Q In assignment most prominent issue has been discussed about relates to identification of marketing research essentials Home, - MARKETING RESEARCH ESSENTIALS 1. Introduction Business issues The most prominent issue that has been discussed about relates to the identification of the most preferred brand as per the consumers. It has also been identified that price is also a major entity that is considered while in the process of buying mobile phones. It has been observed that it varies often as per the change in location and due to many such other factors. Objectives • To identify the different factors influencing consumer brand preferences • To analyse the advantages and disadvantages of market research • To identify the different demographic factors influencing buying of mobile phones • To recommend effective strategies in order to attain loyal customers Recommendation An effective market research can be conducted in order to understand the needs of the consumers. Based on this, the manufacturing of the mobile phones can be initiated. OUTCOME The main outcome of the research project is to effectively conduct the primary quantitative research in an effective manner. The research will be able to identify the various demographic factors which influence the purchasing behaviour of the customers while in the process of buying mobile phones. The research will also prove to be effective to the mobile phone manufactures because it will provide all the details regarding the wants of the consumers. It will be able to determine that how the consumers are influenced by the pricing factors that make them to choose a certain brand. The test will focus on the actual business problem of choosing a particular brand by the consumers. 4. Test market study Selection of Test market The test market will focus on the consumers residing in Sydney, Australia. A total of 100 consumers will be focus upon. The participants will be selected through the means of simple random probability sampling method. The participants will be chosen based on some set criteria. An online survey will be conducted through the means of SurveyMonkey. Determination of length and time The complete test will be conducted in a time span of 14 weeks. This time span includes the process from the selection of the topic to the submission of the final project. The data collected needs effective time in order to be analysed. The complete data collected will be analysed with the help of quantitative analysis by transforming it into tables, graphs and charts. Factors to be considered Place Place is considered to be a very important factor, while considering the promotion (Moreno-Munoz et al. 2016). It impacts the purchasing decisions of the mobile phones as well. A place with high income generating people will lead to better purchasing of luxury mobile phone brands Product Selection of a product highly depends upon its brand name and image that is present in the minds of the people. As influenced by the idea of Wang (2015), it can be said that it effectively influence the purchasing decisions of the consumer’s choosing the mobile phone brands. Promotion As influenced by the idea of Danaher et al. (2015), it can be said that these days, promotion through the online modes is considered to be very advantageous in comparison to the traditional approaches. The consumers planning to buy the mobile phones do consider the advertisements made and the customer reviews that are there on the social media platforms Price Price is termed to be the most important factor while in the process of purchasing mobile phones. In the viewpoint of Grewal et al. (2016), it can be said that price decides whether a particular brand can be purchased by the consumer or not. If the consumer does not belong to the specific income category, he or she will not be bale to buy the luxury brands such as Apple.
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