Develop a Market Research Plan

Running head: MARKET RESEARCH PLAN
Develop a Market Research Plan
[Kmart]
Name of the student:
Name of the university:
Author note:

MARKET RESEARCH PLAN1
Executive summary
The main purpose of this project is to highlight the importance of a marketing research plan. The
project establishes an understanding of a few things that greatly impact a business. This includes
but not limited to understanding the consumer attitudes for pricing and quality, their buying
behaviour, the competitors’ strategy for their products and services, and marketing mix of the
chosen product or service.

MARKET RESEARCH PLAN2
Table of Contents
1. Introduction:................................................................................................................................4
1.0 The company background:....................................................................................................4
1.1 Statement:..............................................................................................................................4
1.2 Research objectives:..............................................................................................................4
1.3 Project scope:.........................................................................................................................4
2. Research on competition:............................................................................................................5
2.1 Comparing consumer attitudes:.............................................................................................5
2.2 Services and those of competitors:........................................................................................5
2.3 Identifying frequency of use of competitors' products and services:....................................5
2.4 Identifying key competitors and their strengths:...................................................................6
2.5 Measuring awareness:............................................................................................................6
3. Research on consumers:..............................................................................................................6
3.1 Developing detailed consumer profiles:................................................................................6
3.2 Identifying changes in attitudes and behaviour patterns:......................................................7
3.3 Identifying existing, potential or lapsed consumers:.............................................................7
4. Research on place:.......................................................................................................................7
4.1 Identifying attitudes towards location:..................................................................................7
4.2 Identifying cooperative opportunities for distribution of information or services:...............8
4.3 Identifying demand for products or services at other locations:............................................8

MARKET RESEARCH PLAN3
5. Research on pricing:....................................................................................................................8
5.1 Identifying attitudes towards prices:......................................................................................8
5.2 Identifying costs:...................................................................................................................9
5.3 Testing alternative pricing strategies:....................................................................................9
6. Research on products and services:...........................................................................................10
6.1 Evaluating competitors' products:........................................................................................10
6.2 Evaluating consumer attitudes towards presentation and packaging..................................10
6.3 Identifying potential new products or services or ones which may be at the end of their life
cycle:..........................................................................................................................................10
6.4 Measuring attitudes towards existing products or services:................................................11
7. Research on promotion:.............................................................................................................11
7.1 Measuring advertising and promotion effectiveness:..........................................................11
7.2 Testing alternative messages:..............................................................................................11
7.3 Testing and comparing different media options:.................................................................12
8. Data collection:..........................................................................................................................12
9. Time lines and costing:..............................................................................................................12
10. Conclusion:..............................................................................................................................12
References......................................................................................................................................13