The XYZ Company: Marketing Research Report (Assessment)

Introduction

The XYZ limited company was established in the UK during the year 1990 to become the market leader in funding creative projects in England. The company is strong in the UK and neighbouring regions. Providing support to creative projects and forms of art is useful in ensuring that innovative creations are recognized and marketed worldwide (Grover & Vriens, 2006, p. 7). The main competitors providing these services include the Global Link Company and Access Ax Limited. The company is now considering supporting talented projects from upcoming youths in the UK and beyond its borders.

Objectives

The objectives of this research are;

1. To examine the attitude of the society towards the project. This includes extending services to the other regions of the world.
2. To identify the consumers’ attitudes towards the services of the company and other competing brands.
3. The study also aims to determine the appropriate promotion platforms that can be used to launch and promote these services so that they can be accessed worldwide.

Desk research purpose

The desk research will specifically collect information on the trends of individual projects. It will also evaluate how they were supported and funded in the past five years. At this stage, the research will also collect information and develop a list of other similar companies, which offer supportive services across the world.

The other purpose of the desk research will be to identify the number of projects that are likely to develop from the UK into the other regions in the world. It will also identify and establish the support mechanisms which have benefited the society through the development and registration of creative arts across the world. The research also seeks to identify the prices that customers pay in accessing these services from their competitors.

Procedure

The research will begin internally within the XYZ Company by seeking permission from the management. The researchers will brief the managers on the requirements needed for the research, and hold a meeting with the administration of the organization for this purpose. The sales and marketing team will also be a part of this meeting.

The researchers will request for information on internal reports which indicate how the company has been performing on the market. Malhotra (2009, p. 14) argues that this is essential in the identification of the strengths and weakness associated with the company, especially in its marketing abilities.

An external survey will also be conducted, particularly about the organization’s competitors. The study will analyse the current market share of the company’s competitors such as Global Link. It will also review all the published information concerning its previous services. This will allow the company to identify the appropriate platform to pursue in the advertising and promotion of this new idea (Van Hamersveld, 2007, p. 20).

Qualitative research

Purpose

The purpose of a qualitative research is to study and understand human behaviour concerning the support they normally get in developing their creative arts. The purpose of this research is to provide qualitative information about consumer behaviour related to financing and other support mechanisms they receive from the XYZ Company. The qualitative research will identify the following;

1. The type of support that individuals with different skills in art receive from various competitors.
2. The levels of support they receive.
3. The class of individuals that is likely to use the concept in developing their work.
4. How they benefit from these services.
5. Whether the target audience will be ready to welcome the new service in their environment.
6. Whether they will confuse the new service with others that exist in the market.

Population and sampling

We propose three groups with the following profiles;

These groups will include;

1. Those who have benefitted from supportive companies.
2. Those who intend to benefit or get support in developing their projects.

Procedure

The company will be required to introduce its new project to the society. This can be easily done through a variety of on-line platforms such as Facebook, where people can follow and understand the new product. The audience will follow the links on social media which will direct them on how the new project works, and support those who wish to market their creative arts.

Quantitative research

The research proposes to conduct an on-line study because the target audience is geographically spread and reside in different nations. This strategy has been chosen because McDonald and Keegan (2002, p. 13) held that it is the cheapest way of contacting respondents, especially if they are geographically distributed.

Purpose

This stage aims to quantify the number of people that have benefitted from projects that fund creative arts. It will also provide the classification of work which is funded or supported. Through the creation of this classification, it assists the researchers to know the class of people who benefit from these projects, and the prices that they pay (Churchill, 2001, p. 17).

Population & Sampling

The research team made a decision to conduct 160 interviews in different households of different economic backgrounds. Churchill and Iacobucci (2009, p. 21) argue that a study which has a wide range provides a spread response, and the ability to identify interesting differences. It will be conducted on individuals who are aware of creative projects, as well as those benefiting from this funding.

Procedure

The questionnaires will be developed by the research team and made accessible on the internet. The research team will develop an on-line system where participants will be required to log in, interact, and respond to our questions. The digital questionnaires will probe the following areas;

1. The type of creative work that is currently being funded.
2. The class of individuals who are likely to seek funding for their projects.
3. The type of creative arts the participants have some knowledge about.
4. Whether the society is ready to embrace the new project.
5. The chances that they will confuse the project with the others that exist in the market.

Reporting

After the completion of the qualitative part of this research, a presentation report will be submitted. After this, a meeting will be arranged between the researchers and the organization managers. The phases of the research will form the main agenda of this meeting. An official declaration of the research findings will be released. This will also include the conclusions and recommendations of the study.

Timing

The following table suggests a time-frame for the study. This meets the deadline established by the company’s management.

Fees

The fees shown below are exclusive of VAT and they are subject to the assumptions highlighted in the proposal. The fees are also subject to the terms and conditions of the organization, and the company reserves the right to make alterations.

Credentials

The research will be conducted by the company’s research team under the stewardship of its director who has a lot of experience in marketing research. The director specializes in research techniques. He has studied and worked in the UK.

List of References

Churchill, GA 2001, Basic marketing research, Dryden Press, Fort Worth.

Churchill, GA, and Iacobucci, D 2009, Marketing research: Methodological foundations, 10^th ed. Cengage, Chicago.

Grover, R and Vriens, M 2006, The handbook of marketing research: Uses, misuses, and future advances, Sage Publications, Thousand Oaks, CA.

Malhotra, N, 2009, Marketing research: An applied orientation, 6th ed., Pearson Education, Ontario.

McDonald, M, & Keegan, WJ, 2002, Marketing plans that work: targeting growth and profitability, Butterworth-Heinemann, Boston.

Van Hamersveld, M 2007, Market Research Handbook, Chichester, John Wiley & Sons, New York.