Market Research for Business Profitability

This assignment explores the importance of market research in understanding target markets and driving business profitability. It delves into different sampling approaches, such as cluster, convenience, judgment, quota, random, and systematic sampling, outlining their benefits and applications. A table summarizes the advantages of each technique, highlighting how they contribute to effective market research and informed decision-making for businesses.

Running head: New ZEST SEDAN
New ZEST SEDAN
Name of the student
Name of the university
Author note

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Executive summary:
The aim of the report was to analyze the various research methodologies with the objective to
research for the Zest Sedan launched by the Tata Motors. The results indicate the importance of
the marketing research as a tool, which proves to be beneficial for the business strategies and the
relative sustainability. A web survey was conducted to achieve the objectives. This report
concludes on the importance and effectiveness of a relative tools used in market researches for
the sustainability of a launched commodity for the society. it is recommended to adapt the
suggestive tools for the research to make a valuable and proper business decision.

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Table of Contents
INTRODUCTION:..........................................................................................................................3
DISCUSSION:.................................................................................................................................3
Target Market Alternatives:.........................................................................................................4
Population Definition:.................................................................................................................4
Sampling Frame:..........................................................................................................................5
Sampling Approach:....................................................................................................................5
Effectiveness of Sampling Approach in Research:.....................................................................6
CONCLUSION:..............................................................................................................................7
REFERENCES:...............................................................................................................................8

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INTRODUCTION:
The Indian car organization Tata Motors, produced a Tata Zest, which is a compiled and
compact Sedan that was promoted at the Indian Auto Expo in 2014 alongside, a hatchback
version of the same named as Tata Boltz was also revealed on the same platform. This is an
initiation using the HORIZONEXT umbrella for the organization. The Zest is a segment of Tata
Falcon Program, which is again based on the pre-existing and available platforms as was for
Vista and Manza were built. The car is constructed by the organization at the Ranjangaon
Factory as is for Fiat. The Zest is available in the market in the diesel and petrol versions as Fiat,
a 1.3 litre Quadra-jet diesel motor while the petrol version comprise the new Revotron, which is
available with a manual automation for the diesel version ("Tata Motors unveils sedan Zest,
hatchback Bolt- Business News", 2017). This report provides an insight about the market
position, strategies and acceptance of the launched Zest Sedan through a detailed research on the
same.
DISCUSSION:
The term Zest significantly reflects the enthusiasm in the daily life, this projects the a
sense of excitement, projecting an energetic and upgraded version for the cars. The Zest sedan
and its hatch back versions both the cars are entirely based on the organization’s improvised X1
platform as pre-mentioned ("Zica — Dawn of A New Era for Tata Motors?", 2017). The cars
revolve around new introduced features inclusive of the specific Electronic Power Assisted
System (EPAS). These customized cars have been constructed, based on the engineering that
would make them potential for the global markets via the existing global teams or groups across
UK, India and Korea for improvising their standards relative to the various present segments.

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The EPAS enabled system for the engines are also provided with an ‘active return’ feature and a
sensitive speed relative to power steering. The other relevant and major feature list involves the
Anti-Lock Breaking System (ABS) and the stability characteristic.
Target Market Alternatives:
In the third largest economy belonging to Asia, comprise a slow growing economic area.
The interest from the consumer level indicates the maximum use of small cars, charting as the
biggest sellers in the market owing to the market and the population standards (Nielsen &
Wilhite, 2015). The compact sedan launched by the Tata Motors group and the corresponding
hatch was presented as one of the biggest opportunities from a brand position or market
positioning viewpoint. This was well coated and described by the senior vice president of the
company. The Tata Motors have launched their products with various salient and new features
on a positive as is much required for the organization, while it does not really matter on which
segment they target or focus. The company still has not yet promoted the new Tata brand
supporting the passenger vehicle since the Aria of the company since 2010 (Nielsen & Wilhite,
2016). The Tata Motors have accounted huge losses in the domestic area of operations while the
relative JLR sales in a wqay have rescued the organization in the target to sustain profitability.
Automobile industry remains in a low level compared to other internal market. The Tata
Motors is improvising its trails on electric buses following the development of the plug-in
versions relative to Bolt and Tiago models.
Population Definition:
A research population can be referred to a well-organized and described collection of
people or individuals and even objects, which are known to have similar features (Zikmund et

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al., 2013). All the individuals collected under a categorized population generally possess
common traits or goals. The interest of the small cars are generally categorized as the top sellers
in countries wherein, most of the population desires and demands for cheaper version and a fuel
efficient compact vehicles as the roads considered in such countries are at most of the times
clogged with traffic and the parking allotment is a difficulty in such countries. The rising of
interest rates as well as the fuel cost ranging higher in Asia, which as pre-mentioned is the third
largest economy, witnessing possibly the slowest pace have in a way, provoked the customers or
the population to pose a delay I the field o purchasing the bigger luxury versions or the
commodities that are launched (Sinha, 2016).
The trial version by the Tata Motors would enable the Indians to gain a leao regarding the
electric vehicle space as high range in demands might minimize the costs.
Sampling Frame:
In relevance to statistics, sampling frame could be defined as the material, which is a
resource or a tool from which a sample is derived. It generally refers to a list of all the
individuals or commodities present within a certain limit of the population who can be generated
or customized as a sample (Sekaran & Bougie, 2016). This purpose can be served inclusive of
individuals, institutions or any household commodities. A sampling unit might be dedicated to
division of the aggregate for the purpose of the same, wherein, a particular unit is possibly
regarded relatively as an individual and is indivisible on the selection mode.
Sampling Approach:
There primarily three major types of approaches regarding the sampling agenda relative
to quality betterment of any commodity subjected to research (Patten & Newhart, 2017). The

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prime types are the sampling for purpose, quota and snow-bailing sampling. The respective
choices for the approach are firstly the reasons for the chosen research methodology and the
purposeful approach is majorly most common. While, secondly, the approach of snow bail
sampling is a chain referral method used in the sampling set for the research of a commodity and
finally the quota sampling provides the researcher chances of selecting cases comprised within
various sub-groups available for research (Babin & Zikmund, 2015).
Effectiveness of Sampling Approach in Research:
Various sampling techniques can be applied, which proves to be an effective
methodology to obtain options comprising a wider range of consumers or population, a specific
team or a group, providing ways to discover the desires and demands about a certain amount of
individuals. This serves as a market research tool for the better understanding of the market
targeted for the increment in profitability and evaluate the business ideas (McDaniel & Gates,
2012). The suggestive techniques include cluster, convenience, judgment, quota, random and
systematic sampling approaches. the tabulated information would help in understanding the
effectiveness of the approaches.
Sampling Approaches Benefits
Cluster A quick and expensive methodology to conduct a
research without considering a wide population
Convenience Easiest approach by availing resources and
henceforth, business fledgling with lower budget
and loads of data is possible
Judgment Proves to be useful for those seeking valuable and
relevant case studies for analysis

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Quota The conduct process involves the division of the
population depending on major variables in order
to understand population
Random Is useful in determining both the estimation of
population and the sampling defects
Systematic This technique ensures the distribution of the
sample across the target market
Table:1
CONCLUSION:
The prime or the major methodology to long haul for any business sustainability is the
better and proper understanding of the target market and availing the opportunities present for
the business in the real time situation. For constructing a sustainable foundation and the
profitability of the same, market researching is essential, as it serves as a tool for making a
better-informed and structured business decision. Sample designs and the sizes are again a
priority for deciding the sampling techniques associated with the venture and as per the set
objectives for the target market to increase the profitability.

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REFERENCES:
Babin, B. J., & Zikmund, W. G. (2015). Exploring marketing research. Cengage Learning.
McDaniel, C., & Gates, R. (2012). Marketing research essentials. Wiley Global Education.
Nielsen, K. B., & Wilhite, H. (2015). The rise and fall of the ‘people's car’: middle-class
aspirations, status and mobile symbolism in ‘New India’. Contemporary South
Asia, 23(4), 371-387.
Nielsen, K. B., & Wilhite, H. (2016). 10 The rise and fall of the ‘people’s car’. Cars,
Automobility and Development in Asia: Wheels of Change, 171.
Patten, M. L., & Newhart, M. (2017). Understanding research methods: An overview of the
essentials. Taylor & Francis.
Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill building approach.
John Wiley & Sons.
Sinha, D. (2016). India Reloaded: Inside India’s Resurgent Consumer Market. Springer.
Tata Motors unveils sedan Zest, hatchback Bolt- Business News. (2017). Businesstoday.in.
Retrieved 11 October 2017, from http://www.businesstoday.in/sectors/auto/tata-motors-
new-sedan-zest-hatchback-bolt-unveiled-auto-expo/story/202919.html
Zica — Dawn of A New Era for Tata Motors?. (2017). Retrieved 11 October 2017, from

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Zikmund, W. G., Babin, B. J., Carr, J. C., & Griffin, M. (2013). Business research methods.
Cengage Learning.