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COEUR - BCM Business Creativity Module Market Research and Resource Assessment Carolyn McNicholas [email protected] DEFINITION OF MARKET RESEARCH.

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COEUR - BCMBusiness Creativity ModuleMarket Research and Resource AssessmentCarolyn [email protected]


Definition of market research
DEFINITION OF MARKET RESEARCH

  • “The systematic gathering, recording and analysing of data about problems relating to the marketing of goods and services.” American Marketing Association.

  • “Market research is the means used by those who provide goods and services to keep themselves in touch with the needs and wants of those who buy and use those goods and services.” Market Research Society


Definitions of primary and secondary data
DEFINITIONS OF PRIMARY AND SECONDARY DATA

  • Simple definitions:

  • Primary data = data collected for the first time

  • Secondary data = existing data


Secondary data
SECONDARY DATA

  • Size of market (volume, value)

  • Trends and projected growth

  • Main PESTE (political, economic, social/cultural, technological, ecological) factors impacting on marketplace

  • Customer analysis & buying behaviour (location, earnings, preferences, spending patterns)

  • Competitor analysis (number, ease of entry, substitutes, product and service offerings, brand image, supplier relationships, etc)


Secondary data1
SECONDARY DATA

  • Suppliers

  • Product research (design, modifications, brand positioning, etc)

  • Pricing

  • Promotion

  • Distribution

  • Legal – employment law, health & safety, VAT, PAYE, contract law, environmental law

  • Other - financial, property, operational, start-up costs – will depend entirely on the idea


Limitations of secondary data
LIMITATIONS OF SECONDARY DATA

  • Collected for some other purpose

  • No control over the data collection

  • May not be very accurate

  • May not be reported in the required form

  • May be outdated

  • May not meet data requirements

  • A number of assumptions have to be made


External secondary sources

Business Gateway

Commercial databases

Consumer surveys and reports

The library

Trade associations, journals and directories

Trade shows and conventions

The media

The www.

Business Directories

Yellow Pages

www.yell.com

Thomson Local (www.thomsonlocal.com)

Kellys Business Directories

(www.kellys.co.uk)

National and local government statistics

Government publications

EXTERNAL SECONDARY SOURCES:


Business gateway
BUSINESS GATEWAY

  • Business information

  • Business start-up

  • Business growth

  • Increasingly delivered by web-based solutions

  • www.bgateway.com


Rgu library external data
RGU LIBRARY - EXTERNAL DATA

  • Business databases

    • journal/magazine articles (Business Source Premier, Emerald, Science Direct, Sage, Taylor & Francis, Google scholar)

    • newspaper articles (International Newsstand)

    • Information on markets (Mintel, Key Note, Passport (Euromonitor), COBRA, Business Source Premier including Datamonitor)

    • company information (Business Source Premier) and company financial information (FAME)


Cobra
COBRA

  • COBRA Business Opportunity Profiles

    • An Introduction to Researching a Market for Business Start-ups (No 185 – June 2008)

    • A Guide to Sources of Market and Business Information (No 47 - January 2009)

    • A Guide to Using A Market Research Questionnaire (No 1 - 2008)

  • Note: Only 1 user at a time


Finding information on a country
FINDING INFORMATION ON A COUNTRY

  • Michigan State University global information

  • http://globaledge.msu.edu/resourcedesk/

  • The World CIA Factbook

  • https://www.cia.gov/library/publications/the-world-factbook/index.html

  • The United Nations Cyberschoolbus

  • http://cyberschoolbus.un.org/infonation3/menu/advanced.asp

  • The World Bank

  • http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/0,,pagePK:180619~theSitePK:136917,00.html

  • The European Commissions Market Access database

  • http://mkaccdb.eu.int/mkaccdb2/indexPubli.htm


Finding information on a country1
FINDING INFORMATION ON A COUNTRY

  • The OECD website

  • http://www.oecd.org/countrieslist/0,3351,en_33873108_33844430_1_1_1_1_1,00.html

  • A list of national statistics offices websites produced by the UN

  • http://unstats.un.org/unsd/methods/inter-natlinks/sd_natstat.asp

  • Business Insight Interactive

  • http://www.bi-interactive.com/index.aspx?StoryID=0&ReportID=1076&Lang=en&MainPage=home

  • Eurostats facts through figures

  • http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home


Statistics web sites
STATISTICS WEB SITES

  • Office of National Statistics has census data, population demographics, income levels, social and regional trends. Many of the sites are regional – i.e. England and Wales. Scottish equivalent is SCROL

    • www.statistics.gov.uk

    • www.scrol.gov.uk

    • www.nomisweb.co.uk

  • Scottish Executive and Scottish Enterprise

    • http://www.scottish-enterprise.com/


Local information
LOCAL INFORMATION

  • Aberdeen / Aberdeenshire City Council

    • population trends (age, sex, unemployment)

    • small area population forecasts (dwellings and populations by ward)

    • http://www.aberdeenshire.gov.uk

    • http://www.aberdeencity.gov.uk/ACCI/web/site/home/home.asp


General sources
GENERAL SOURCES

  • Department of Business Enterprise and Regulatory Reform (www.berr.gov.uk)

  • Chambers of Commerce

  • Corporate Information (web sites, annual returns, etc)

  • Business.com http://www.business.com/

  • About.com http://www.about.com/

  • Strathclyde University Internet resource - BUBL

  • http://bubl.ac.uk/index.html

  • Subject specific –

    • e.g., www.visitbritain.com

    • http://www.tourismtrade.org.uk/MarketIntelligenceResearch/default.asp


Business news
Business news

  • Updating services on topics of your choice

    • www.newsnow.co.uk

    • www.ananova.com

    • www.newsindex.com

      Looking for Property?

  • www.scottishproperty.co.uk

  • http://www.aspc.co.uk/


Case study
CASE STUDY

Opening a coffee shop

in Aberdeen


A good starting point
A good starting point

  • COBRA Business Opportunity Profiles

    • Coffee Shop

    • Cafe Bar/Designer Bar

    • Fast Food Outlet

    • Delicatessen

    • Internet cafe

    • Smoothie and Juice Bar


Size of aberdeen market demographic profile
Size of Aberdeen market & Demographic profile

Aberdeen City Council website

  • Population trends for Aberdeen & Aberdeenshire

  • Age and gender structure of the population and trends

  • Population of neighbourhoods by age

  • # households/ dwellings

  • Census – family life cycle stage, country of origin, ethnic group, religion, number of employees and students, gender and employment, occupation groups, socio economic classifications


Market research reports
Market research reports

http://www2.rgu.ac.uk/library/resource/alph.htm

  • Keynote -

    • Coffee and Sandwich Shops 2012

    • Hot Beverages 2009

  • Mintel

    • Coffee Shops UK 2011

    • Coffee UK 2010 (Home consumption)

    • Coffee Shops UK – Feb 2005, 2007, 2009



More women than men use coffee shops keynote 2009
More women than men use coffee shops (Keynote 2009)



Keynote 2009 demographic analysis
Keynote 2009 demographic analysis

  • Starbucks is most popular among the 35-44 age bracket, while Costa’s popularity peaks among 25-44-year-olds, reflecting the fact that both these age groups are keen coffee purchasers and enjoy it both as a drink and a means to catch up with friends. Starbucks also attracts a particularly strong following among the 15-19 age band.

  • Key analysis: The particularly youthful appeal of Starbucks suggests that the company could try to engage more with younger consumers at certain times of the day in terms of running special price-deal promotions aimed at this age group. Other ideas which could help Starbuck appeal to this group also includes offering added-value features such as making sure fashionable music magazines are available to read in store, or provide facilities to charge iPods or even download music.





Mintel coffee shops uk feb 2007
Mintel Coffee Shops- UK Feb 2007

  • Antipathy to coffee from younger drinkers

  • Growing competition

  • Dilemma over food to offer

  • Coffee abstainers (never drink coffee) rose from 13% to 20% from 2004-2006


Coffee shop market source mintel coffee shops uk 2007
Coffee Shop Market (Source – Mintel – Coffee Shops – UK - 2007


Peste analysis
PESTE Analysis

  • http://www.coffeeresearch.org/

  • Oxfam report http://www.maketradefair.com/assets/english/CoffeeMarket.pdf]

  • Google Answers – demographic profile http://answers.google.com/answers/threadview/id/734400.html

  • INeedCoffee.com http://www.ineedcoffee.com/07/coffeebusiness/

  • SWOT Analysis of Starbucks http://www.marketingteacher.com/swot/starbucks-swot.html

  • Coffee consumption trends:The Roast and Pot Coffee Company http://www.realcoffee.co.uk/Article.asp?Cat=trivia&Page=1


Trade associations
Trade Associations

  • British Coffee Associationhttp://www.britishcoffeeassociation.org/

  • Speciality Coffee Assoc of Europehttp://scae.com/

  • International Coffee Associationhttp://www.ico.org/

  • Coffee Francise http://www.franchisedirect.co.uk/coffeefranchises/179


Business Insights http://www.bi-interactive.com/index.aspx?StoryID=0&ReportID=1076&Lang=en&MainPage=home



Media : International Newsstand DatabaseGoogle: Scotsmanhttp://business.scotsman.com/fooddrinkagriculture/UK-coffee-shops-full-of.4118166.jp




Caterersearch.com press articlehttp://www.caterersearch.com/Articles/2007/05/24/313851/UK-coffee-market-set-to-double-over-the-next-10-years.htm


Foodbev com http www foodbev com report uk coffee bar market still growing despite recessi
FoodBev.comhttp://www.foodbev.com/report/uk-coffee-bar-market-still-growing-despite-recessi


Competitive product offer and pricing
Competitive Product offer and pricing

  • Trade associations

  • Competitive websites

  • Find local competition

    • Google Coffee Shops Aberdeen

    • BizWiki competitorshttp://www.bizwiki.co.uk/cafes/aberdeenshire/aberdeen.htm

    • UpmyStreet Competitorshttp://www.upmystreet.com/findmynearest/food-and-dining/coffee-shops-listings-in-aberdeen.html






Keynote coffee shops 2009
Keynote Coffee shops 2009

  • Costa is market leader in terms of number of outlets, Starbucks in terms of turnover

  • Wider range of food and drink offerings

    • Muffins, scones, cakes, cookies, patisserie, brownies, etc

    • Sandwiches, rolls, paninis, bagels, croissants

    • Yoghurts, desserts, fruit

    • Juices, smoothies, milkshakes

    • Trend to healthier food and Fair trade coffees

  • Growing competition from department stores, M&S, grocery multiples


Case study on coffee shop
Case study on coffee shop

  • http://brandandmarket.blogspot.com/2007/06/perk-up-coffee-shop-marketing.htm

  • http://www.benjaminwarsinske.com/2010/06/case-study-coffee-shop-in-seattle/

  • http://www.baristaexchange.com/forum/topics/planning-on-opening-a-shop


Location of shop
Location of shop

  • Size of market/ Population

  • Competition

  • Available venue

  • Fit with positioning


References
REFERENCES

  • CHISNALL, P., 2005 Marketing Research. 7th ed. Maidenhead: McGraw Hill.

  • WILSON, A., 2006 Marketing Research: An Integrated Approach 2nded. Harlow:Prentice Hall.

  • KENT, R., 2007 Marketing Research: Approaches, methods and Applications. London: Thomson

  • MCGIVERN, Y.,2006 & 2009 The Practice of Market Research. Harlow:Prentice Hall.Chapter

  • SHIU, E., HAIR, J., BUSH, R. & ORTINAU, D. 2009 Marketing Research. Maidenhead: McGraw Hill

  • KOLB, BONITA. 2008. Marketing Research: A Practical Approach. London: Sage

  • A Newcomers’ Guide to Market and Social Research

    http://www.marketresearch.org.uk/mrindustry/downloads/newcomers.pdf

  • Davis, R.E. 1993 Experience: The role of market research in the development of new consumer products. Journal of product innovation management. V 10 pp309-317

  • Von Stamm, B. 2008. Managing Innovation, Design and Creativity. 2nd Edition, Wiley

  • Burns, P 2007 Entrepreneurship and Small Firms 2nd ed. Palgrave Macmillan


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