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Unit 5:Marketing
and market
research
TASK 3: LO4 BE ABLE TO PRESENT THE MARKET
RESEARCH FINDINGS 
 P7: ASSESS THE VALIDITY OF MARKET RESEARCH FINDINGS FOR A SPECIFIC BUSINESS OPPORTUNITY AGAINST ITS
MARKET RESEARCH PROPOSAL
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HOW TO PREPARE MARKET RESEARCH FINDINGS
If 'Office lunches' chose to do a method (e.g,primary research) that involves in producing raw data, Brentley needs to analyse the results so that they can be used. The
data found is known as the raw data until it has been examined and processed into any type of form that is suitable for the business. e.g, tables, charts, graphs, or
diagrams. In this situation, I think 'Office lunches' should use graphs as they will be able to see which food product is selling well and how much sales has increased
from each products and from this, they can identify what products is not doing well and can improve on that. With addressing incomplete responses, 'Office lunches'
needs to examine why the incomplete responses has been received and needs to make a decision how they could move forward with the research. With these
incomplete responses, Brentley could try to analyse the percentage which will help determine if there are enough to produce a conclusion. With these incomplete
responses, it will help researchers like Brentley have the idea that these questions may not have been made clear, or it didn't make sense, or it was too personal. This is
a lesson for Brentley to rethink her questions again and provide a question she knows she will receive responses and will then be useful for the budget and time spent
in the future.
HOW TO VALIDATE MARKET RESEARCH FINDINGS
When validating the market research findings, Brentley must refer back to the start of her research of what she wanted to achieve, such as wanting to have options and
ideas from consumers to add to their business. From this, Brentley was trying to discover her customer's views on her selection of food. When planning her research,
the methods that was going to be used was primary research as she wanted to have a personal approach with the consumers and to know their preferences on her food,
where she could ask reasons for their response in order to make these changes in her business. The main question was the views based on the selection of the
vegetarian/vegan food and was answered successfully though the opinions of her food. Before analysing the research, Brentley may want to recruit a market research
specialist to analyse her research and present its finding. It must evaluate both the validity (accuracy) and reliability of the findings. 'Office lunches' may discover that
further market research is vital, with adjustments. Working out through the process is difficult, so Brentley should have a look at everything making sure the the results
are made of good standards and up to the requirements needed. If Brentley does not complete this, the she could identify the research, review it making it is referring
back to when 'Office lunches' started to plan its research, redevelop their source and remove any that is not relevant to their research, and finally execute their new
research and get started on analysing to produce their conclusions so they could make their marketing decision, which will be linked to the other aims and objectives.
HOW TO INTERPRET FINDINGS FROM MARKET RESEARCH
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'Office lunches' has to use the research to inform and adjust into their sales approach and identify the customer needs and information requirements.
They also inform their marketing strategy,  supplying Brentley with useful data. With the new research findings, 'Office lunches' could develop new
products which would increase sales generate a new profitable idea. Prioritisation is vital, presenting an excessive number of initiatives will lead to a
failure to accomplish any improvements. Areas for development should be ranked based on their significance to the customer and the ease with which
change can be achieved.
HOW TO ASSESS THE RELIABILITY OF THE FINDINGS
To assess the reliability of the business, 'Office lunches' needs to repeat its research findings to assure that everything is accurate and fix any small
mistakes as they can make a massive impact to the business. It's also to ensure that the researchers that the results has the same result and is true. With
regard to the sample size, 'Office lunches' should have a large sample size in order to lower the margin of error and the amount of variability in the
population which will assist Brentley to have a less risk of running into any problems that could affect the results of her research. The way to collecting
it is the size  of the population of the target audience. There is also the confidence level which informs Brentley how often the percentage of the
population that likes her collection actually lies within the boundaries of the margin of error. The percentage of respondents should be 'Office lunches'
target audience like employees who work in offices in the city where it is more likely to have more respondents working in offices and being realistic
and true to their responses. Overall, the time spent working on planning, producing, and completing a market research takes around 6-7 weeks as the
first week is planning, Writing the recruiting guide and Identifying the source for recruiting participants. Week 2-3 is recruiting the participants and
going though interviews. Week 4-5 is conducting the research depending on how long Brentley takes. Then focus groups is taken place which last for
just one week depending on the availability of the respondents. The last week is to write and present a market research  report. Although it is quite a
long journey for a market research, 'Office lunches' will be more organised and self-assured of the direction and decision they are taking.
HOW TO ASSESS THE VALIDITY OF THE FINDINGS
In order to access the validity of the findings, 'Office lunches' needs to measure and review their market research to confirm that it answers to the
campaign they intended to measure in the beginning, by checking the responses given by the respondents and identifying the issues within their
replies.
 P8: PRESENT MARKET RESEARCH FINDINGS IN AN APPROPRIATE FORMAT
FOR THE DATA OBTAINED AND AUDIENCE 04
QUANTITATIVE ANALYSIS
SIMPLE STATISTICAL ANALYSIS
Businesses uses their data and present the findings as statistics. This could be analysed using statistical analysis using the mean,
mode, medium and range methods. The mean is used by adding all of the number together and dividing by the number of results.
The mode is the number that is the most frequent. The Median is the information that is collected into numerical order which
helps to identify the middle number. The Range is identified by subtracting the lowest value from the highest value.
DATA PRESENTATION
GRAPH PRESENTATION
This is useful for summarising, explaining, or exploring quantitative data. While graphs are effective for presenting large
amounts of data, they can be used in place of tables to present small sets of data which helps the business to stay organised and
know the amount of data they have. This graph presents information that makes it easy for readers and reviewers to easily
understand the information which is very important as they will be able to identify what they need to focus on first in order to go
through the market research the right way.
SCATTER PLOT
Scatter plots are used to investigate an association between two variables. A point represents each individual or object, and an
association between two variables can be studied by examining figures through multiple points. Scatter plots are functional for
businesses like 'Office lunches' as the observation and reading is straightforward so it makes it easier for 'Office lunches' to know
exactly what they want. It also assists to recognise trends in the data by a positive correlation, negative correlation, or no
correlation. This shows Brentley an analysis of her market research and how well its doing.
BAR GRAPH AND HISTOGRAM
A bar graph is used to indicate and compare values in a separate category or group, and the frequency or other measurement parameters
(i.e. mean) as the height (or length) of a bar represents the amount of information in a category. Bar graphs are flexible, and can be used in
two or more data sets in each category. A stack vertical bar graph is used to compare the sum of each category, and analyse parts of a
category. While stacked vertical bar graphs are excellent from the aspect of visualisation, they do not have a reference line, making
comparison of parts of various categories challenging. This can appear to be useful for 'Office lunches' as they can see what they need to
work on, however it won't be in detail which can be a problem as they need to see clearly what they exactly need to work on.
PIE CHART
A pie chart, which is used to represent statistic data, where it visually represents a distribution of categories. It is generally the most
appropriate format for representing information grouped into a small number of categories. It is also used for data that have no other way
of being represented aside from a table (i.e. frequency table). This is a good way for 'Office lunches' to visually see the progress of the
market research.
PRESENTATION METHODS
WRITTEN REPORTS & PRESENTATIONS
A written report should have an introduction to explain how and why the research was completed. So 'Office lunches' would explain that
they their research was completed though primary research to identify their customers opinions on their food. A research objectives
explicate what 'Office lunches' expected to have achieved by completing the research. 'Office lunches' may wants to discover their
customers views on vegetarian/vegan selections and find the advantages and disadvantages to help them to improve and become better
than before. Next is the main findings of the market research, where it could be represented using graphs, so 'Office lunches' should use a
graph presentation as it will help Brentley identify what the main focus is and how to achieve their aims and objectives. Next comes the
conclusions, which suggest the action as a consequence of the research. Finally the recommendations for the future and the steps they will
take.
 M3: BASED ON ASSESSMENT OF OWN MARKET RESEARCH FINDINGS RECOMMEND IMPROVEMENTS OR ADDITIONAL
MARKET RESEARCH REQUIREMENTS
Looking through the market research findings, there are issues within them and does require some improvements and additional
requirements. When preparing the market research findings, I believe that not only should they review them but scrutinize it
carefully by going through it with the respondents together as Brentley may have missed out some key information and going
through it with the respondents also helps clarify through any mistakes and have a better understanding of the research findings
which will help them create a better plan on their aims and objectives which will bring succeed into the business. When it come to
the incomplete responses, 'Office lunches' should take more consideration into that as it is a waste of money and time so if
Brentley chooses to do primary research, she should contact the respondents in order to find out the reason and with their
exception, she could rearrange the question and make them do it again. When Brentley is validating her research findings, she
could also add all the possibilities within her research that she was planning to do, for example, she could bring out a new
selection of vegetarian/vegan food which fulfils customer needs that hasn't had a variety of vegetarian or vegan food so this will
increase sales and customer loyalty as their needs are being fulfilled and therefore in the future, customers can trust 'Office
lunches' with their choices. At the time of planning their market research, 'Office lunches' could include all the types of primary
researches as it could bring them a better response into their research and have a better view of the response which will help
them create better aims. Coming up to the format of market research of the statistical analysis. they should also include a written
presentation as presenting it statistically could come as quite confusing for businesses like 'Office lunches' which would delay
them into going though the process of the research findings and won't be able to achieve their aims/objectives. During 'Office
lunches' written reports and presentations, they should incorporate their aims and what they're gonna do using the research
findings.
 D2: RECOMMEND AND JUSTIFY MARKETING DECISIONS THAT THE BUSINESS
COULD TAKE
One recommendation from the marketing decisions that 'Office lunches' could take is to first identify what has not been doing good in the business and
what is the cause of sales decreasing and a low number of customer loyalty. For example, it could be that there's not enough variety of vegetarian/vegan
foods that customers could choose from as recently many consumers are changing their diet to vegetarian/vegan so this is a important topic Brentley
needs to review on and complete a market research to assist and find a solution to this concern.
Another recommendation 'Office lunches' could use is to not use all the types of market research because firstly it is expensive to conduct and it will
take up more time. Instead 'Office lunches' needs to think wisely on which type of market research will be more suitable for them that will aid them to
discover the clarification to this problem. For example, Brentley should perform interviews as it is an efficient way to have a better response and it is a
personal approach. This allows Brentley to be able to ask her own question where she can elaborate and receive a more in-depth response into opinions
and perceptions and discover the reasons behind the issue where she could use this to create her aims and objectives. This is a much better way as not
only does 'Office lunches' receive their answers but also have a greater and understanding relationship with their consumers as they will be able to
define their reasons and listen to their ideas that can help 'Office lunches' become an improved version, hence increasing their sales and the numbers
of customer loyalty which leads to 'Office lunches' becoming a trust-worthy and a reliable business.
To justify their market research, 'Office lunches' needs to always be consistent and persistent within their research to proves their dedication into the
business even if they don’t see an immediate response from customers, it stills shows that they do care about their customers' opinions. The techniques
that 'Office lunches' should use is to always update their customers on their new selection of food, deserts, or drinks into the business or they could
include vouchers for customers to win. This is a great way to increase customer loyalty as it shows that Brentley cares about her customers and wants to
provide the best customer service, and also create procedures for her customers to enjoy their service with them as well as their food. Moreover, with
the high level of customer service, customers can refer it to potential customers which leads to 'Office lunches' become a renowned noticeable business
with high levels of sales and revenues.
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