Burton Inc.

Business

www.ibbusinessandmanagement.com

THE AMAZING MARKET DAY CHALLENGE!

Activity C Market Research II

Activity C

In groups, divide up tasks and answer the questions that follow. What does the target market want? 1. Using Excel, enter the results of your market research questions (Activity B Market Research I). 2. Use Excel to display your main findings into graphs and tables. 3. Use Excel to process your data into totals, averages, etc. 4. Transfer graphs and numeric findings into a Word document, and prepare a summary report of your main findings.

How much money are people willing to spend?

12 10

8
6 4 2 0 $5 $10 $15 $20

What are people are more likely to buy?

20 18 16 14

12
10

8
6 4 2 0

Food/Drink

Product

Both

What kind of products are people are more likely to buy?

Fashion Product Beauty All

What kind of food/drinks are people more likely to buy?

Hot Cold Both

Are people going to bring their lunch to school?

30

25
20 15 10 5 0 Yes No

Summary: Our results show that people are more interested in foods than in they are in products. Most of the people surveyed said that they would bring lunch to school, and not spend too much money- only around $5, though there were some who said that they would spend up to $20. None of this is surprising as the target market is students, and the market is at lunch time- which is why most students would prefer hot food. 5. Make some general conclusions about how many people shop at Market Day, who these people are, how much money they spend there, how many different products they are likely to shop for, what kind of products they shop for, etc. etc.

We have concluded that most of the people who shop at market day will be students, as the majority of people at QM are pupils here, of course there are teachers who may shop there, but there are few compared to students, and they can leave the grounds. This is why we have surveyed students. From our data we have found that; Students want hot food and cold drinks, the majority of students bring their own lunch on market day and are either willing to spend $5-$10 or around $20. Because students are more inclined towards cheaper goods (of reasonable quality of a product they like) it would be smarter for us to create medium-small size portions of hot food at a cheaper price. 6. Upload this document to your blog (this should be your second entry). How can you meet your target markets wants? 7. Brainstorm THREE possible Marketing Mixes (not just products!) that could successfully meet the wants of your target market and out play your competitors in the game for the Market Day consumer dollar. Possible market mixes; Mexican stand (build your own taco, quesadilla, burrito as well as churros). Smallmedium portions for cheap prices. Located in sunny area, sheltered from wind, in clear view, attractive location, near entrances and exits. Advertising- Face clipping... Maddy likes Mexican, do you like Mexican? possible store name Sexy Mexi Smoothie stand (banana berry smoothie, raspberry). Lip balm- All natural.

8. Upload your groups Market Research Activities (C and D) and Marketing Mix brainstorms (photos or scans are fine) to your blog. Make a comment on each.