Sampling size plan

Market Research Marias Italian Bakery

Chris Holzer

Excelsior College

BUS 460: MARKET RESEARCH

Dr. Zobisch

8-8-21

Market Research Marias Italian Bakery

Market research is a tool for evaluating the viability of a new good or a service. It is also conducted in an already existing product for a better understanding of your customers. The data obtained from market research is important in evaluating existing marketing strategies; thus, marketing and selling a good or service become easier and more efficient. Marketing research plays a vital role in the improvement of communication in a business.

It makes it easier for a business to identify other business opportunities such as; partnership with other business ventures, profitable order upgrade creation, and identification of new locations. It lowers business risks by; testing new goods or designs before launching, finding reasons why buyers buy once and leave, and obtaining insights on areas with problems. Market research is important to determine the appropriate promotional materials to use and advertise the business's good or service. It is important to learn more about the business competitor through a market survey to outsell them (Zikmund et al.2014). Lastly, market research enables a business to set better goals, and decision making becomes easier.

The assignment tends to explain a sample plan for Maria's Italian Bakery.

The general objectives of the market research are;

I. Target new customers

II. Identify the appropriate methods of promotion

III. Increase sales

IV. Increase profit

V. Improve communication

VI. Identify new opportunities

VII. Identify the most appropriate mode of delivery

VIII. Understand customers behavior

IX. Retain the existing customers.

X. Improve the quality

The specific objectives are;

To determine the effect of geographical location on purchases by Indians, Pakistanis, and Hispanics.

To determine the relationship between different modes of goods delivery and sales to different geographical locations.

To determine the effect of advertisements on Maria's Italian Bakery performance.

To determine the effect of price change on Marias Italian Bakery sales.

The sample is limited to the three ethnic groups; Indians, Pakistanis, Hispanics.

The most preferred method of obtaining a sample is cluster sampling for the Hispanic population and simple random sampling for Indians and Pakistanis because it is reliable, cheap, and less time-consuming.

The recommended data is both qualitative and quantitative data are required therefore, the recommended method of data collection is the use of surveys and interviews for primary data and the use of sales documents and records to obtain secondary data.

Interviews will be conducted face to face and through telephone calls.

The survey questionnaire to be used is;

Marias Italian Bakery survey questionnaire

(Answer all questions)

Date………………..

Name………………………………………..

Age…………….. Gender……………………………..

Ethnicity………………………………

Geographical location……………………….

How did you come to know Marias Italian Bakery ……………………………..................................................................

Which product do you purchase mostly …………………….how many times a week………………………………………..

Have you ever come across the Marias Italian Bakery Advertisements…………….

Do you request food or other Marias Italian Bakery’s product online……………….how long did the product takes to reach to you……………………….what mode of transport used…………………………………….

Have you ever bought any expired product………………. if yes, which product was it…………………………………

Do you purchase our products whenever we have promotions…………………….

Have you ever bought an expired product from Marias Italian Bakery……………………………….

Rate our services (ranges from 1 to 5)……………..

The sales and documents records are used to obtain daily sales data, product prices, and profits for the last year. The variables required in the market research are; geographical location, price, advertisements, mode of transport, and sales.

Reference

Zikmund, W. G., D'Alessandro, S., Winzar, H., Lowe, B., & Babin, B. (2014). Marketing research. Sydney: Cengage Learning.