Marketing and Information Management
Essay Preview: Marketing and Information Management
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MDP marketing and information management
Case study
Question one
Political environment
Macro economic trends
Micro Socio economic
One of most highlight current shifts in our economic is the increased cost of living. This exponential transition has outstripped the relevant comparisons of the past ten years. Inflation and per captia income have are inversely negative and therefore discretional spending has been margiles more the majority of the lower to middle income brackets
Coupled with a high debt ratio the consequence is that most consumer markets are experiencing a more prudent approach from their customer market. The trend seems to indicate a need to maximise value for each rands spend. This translates into carful choice reduction and substitution of consumption, particularly in the pleasure hospitality and entertainment sector. Reduce frequency or a budgeting approach has been come evident particularly in the family market segments. Businesses are also struggling to introduce costing strategies to offset the slower market behaviour. Macro economic trends will always impact on broad market behaviour particularly in a negative trend
However there is always a need to overcome negative climate and often the diversion to of entertainment is the catalyst.
Socio cultural
Technological changes and trends
Todays society is continuously bombarded by technologic innovation. To this end people from all walks of life are drawn to many new forms of entertainment facilitated by this new technology. Media and mobile communication has begun to usurp more time in our daily lives and has become a diversion to many traditional forms of leisure activities
Legal and legislative
Environmental and ecological
Industry and market environment
Use what you have its good and include the above issues
Question two
Secondary research
Extremer secondary data will present a challenge for this research study as it is postulated that very little research has been carried out in this field
Service providers such as compu -ticket would probably be your only external source. Internal data make also be uninformative; therefore it is advised to pursue a primary study.
Primary research proposal:
Definition of marketing problem:
Alternative entertainment has reduced growth prospect for the Bingo Bongo circus business
Research Objectives:
To determine the factors that is contributing to the organisations decline in sales and resultant reduction in market share?
To gain clarity on how to improve the organisations sales performance
To determine how the target segment customers perceive, the service in relation to similar offerings by competitors.
To ascertain which primary attributes of the value proposition, (Product, service, promotion and distribution) should be improved.
Research Question:
What dimensions are important to attract consumers and families to the circus and what attributes of a value proposition that would improve the overall market competiveness, of within the entertainment industry in South Africa.
Hypothesis:
The redesign of a market position in new markets will have a positive impact on growth and sustainability for the Bingo Bongo Circus
Outcomes:
To successfully reposition the Bingo bongo market
Limitations & Boundaries:
This research study will be limited to four areas
Sample Respondents will be interviewed randomly over the period of 6 weeks, starting * to *.
Research Design:
Qualitative research Methodology
Descriptive Study
Primary Data Sources, qualitative, data collection technique, questionnaire with personal interview.
Primary Research Collection
Sample Design:
Sampling technique:
Probability sampling technique
Random Sampling technique
Sample Frame:
All families and businesses
Target Population:
National:
Elements of analysis will focus on entertainment on a broad spectrum.
Population Parameter: Demographics
Age: 6-75 non gender specific
Attitudes towards:
The circus experience
Sampling Techniques:
Random Sampling Intercept (Forecourt and in store)
Non Response and omitted data process:
refusal rates will be reduced, by using phenotypic source.
Personal face to face interviewing
this is the most appropriate method of data collection, as it accurately captures the sample frame respondents and allows direct contact between the interviewer and the respondent. It also guarantees control of completed questionnaires in the shortest possible time frame, it must be noted that it is not the lowest cost form of data collection, but the most accurate and appropriate for this research project.
Measurement methodology:
Level of measurement required in this proposed study will be necessary to supply information, the identity of