For my business studies coursework I have been given the choice of opening an ice-cream parlour or a sandwich bar. I have chosen to open a sandwich bar as I believe that there will be a demand for sandwiches the whole year and not for ice-cream. To open this sandwich bar I will first need to obtain research in the form of primary and secondary. Primary research This is the collection of original information and is carried out by making direct contact with potential consumers. Examples of primary research are questionnaires, interviews, observation consumer panels.
Advantages are that the information is up to date and can be designed to suit the required needs. The main disadvantage is that it is time consuming. Of the examples of primary research I will use a questionnaire as I can design the questions to suit my needs. Advantages of a questionnaire Information is directly from the target audience. The questioner can help the member of the member of the public to understand the questions. Quick to fill in. Can be put in a database.
Disadvantages of a questionnaire Time consuming People resent being stopped and questioned People give you wrong answers to get away quickly Secondary research This is using already published statistics, data and other information that has been collected previously. Advantages Cheap Accurate Disadvantages Can be out of date. Pricing I will not ask the consumer about pricing of my products as I am planning to get the prices of sandwiches from some of the other sandwich bars in Ballymena. Whenever I open my sandwich bar I will use competitive pricing and price just below my main rivals as this will attract more customers.
Location For my sandwich bar I will have to find a suitable location in the Ballymena region, in my questionnaire I will ask how far people are willing to travel outside the town to get to a sandwich bar. I will also have to consider the price as too high a price could jeopardise the life span of the business.