1 / 5

Comprehensive Market Research Plan for Product Innovation

Develop a strategic market research plan using internal & external sources to analyze competitors, consumer attitudes, societal trends, and pricing comparisons. Include a detailed mind map for clarity.

van
Download Presentation

Comprehensive Market Research Plan for Product Innovation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What the specifications says:

  2. What the marks scheme says:

  3. For task 3 you have to explain how you are going to carry out your market research • Create a mind map to add to task 3. What will you research?

  4. What you need to do: • Internal sources of secondary research: • Annual reports • Look for information about sales, share price, company objectives, which departments are successful/ unsuccessful. • External sources • Who are your competitors? Look what is currently available and summarise their products. • News articles • Think about consumer attitudes within you market. • Factors affecting society like amount of free time, obesity, recession, consumer spending habits, environmental issues... • Mintel and other market research websites (see links). • Look up your industry or your competition. • Price comparisons of your product’s competitors. http://www.mintel.com/press-centre/press-releases/404/chocoholic-brits-raise-the-bar-in-europe http://www.marketresearch.com/

  5. The more research and the more sources you use the better!You have to reference what sites you use and where you found that information.

More Related