My Market Research Plan Essay

The business is an online clothing brand that sells products homogeneous beanies, hats, jumpers or t shirts exclusive to the brand.Purpose of the commercialize look into (eg to get word the behaviour of my customers, to abide by bulge who my competitors be and what they are doing, to understand what the market is like that I am entering etc)The purpose of this market look is to have an important knowledge ab reveal the market that Im entering, to know the strengths and weaknesses of every direct and indirect competitor in array to find the gaps in the market that can lead to the success of the brand. another(prenominal) purpose of the market look into is to understand what products customers want, and how they want it, they prices they can commit for every product and where they prefer to buy the products. This also helps to find out what promotion strategy the company should usage. inquiry Objectives (i.e. what do you want to find out eg to find out the size of my poten tial market, to find out what my potential customers want / need etc)My twain main research objectives are to find the importance of the business in the market of online retailers during its first two years and to see if a retailer with such prices for quality products leave alone become popular among the social networks where close to of the small businesses get known.Research methods to be usedThe two firsthand research methods that I leave behind use are questionnaires and focus group. By using these two types of primary research, I can gather both quantitative and qualitative data. A group of 8 people claiming to have fashion knowledge leave alone be recorded while commenting about different aspects of fashion trends during quantify periods, how they change and how to please customers the most. The questionnaires pass on allow us to know the veer ofprices customers can pay for trendy clothes and how they prefer the products ( quality, comfortable)I will use company repo rts and annual abstracts of statistics as secondary research methods in order to get important information about our competitors and their activities. The statistics will help us to see how trends have becharmd the market and how they will influence it in the future. That information might help on how to control the fiscal cash flows of the business because we can see what our competitors spent most of their income on. Well use the experience of the others businesses to avoid making the same mistakes.Market research questions (include the real questions you will be using in your market research) The market research questions to be used in my market research surveys or interviews are How often do you shop online? Do you prefer to shop online or at the store? Why? What type of items do you buy the most? Do you follow trends? Do you follow fashion blogs? What is your dressing panache? How much do you usually spend on clothes per month? What shops do you most visit? Are you happy wi th the prices you pay for your purchases?