Market Research in Business

Prepare For: MD. Irfan Jahangir

Submitted By: Tanvir khan
Submission Date: 01/08/2012

Acknowledgement:

At first, I want to give thanks to the Almighty. Then I would like to take this opportunity to thank
our honorable module leader MD. Irfan Jahangir from BAC, who has shown his keen interest to
boost our energy to develop our self the proper guidelines, which have made this study more
accurate and successful. Finally, thanks to my friends and family for their constant help and
support in every steps of my life.

Table of content
P3 Plan market research for a selected product or service using appropriate methods of
data collection..page4

P3 Plan market research for a selected product or service using appropriate methods of
data collection.

Research brief
Banglalion is multinational ISP Provider Company in Bangladesh. They are given their service
all division in Bangladesh. Now they are want to expand their business in cantonment area. So
they have to need the primary and secondary data. For this reason they are used the quantities
and the qualitative methods.
Data collection is a term used to describe a process of preparing and collecting data, for example,
as part of a process improvement or similar project. The purpose of data collection is to obtain
information to keep on record, to make decisions about important issues, or to pass information
on to others. Data are primarily collected to provide information regarding a specific topic.
The most problem of the Banglalion is that they are providing their service all division in
Bangladesh but the areas of cantonment of Dhaka they are use their service. If the cantonment
areas people are use this service then very easily they are inform their coordinates. By using this
service they are much benefited. When the Banglalion Company is providing their service in the
cantonment area then they are gaining the profit. At present they cant provide their service in

the cantonment area so in a sense they are loss in a profit and reputation.

The issue of the Banglalion Company

Business Trend Analysis: Business trend analysis is a way for companies to determine future
results in economic marketplaces. Reviewing past information can help management understand
current trends and where a market niche may be for a product. Current operations may also be
reviewed by trend analysis to determine the strength of certain product lines and if the market
will maintain the current supply of goods.
For knowing about the business trends the Banglalion company can use the market segmentation.
By using the market segmentation very easily they can find their business trend.

Market segmentation is the process of breaking down the marketplace into measurable items or
groups. Classifying individuals by age, sex and location; products by type, function and price; or
geographical regions into states, zip codes and counties. This allows management to review the
marketplace by very specific demographics, creating trend analysis to determine the economic
impact each group has on the company.
Trend analysis helps you understand how your business has performed and predict where current
business operations and practices will take you. Done well, it will give you ideas about how you
might change things to move your business in the right direction.

Identifying areas where your business is performing well so you can duplicate success

Identifying areas where your business is underperforming

Providing evidence to inform your decision making.

Market potential analysis: Market potential is that how much position has in the market. If now
the business position is low but in the next time how much they are developing in the market.
Now Banglalion Company are want expand their business in Dhaka cantonment area. When they
are want to expand their business then obviously they have to need the market research. For this
reason they are use the primary research and the secondary research.
Banglalion expand the market based on based on market potential. Now the Banglalion can
select to provide their service in cantonment. Because the most of the army of Bangladesh they
are live on there they are one of the parts of a country. Most of the people are educated, and they
have more knowledge about on internet. So I fill that cantonment area is the best.
Benefits of Market Potential Analysis

Understand market potential for a single store, network of stores or a new market

Deploy resources effectively by ranking markets in priority order

Forecast total opportunity in terms of number of customers and revenue potential

Estimate your market share

Set objectives
An end that can be reasonably achieved within an expected timeframe and with available
resources. In general, an objective is broader in scope than a goal, and may consist of several
individual goals. Objectives are a basic tools that underlying all planning and strategic activities.
They serve as the basis for policy and performance appraisals. The Banglalion company are want
to expand their business in cantonment area because most of the people of Bangladesh are use
the 4G network but the cantonments areas people are use the telecommunication internet service.
The army are one of the part of a country if they use proper internet service then the counter
make better development in the country. On the other hand the Banglalion Company are also
developed their business and they get more user. So they also help the countries people.

Write a research proposal plan of work:

The Banglalion Company should use the exploratory design because these designs only identify
the problem. if the Banglalion company use this research then they can reduce their cost and they
also collect the primary and secondary data.
Observers: Observers can make direct measurements on the fishing vessels, at landing sites,
processing plants, or in markets. Observers do not only make direct measurements but also
conduct interviews and surveys using questionnaires. They might also be involved in data
processing and analysis. The major data obtained through at-sea observers are catch and effort
data, which are often used for cross checking fishing logs. Data collected from processing plants
include quantities by species and, especially in modern factory practices, the batch number of
raw materials, which can sometimes be traced back to fishing vessels. These data if collected can
be used to validate landing data. When Banglalion observe the market then very easily we find

out the problem of the company. For getting the appropriate data collection they can use the
observation methods. They can use the hidden camera for the customer needs.
Experiment: Experiments are studies involving intervention by the researcher beyond that
required for measurement. The usual intervention is to manipulate some variable in a setting and
observe how it affects the subject being studied. By using the experiment method the Banglalion
company can make sure their data. When they are use the experiment methods then very easily
they can find out their variable data and find out their problem. So experiment can help to make
better result and better performance in the data collection.
Census: A census is a study that obtains data from every member of a population. In most
studies, a census is not practical, because of the cost and/or time required.
Sample survey. A sample survey is a study that obtains data from a subset of a population, in
order to estimate population attributes.

The proposal plan of methods of collection data

Customer survey: For customer survey Banglalion Company can Face -to -face interviews has a
distinct advantage of enabling the researcher to establish rapport with potential participants and
therefore gain their cooperation. These interviews yield highest response rates in survey research.
They also allow the researcher to clarify ambiguous answers and when appropriate, seek followup information.
For the interview they can use some questionnaire for customer. By using Paper-pencilquestionnaires can be sent to a large number of people and saves the researcher time and money.
People are more truthful while responding to the questionnaires regarding controversial issues in
particular due to the fact that their responses are anonymous.
1
2
3

Are you know about Banglalion

Yes
Are you use Banglalion product
Yes
Are you know the all information about Yes

No
No
No

Banglalion
7

4
5

By using Banglalion you are happy

Yes
Banglalion is the best than other internet Agree
service provider.
What types of product do you like

Disagre

No
Strongl

Strongl

y agree

Weekly Monthly

Monthl

disagree
Yearly

Pre-

pre-paid

paid
7

How much better our customer satisfaction

Good

Post postpaid

paid
Better

Best

None

Our internet service network is very strong then Agree

Disagre

Strongl

Strongl

the other ISP provider company

y agree

disagree
By using these Methods the Banglalion Company easily find out the data what they have to need.
Banglalion Company are want to expand their business in the cantonment area so they have to
need the proper information. So they have to need the primary data and secondary data. But now
they are visit in the sales service center for this reason they are collected the primary data. For
collecting the primary data they are making the customer survey with interview and the fill up
the questioners form. When they fill up the questioners form from the customer then very easily
they are getting the proper data.

Analysis and evaluation:

If we see the methods types then we are seeing that the survey with interview and questioners is
the best for the Banglalion Company. Because by using these methods very easily find out the
variable data which we have to need.
1. Save the time
2. Cost reducing
3. Gaining proper and strong information

4. Easily inform the consumer

5. Get the market trends
By using this methods Banglalion Company easily get the proper information and evaluate the
market based on their data collection.
If the Banglalion Company is select the secondary data resource then they will not get the proper
information. By using the secondary data they are only get the market trends. When they are use
the primary data then this is very effective for the decision making. Because this information we
are getting form the original customer.
By using the interview we are getting what types of product customer should need. Depending
on the data we can provide that types of product for the customer satisfaction.

Presentation of finding
In the end of time we can say that for collecting data the primary and secondary must haven. But
if we see the position of the Banglalion Company then very easily we relished that for solving
the issue we have to need the primary data. For collecting the primary data we can follow the
customer survey within interview and fill up by the questioners form. When Banglalion
Company is following these methods then very easily they collected proper data for their
decision making.

Re- evaluates market

In this stage the organization what is better for the company and how they are making better. If
any things mistake then they find out give the solution. For solving the miss out the Banglalion
Company can review the overall research.

References:
www.banglalionwimax.com
Service center in Banglalion. Dhanmondi road 27. In Prince plaza

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