Enterprise and Entrepreneurial Management

Table of Content

1.0 Introduction                                                                        2

2.0 Market Research                                                                        3

3.0 Primary Data                                                                        3, 4

4.0 Secondary Data                                                                        4, 5

5.0 Market Research Remedy Ltd Hypermarket                                                        5, 6

   5.1 secondary data        5, 6

   5.2 Primary data        6, 7

6.0 Conclusion        7

7.0 Reference        8

1.0 Introduction

  Remedy Ltd hypermarket was come a new service that is 24 hours shopping mall. The mission of the company is” serve each customer like king”, “the service was not stop when the first step you came in to the market”. The vision of the company is become the world best service hypermarket. The slogan of this hypermarket is “where u need where we are”. What was special about this hypermarket? First, this hypermarket was open 24hours every day without closing time and off day. Second, sell everything. Whatever you want to buy you also can found it in the hypermarket in any time. Third, the free service that help you bring your stuff to your car after your purchases. You just send the stuff that you don’t want bring along to the sending center and you can continue to enjoy the moment at the market. They will help you send over the thing to your car and you just need get the car key before you go home. Fourth, the delivery of the stuff when you purchase through by online with the term and condition apply. The reason coming out of this service is easy the consumer for those who are alone coming purchase at the hypermarket especially the house wife and the student or office workers. Normally the house wife are alone go to hypermarket to buy the daily use, and it was very heavy to bring along to the carpark and return back again to continue enjoy the market when they purchase all the daily need in one time (grain, cooking oil). The student or office worker sometimes they run out of the working or study material when during the midnight. All of this problem can be solve by this hypermarket easily by 24hours operation, sending stuff service and delivery.

  In this idea, for those who working at night shift can enjoy their suppers at the hypermarket and enjoy their night life with watching movie, shopping and so on inside the market. The joining the hypermarket as a member can have special exchange gift when the member point are enough to change the gift. The safety and the privacy of the consumer are highly be protected by our market to avoid unlucky things happen.

2.0Market research

What is market research? Market research is the process of collecting, analyzing and interpreting information about the market and product or service to be offered for sale in that market, and about the potential consumer for the product or service. The research study the consumer or competitor and the business’s target behavior and the industry environment and opportunity (Livefyre, -). Why does it important to company before they started the business? It because accurate and through information is the foundation of all successful business schemes because provides an information about prospective and existing consumer, competitor and the industry. A product or services are impossible to develop into a market without the market research (Livefyre, -).The advantages of market research is to minimize the risk before we began our business. Besides that it also help to understanding the consumer behavior, competitor and the market environment. The way that to improve ourselves before we give out the service or product to consumer.

It have two type of market research, first is the primary data, and second is the secondary data. Primary data is research that we compile ourselves or hire someone to gather for ourselves. Secondary data is the research is done compiled and organized for us (Livefyre, -).

3.0 Primary data

 Primary data is you collect the data by yourself through by the way interviews, observation and questionnaires rather than simply relying on existing data sources. In other word, primary data is your own study to the market, consumer and competitor (Wilson, -). The primary data are contained into two type of methods, it is quantitative and qualitative.

A quantitative research can be defined as a logical and data-le approach which provides a measure of what people think from a statistical and numerical point of view. It can be examined in as impartial a manner as possible. Quantitative research can collect a large amount of information that can be easily manage and manipulated into reports for analysis (library, -). These are variety of survey methods to conduct: mail surveys, telephone surveys, observation, and internet surveys.

A qualitative research cannot express by number. It directly collect the data for the consumer and ask more detail such as how they think, what they feel, why the choose this. Qualitative research normally led with discussion around certain concepts or idea with open questioning. These are variety of survey methods to conduct: face to face interview, group interview, and more personally survey.

The advantages of the primary data is can clearly understanding the whole data that have been provide and it is a new data have been collect by own company use only. The disadvantages of primary data is it take too longer time to collect and the higher cost of the survey.

Face to face interviews.  A face to face interviews is a direct approaching of an interviewer (often the researcher) and an interviewee

 Advantages of this kind of interviews are the respondent’s feedback can often be recorded, and thereby providing accurate information.

Disadvantages is setting up and carrying out the interview can be problematic and unwillingness to answer questions.

Focus group interviews .A focus group is an interview carried out by a trained researcher whose role is to observe participants within the group and both ask questions. The focus group is made up of a relatively small number of individuals (usually 8-10).

The advantage is a great idea can drop out of the blue and specific to the purpose it’s needed for

Disadvantage is lack of experience in organizing and carrying out the interview.