market+research

Eg
To determine our target market, both primary and secondary research was conducted. Market research is important to become familiar with our clients and the products which they require to fulfil their needs (Xaviar 2008, P4).

The primary research consisted of a survey, interview and focus group. The development of a survey aimed at identifying our market, their needs and their preferences. This survey was presented to 60 consumers whilst shopping at two major shopping centres. One third of the survey participants were aged between 0-20, one third between 21-40, and one third greater than 40 years old. It was thought that the spreading of the survey group across the age brackets would ensure that the sample taken was indicative of the population. Each participant was approached by the surveyor and asked to complete the survey. The interview stage of the primary research consisted of discussions with business mentors Mr X Stollward from Hardly Normal and Mrs S Galway from Retro Vision, on 5 February. Questions asked of the participants of the interview and the survey are included in Appendix 4. The focus group was representative of the population, consisting of two 17 year old students, two 30-50 year old women, and two retired women. The group was interviewed to acquire more detailed and in-depth responses than the survey alone could produce. *** may include facebook/social media gathering of information here.

The secondary research conducted included internet searches of the Australian Bureau of Statistics (Appendix 2), research documents from Griffith University Business program (Appendix 6) and various references found in non-fiction books.