Reference no: EM133100354

Your organisation believes that it is necessary to expand into new market areas. You have been asked to conduct appropriate research to determine the feasibility of doing so.

Explain and report on the procedures that would be followed to research the market, identify potential customers and discover the potential customer's needs, wants, expectations and buying intentions. Consider both primary and secondary data sources plus environmental scanning.

Your report should be 2,000 words.

Consider these questions as you write your report:

1. How would you ensure reliability and accuracy of the data you collect?
2. How would you collect customer information and how would it be processed?
3. Give examples of the data that might be collected and the procedures you would use to analyse it.
4. Explain the link between customer needs, wants and expectations and product/ service design.
5. How would your research address this issue?
6. Having collected and analysed the data what would be the next step?
7. What records would you need to keep and how might they be valuable?
8. How would you go about developing your marketing plans and strategies, and who would be involved?
9. Having developed and implemented marketing strategies, how would these be monitored and what aspects of them would be measured?