Professional market research plan for Bounce Fitness Essay

Research on competition †¢Comparing consumer attitudes to an organisation †¢Services and those of competitors †¢Identifying frequency of use of competitors products and services †¢Identifying key competitors and their strengths †¢Measuring awareness Research on consumers †¢Developing detailed consumer profiles †¢Identifying changes in attitudes and behaviour patterns †¢Identifying existing , potential or lapsed consumers Research on place †¢Identifying attitudes towards location †¢Identifying cooperative opportunities for distribution of information or services †¢Identifying demand for products or services at other locations Research on pricing †¢Identifying attitude towards pricing †¢Identifying cost †¢Testing alternative pricing strategies †¢Research on products and services †¢Evaluating competitors products †¢Evaluating consumer attitudes towards presentation and packaging †¢Identifying potential new products or services or ones which may be at the end of their life cycle †¢Measuring attitudes towards existing products or services Research on promotion †¢Measuring advertising and promotion effectiveness †¢Testing alternative massages †¢Testing and comparing different media options Project 2 Implement, monitor and evaluate the market research plan for Bounce Fitness. A.Develop a detailed ,realistic implementation program †¢Includes an implementation strategy for the identification , selection , contracting and monitoring of all external consultants †¢Defines and communicates clearly all priorities, responsibilities, timelines and budgets, along with all personnel involved †¢Outlines all resources required, where and how they would be obtained, along with associated costs and conditions. †¢Incorporate contingencies for at risk areas †¢Includes a monitoring process to ensure the project sticks to budget and stays on course †¢Determines how you will measure your stakeholder satisfaction at the end of the project †¢Includes an evaluation process for final review of your project. Part B Conduct an information session for contractors †¢Instruction to your researchers in regards to their role and your expectations †¢Documentation and submission procedures †¢Communication strategies Part C Evaluate the research process and findings †¢Evaluate the usefulness of the findings in terms of relevance to initial objectives †¢Evaluate the marketing research methods used †¢Suggest any adjustment required as a result of the evaluations †¢Provide a modified research and implementation plan that reflects the adjustments you would make B 1.Statement of market research needs 2.Include research objectives 3.Include project scope 4.Identify the specific data required, including how it will be gathered , quantified and processed 5.Include estimates of time lines and castings 6.Include all required forms and recording instruments for each research method chosen