The limitation of marketing research used to contribute to the development of selected organisations marketing plans. Subway In this assignment, I will be looking at the limitation of marketing research. This will involves looking out how marketing research can help develop a marketing plan. Furthermore, I will be looking at the weaknesses of development in marketing plan. One reason can be that Subways research including questionnaire might be asked badly towards customers which would and can be misunderstand by customers. This might cause customers to give a different answer than Subway will expect to get from heir customers.
Customers might give an answer that Subway might want but may be not as specific as Subway would like it to be. Subway can also misunderstand their customer’s answers and/or suggestions to the question in the questionnaires that have been made to get their customers opinions to their business. Another reason can be is that customers will have different opinions on different products that Subway sells or service, this means that Subway cannot be certain on the products/ sandwiches they are selling or would want to sell if there is not a majority on a product and service they provide and they sell.
Subway having/employing mystery customers to check on the services Subway is providing might not be accurate all the time because you might not be able to find all the problem within their service Subway provide. Sometime customers might have a problem that a mystery customer cannot find within Subway business or premises. A different reason will be that the continuous change in the market. This would have an effect on Subway business, because they would not be able to sell any of their products sandwiches/ service on a long term basis as customers likes and dislikes would change along with arket.
Subway have to think about what products sandwiches/ or service they want to sell as the trends will be changing constantly through the year in business. Finally Subway doing market research can help the business in a marketing plan, because it will give them precise and exact information on what is needed to create something successful. An example of this might take place in when Subway is introducing a new sandwich. They might be doing this because the old sandwiches are in decline and they are not selling anymore.
Before Subway release their new products on their enus, they may need to be sure that the new products/sandwich will sell, so they do research as surveys, questionnaires, focus groups etc. within the information they have gather from the research, they then can bring out a products/sandwich that they are sure many of their customers would buy it. Also Subway will have to make sure that all of their products that they are releasing to the public are healthy and they are on low calories, as they may have claimed it to be.
Because if customers find out that they have been let down by Subway, customer may no longer buy Subway roducts, because of the lack of reassurance and reliability to customers. Customer’s expectation will be nigh whenever they buy products/service in any ot Subway restaurant. Subway, it will be an obligation for them to find out what their customers want internal and external in the restaurant, a questionnaire might help Subway to find out what their customers want and how much they will be willing to pay for their products.
Subway might hire a mystery shopper to find out prices of their competitors, and how the present service to customers, by doing this might help Subway decide the price of their products, if they should put it up or down. Subway creating questionnaire will help the business, as they are trying to analyse/ get customers opinion over the business. Subway doing this means that business will know exact where and why customers are happy or not happy with the service they receive from any of the Subway store.
They may also want to analyse what products/ sandwiches their customers by often, in order to analyse this, they business introduce the Sub card which is free for any of their customers who wishes to take it, but also it encourage customers to go to any of Subway restaurant, as the Sub card ive points every time you buy any of Subway products, the company do this to persuade/attract more and more customers into the restaurant. Subway.
Questionnaire- subway creating a questionnaire for their customers will take the business as long as three months, because taking them this long, it will give the business a firm reassurance of what their customers want, or if any of their customers have a negative thoughts over the business. It will also take the business three months, maybe more as they will have to give out the questionnaire to their customers, but also the company will have analyse the result when they have gather ll the data back, this is time consuming for Subway.
The questionnaire also will give Subway a reliable of information from their customers, and also will give them valid information of customers’ opinion over the business. Sub card data- Subway Sub card will give the business an ideal of what products/ sandwiches customers buy often. This sort of information will take Subway information and technology team no more than one month to analyse the data that they have collected from their customers.
This Job will cost Subway a huge amount of money as they may have to hire the right person to do the Job, but also in the long erm this information will give Subway a reliable form of data, because by then the business will know what products/sandwiches that their customers buy very often, and it will also give Subway a valid information and ideal of what they should spend their money on and what they should not spend their money on.
Sales figure- according to Subway their sales figure is the most important data that they should monitor at all time, collecting/analysing this information will take half of the business time, and it will cost them more money, as the company will have to employ a specialist to analyse their sales fgure. These gives Subway reliable information from the data they may have gathered, as it will tell them where they are losing out in terms of their sale figure been badly.
Definition of Marketing- Marketing is an action or a process to promote and sell products or services according to the customers’ requirements and expectations by identifying and predicting what customers would need, want and like to have. In marketing, products, place, price and promotion is used to help sell their products or services to customers. Products, price, place and promotion are also known as the “4 PS” in marketing. Businesses use this a lot when marketing as it helps them to understand what types of products and services customers like to have which makes it easier for them to sell to customers.
Doing this would help businesses make profits as customers would buy the products or services a lot. Product Customers like to buy the right product and/or service which suits them because customers would not want to buy a product or a service that is not right for them as they would have to have that product or service once they buy it depending on the rules, terms and conditions and the policies of the business the customer has bought the product from.
Some businesses accept returns and/or exchanges and others do not accept it. Subway also provide leaflets in some of their shops/restaurants to advert their products to customers, by doing this customers would want to see the products that are on meal deals such as buy one get one free. I have decided to choose Italian BMT as my Sub product.. My Sub Italian BMT will contain Genoa salami, pepperoni, and black forest ham, your choice of veggies, cheese, and dressing on your bread of choice.
It’s by far my favorite subway sandwich. This is because from my marketing research most customers said they like Italian BMT, this means hat more customers would buy my Italian Sub as more and more customers prefer it and it would be cheat and affordable. The different between my products with other fast food businesses, will be that the healthy ingredients, because that I found out that most customers will buy my products because the products that I am offering them is a healthy products.
Price Customers like to buy products and/or services at the right price. If the price for the products and/or services is expensive then customers would be put off and they would not or are unlikely to buy it. Customers would buy the products and/or ervices for the price the business has put it up for if the customers feel and know it is worth it. Sub Customers would most likely buy the businesses products that are on sales as all prices on products have been reduced.
I have used a low pricing strategy on my products because, to market research that I did I know that more customers will buy my product on a low pricing and that they will not buy any of my products if products were high in prices, due to the inflation in the economy. Place Customers like to buy products and/or services from places they know are good and easonable as well as buying products and/or services from places that are easy to access.