Table of Contents
SECTION ONE 2
Scope and Limitations 6
Summary of Market Assessment 6
SECTION II 8
An Effective Market Mix for the Proposed Full Service Chinese Restaurant 9
The Market Mix 19
SECTION III 20
Contribution of Group Members 21
SECTION IV 22
APPENDIX A 23
APPENDIX B 24
APPENDIX C 33
APPENDIX D 35
In writing any business plan, the pioneers of the business need an understanding of the business in detail and the environment in which they intend to under take the business. In order to gain this understanding various research approaches are put to use.
Importance of Information Collection in Marketing
The key question is why is information collection important in developing a marketing plan? The need can be classified in to four main categories:
1. First, information collection is needed to understand what the consumer needs. The consumer is the starting point of any marketing plan or business proposal. A full understanding of what the consumer needs will result in the ability to develop a product/service to satisfy that need. Information gathered will also assist to determine the proposed target market of the product
2. Information collection is necessary in order to obtain an in depth understanding of the marketing environment, there by ensuring the success of the proposed product being offered to the consumers. An understanding of the marketing environment encompasses the structure of the market, the law/regulations guiding that environment and the style of marketing which will be effective in order to access the target consumer based. An understanding of the marketing environment also will assist in estimating the size of the target market.
3. A full understanding of the market place will give insight on prospective competition within that target market and the strength of the...