A discussion of the types of research needed in strategic market planning, and a case study of a bakery in Vancouver.
Written in 2008; 1,390 words; 1 sources; APA; $ 46.95
Paper Summary:
This paper discusses and defines secondary and primary research use in research in motion (RIM), and their importance in marketing research and planning strategies. The writer explains that secondary research is highly effective with time constraints, cost constraints, and the needs for unbiased measures of performance to benchmark the performance of one company against another. Primary research, which includes the need for validating branding, market positioning, and pricing and quality perceptions, is critical for minimizing the risk of launching a new store concept, such as the bakery in Vancouver which is the object of this paper's case study. The writer concludes that the use of demographic data is essential for finding potential locations for the proposed store since there are significant opportunities for ethnically-oriented businesses in Vancouver. This paper includes figures.
Outline
Secondary Research Use for Research in Motion Strategic Planning
Primary Research: Vancouver, BC Bakery and Party Shop Analysis
Specific Detail on the Vancouver, BC Bakery and Party Shop Analysis
From the Paper:
"In the development of a new business, it is critical to understand the customers' preferences, needs, wants, in addition to their perception of the proposed new business and its potential value to them as consumers. In short, primary research is critical for finding out just what is the most important to new prospects for a new business that defies any previous traditional categories. In the development of a business plan and the eventual launch of a bakery and party shop in Vancouver, British Columbia, the proposed bakery and store needs to create its own highly unique, highly differentiated position in the local marketplace."
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