Market Research

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  • Created by: Abigail
  • Created on: 01-04-14 19:49
  • TMG includes - need, size and competition, i.e. topshop and river island
  • if no market research is done there could be a risk to the business
  • market share means getting the biggest share of a product
  • primary research by shops includes surveys, mystery shoppers and opinion polls
  • secondary research includes competitor research, SWOT analysis and industry environment like data charts
  • SWOT analysis means STRENGTHS WEAKNESSES OPPORTUNITIES AND THREATS
  • shops like to enhance their in-store experience by visualising
  • there are more ways to connect with customers now like through social media, products are posted on facebook saying 'click to buy' and it takes people to that exact product
  • on Burberry's website they have an instant chat where customers can talk to staff asking for tips for trends or what to buy etc
  • in their shop they have videos…

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