Market Research and Marketing Mix in Lush Cosmetics

Individual E portfolio
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Table of Contents
Market research...........................................................................................................................3
Market research process.............................................................................................................3
Questionnaire design...................................................................................................................3
Marketing mix.............................................................................................................................5
Critical self reflection.................................................................................................................6
REFERENCES................................................................................................................................9
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Market research
Market research is a process of doing survey in the market in order to gather data and
info. it is done to collect data about customer trends, needs, target market, etc. so on basis of
that strategy is developed. In Lush cosmetics market research is done regarding opening of new
store.
The purpose of doing market research is to identify how potential customers view about your
company. It enables in finding out gap and then taking effective decisions. So, on basis of that
research data is analysed and it allows in developing strategy. Another reason of doing research
is it helps in evaluating market condition and position of Lush cosmetics in it (Munday, 2017).
Market research process
There is a specific process which is followed in it.
Define problem- here, it is first step in which problem or opportunity is identified. So, on basis
of that marketing research is undertaken. The problem is related to specific area in it. Similarly,
in Lush cosmetics opportunity was to expand market share by opening new store.
Develop marketing research plan- it is second step in which research plan is developed. In this it
is identified whether data is gathered from survey, questionnaire, etc. it depends on nature or
type of problem. Likewise in Lush cosmetics plan was to use questionnaire for it.
Gather relevant data- after that data is collected from target market specified. The data may be
qualitative or quantitative. Also, it must be ensured that data is valid and reliable. So in Lush
cosmetics data is collected from market.
Analyse data – here, data is analysed to obtain outcomes. For that there are many techniques
used. Thus, in Lush cosmetics data will be analysed to obtain findings.
Present findings - the findings are presented to audience in effective way. In that chart, graphs
etc are made to understand results in more precise manner. Hence, in Lush cosmetics portfolio
is made in it (Roberts,2018).
Questionnaire design
A questionnaire consists of different questions that contain choice to answer in it. Basically, it
is designed for doing a survey or research (Roberts,2018)
. Analyse data – here, data is analysed to obtain outcomes. For that there are many techniques
used. Thus, in Lush cosmetics data will be analysed to obtain findings.
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