Market Research Analysis - Assignment Example

In this section I will be talking about the market research that we carried out as a company around college. This includes the promotional materials, our pilot questionnaire and our final questionnaire. We initially started by designing a pilot questionnaire based on our promotional materials questionnaire. We chose a questionnaire for our primary research for numerous reasons. One of these, is that we will get written feedback for future reference. Another reason, is we were after both quantitative and qualitative answers and preferred the written option.

We will write a custom essay sample on Any topic specifically for you For Only $13.90/page

order now

Our pilot questionnaire was our primary research and contained both qualitative and quantitative data showing us what could be improved upon for the master questionnaire. We asked 3 totally random strangers to fill them in, and our research was indicative of there being a lack of thorough information, space for answers. The pilot also lacked in design quality, it was poorly laid out. 3 out of 3 of the candidates agreed that it was not at all easy to understand either. So we consider the pilot to be a failure.

I believe it to be a failure in that our potential consumer failed to understand the questionnaire, did not receive clarification on the subject of the questionnaire, and it also lacked our business name and logo. We looked at our answers from the pilot, and then I went and designed a whole new questionnaire including important questions that were missing in the pilot which included an introduction, our business logo and the Young Enterprise logo. I also laid it out more professionally than the pilot.

Feedback was generally rather good, and I shall now go into my results. The first question I asked was: “Were the posters well laid out? 60% of people we asked said that yes our promotional poster was laid out well. 40% disagreed and said that it wasn’t. We chose this question because we felt it was relevant to the design of our poster, and would determine if we had fouled up. The second question we went into detail asking if the text sections were easy enough to understand. 80% of the people we surveyed said that it was, and only a mere 20% said no. I was happy with this result as it showed we were able to relay our details and trade information accurately in a way that would be easy for a consumer to understand.

This question was asked purely because we want to make sure we didn’t bore our potential customers and confuse them with the details. Our third question was asking if the relevant information was displayed, which included pricings. Upon analyzing our questionnaires, we can see that the crowd was split. 50% said yes, and 50% said no. This is indicative of a poor layout of some of the text section and requires reworking. This was asked for similar reasons to the first question, as well as to see if it was organized in the correct manner.

The fourth question asked how participants found the overall appearance of the poster. The qualitative feedback we got was that the poster needed to be clearer and also required more information Our fifth question asked whether or not the promotional material was eye catching. Only 4 out of the 10 participants answered yes. This was disappointing, however it shows that our poster still requires more work doing to it. This was asked, as we felt we needed to keep potential customers interested in providing necessary feedback in order to make improvements.

Our sixth and final question was asking if you wanted to make any further comments. Out of all of the comments we received, the main complaint was that it lacked a full or more detailed price listing. The other comment was that there was too much colour. I find this unusual as the poster cannot be too colourful, yet not catch your eye. We felt it vital to ask if there was anything else it lacked or succeeded on as it would give us a greater insight into what was missing. Overall this questionnaire was a vast improvement upon the pilot, and was far more successful and easier to understand.

If we produced all of our documents in a similar way to our pilot, results would be detrimental to the business. One of the things I tried to keep in mind when producing the final questionnaire was to leave plenty of room for answers, yet also use a softer font and fit enough text in for our questions. I conclude that although our second questionnaire was much more professionally laid out, it could still use a 3rd revision. I believe it lacked in number of questions, and needs an equal number of say 10 qualitative and 10 quantitative answers.

The only mistake I made in the questionnaire, was in the footer by labelling it “Go-Glow Pilot Questionnaire” where it was meant to read “Go-Glow Promotional Materials Questionnaire rev2” I believe that we should also go into more implicit detail with our questions, so instead of asking for example “Were the writing parts easy enough to understand” we could ask “Did you find the sections with text easy to understand, if not please explain” Which would be both qualitative and quantitative in one question providing us with a better supply of information on which to base our future improvements.

The overall result based on looks layout and specific details such as prices, is pleasing and I view it as a successful poster and with tweaking it will be even better. The things we could improve upon, is the colour scheme, change of font to Segoe UI instead of the default Calibri, and we could also lay it out differently, and have one focal point that potential customers would instantly look at.

If we could draw their eyes to here, we could lay it out in such a manner, as by having pricing or other important information right next to it and would pull customers in. In our final promotion I believe that we really need to pull our fingers out and put maximum effort into refining and advertising to our target market using the available software we have.