Research Project, Focus, Type Essay Example | Topics and Well Written Essays - 500 words

Research Project, Focus, Type - Essay ExampleAn enterpriser could not commence a new venture or expand an existing business without faithful and updated information. Nonetheless, the pertinent information about the chosen country, economy, political conditions, laws and regulations, environment, technology, demographics, psychographics, behavioral, cultural and social factors, competitors and market potential is obtained with secondary and master(a) research. For instance, this marketing research and data collection should be considered as a usable sick, because it becomes essential for survival, growth and sustainability of a business entity. The marketers than analyse this information and use for innovation, branding and differentiation. The information garnered entrust be analyzed and evaluated to develop certain alternatives and policies that could benefit the restaurant as a whole. For instance, the research project will help identifying new business opportunities followe d by gaps in market. This would later benefit in elaboration and betterment. In addition, the research will study societal changes, purchasing power and consumption trends after which we could break our existing marketing and advertising campaigns, internal display and food products. The research will include primary (through surveys, focus groups and interviews) and secondary (available online published articles, journals, reviews, reports etc.) information. In addition, it would be comprehensive and descriptive in nature because the investigator will cover all major marketing related issues and points. The economic recession has resulted in immense unemployment and decline in consumer purchasing power (real incomes) therefore, customers demand high quality food products at slightly lower prices. In other words, price factor will now play the most classic role in success and prosperity of the restaurant in tough economic conditions. The literature would be gathered initially t hrough secondary research because it is easily available and cheaper than primary (first hand) information. Websites, online databases, digital communities (Face Book, twitter, my lay etc) and web logs may provide sufficient literature that could be used as a jump point. Any weaknesses and irrelevance will then be removed through collection of primary data.