches, rooster fries, chips and then for the beverage he has coke cans and coffee maker to make caffeine for the students and staff.
Value-student can`t spend too much money for the meals and other things. So desi
Strength - Having a canteen in the faculty, even in a rainy day students are often be able to buy their food.
Friendly & open service in a familiar environment
Easy understanding of customer needs, because they're regular.
Staff entertainment facilities
Weakness - compare to the quantity of student canteen relaxing area is small
Only one person functions in the canteen & time consuming
Not enough facilities available (normal water, microwave. . . . . . . )
Opportunities - large varieties of food (increase the menu)
Accept card payments
Introduce a loyalty card
Pre-order system (help students to control & benefit from the break of their certain time period
Vending & coffee machines
Threats - other restaurants around mini supermarkets
Political - Not relevant
Economic - target market is university student, therefore prices should be fair & bearable.
Social - Halal & vegetarian food available for international / foreign students/ special diet requirements
Technology - coffee & vending machines
Segment marketing is dividing the market into specific categories and serves that specific targeted market. (Veggie, halal, Indian, British meal, buffet style)
College canteen mainly severs students who aren't very financially secure. Students would be the segment market. To create profit while reaching the profit, target market should be offered according to their expectations. Students will require cheap food, that they can have after they come to the canteen without throwing away their break in the action time. they always have a much their food immediately and relax for sometime before their next lesson start. therefore food should be dished up quickly and queuing must be prevented.
English Supper -
Non veggie - chicken breast/ lamb/ pork/ meat roast
Pasta / rice
Veggie - vegetable lasagne/spegatti
Easy to control the business
Easy to improve the business
Better understanding of the market
Food oriented business
Product - food
Customers - scholar & personnel (regular)
Expectations - cheap, fast service