Market Research Essay

Submitted By learner091
Words: 1136
Pages: 5

To: Theresa Hughes, Marketing Director
From: Eric Bamford, Marketing Consultant
Date: 23.10.2012
Ref: EB/TKH/U3/P3
1.0 TERMS OF REFERENCE I have been asked to carry out research for Stratford Picture House cinema that is experiencing a fall in demand leading to financial difficulties which I not doing well. The results of my research will help showcase cinema develop marketing plans that will hopefully improve the cinemas performance and make it a successful business once again.
2.0 FINDINGS
The cinemas I have chosen is Stratford cinemas picture house. The cinema is located in Stratford east London e15 1bx salway road. Busses 69. 262, 241, 104 all take you to this location. The four-screen Stratford Picturehouse opened in August 1997, providing the local community with the latest big film releases, the best of British and international art-house and independent cinema, and a great choice of children's films . It offers a great service to viewing service for the local people that live in Stratford and gives them a chance to enjoy and watch the latest and biggest movies for a reasonable price.
3.0 Market Research
Marketing research informs picture House’s decisions by helping the picture house to understand the process of it market. This involves finding out more about is customers, competitors and the whole marketing environment. This can improve the cinemas marketing plans because it can help find the size of the cinemas market, identify customer needs, it can help the cinema plan better, it will make the cinema evaluate their strategies this will overall make the cinema a better because by the cinema researching and understand the process of it market it will know how to please their customers more.
4.0 primary research
Primary research is researched information the research can help in the development of Picture Houses marketing plus research that does not exist yet .It can come from a number of sources including potential customers the cinema can compile this information themselves or hire someone to do so via surveys focus groups and other methods. The cinema could do questioners about the business by asking appropriate question on how the business can improve or what customers would like. Doing this will be a good thing because Picture House will get an idea of what customers want. Also customer interviews are a good way know the process of it market because showcase cinema will get more of an idea of what the public want.

Secondary research is a market research that has been already organised and compiled for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry. Examples of secondary research internally are the company accounts, stock analysis, internal reports this will all help the showcase know its business better. External sources of secondary research include government statistics, trade publications, magazine surveys, euro stat all this research will benefit showcase cinemas for them knowing their business better.

Market research can be used to reduce risk because by Picture House doing questioners and doing research on the business it ensures that showcase are well prepared on what they have to do to improve the business . For e.g if showcase wanted to sell different types of popcorn without knowing how customers would react it you never know it could be bad for business that why handing out surveys is a much safer why of preventing any risk . Unless they measure they will not be able to properly know how well the cinemas is performing. Early research can identify flaws in your service or areas that need to be improved, by conducting regular market research it will identify if improvements are being made and, if positive, will in turn help motivate a development team. .

Qualitative Research is about finding the features of a market through in-depth research that…