Benefits and limitations of using internet as a secondary research source
Internet, print media and company reports are the three secondary research sources that are not utilized within the business plan of Amber restaurant. Internet based secondary sources could be used in this business plan because of several advantages associated with this source (Andrews and Shimp 2017). Internet source could have been used in this business plan as it has the ability to attain large sample that can reduce cost of preparing business plan. Another advantage associated with such secondary data source is that it can be coded automatically so that there are less data entry errors. In developing the business plan of opening a restaurant internet can serve as an effective secondary source to attain a huge amount of academic information in research purposes. It could have also served as a potential research tool that can facilitate in opening up a new as well as comprehensive information source (Ashley and Tuten 2015). Internet secondary research medium could have also facilitated in carrying out interviews and surveys for recognizing tastes and preferences of target consumers in a cost effective and timely manner. This is for the reason that huge number of responses can be gathered in less time through this source (Burns, Bush and Sinha 2014). However, there could have certain limitations pf using internet as secondary source medium which considers that as huge amount of information is available freely on internet, personal information theft and misuse of the same is high. Another disadvantage that is associated with the use of internet is threat from viruses. Such virus attack can lead to crashing of computer hard disk along with automatically transmitting an individuals’ personal e-mail addresses and other details.
Print media could also be considered to be used in preparing this business plan of the restaurant because of its several contributions in gathering relevant data (Fill and Turnbull 2016). Using print media based secondary sources such as local magazines and newspapers can facilitate in attaining relevant information regarding the foods offered by the local restaurants. Moreover, print media use could also have facilitated in bringing attention to any advertisements. This is for the reason that magazines are highly popular among the consumers and are often followed by them for knowing about new business trends and consumer desires for the food products (Fossum et al. 2017). Advantages associated with employing print media secondary sources in preparing the business plan for the restaurant includes collecting relevant data about the foods offered to consumers in local restaurants needs markets to visits the libraries or wait for the reports to be shipped through sending mails. However, in employing the print media secondary source, certain limitations must also be taken into account that can affect the market research carried out for the business plan. Extracting consumer trends data as well as advertising on the print media might need a lot of time and planning (Hair Jr and Lukas 2014). Due to the limited time constraints print media use for market research resource might not be effective. Another limitation associated with this secondary source use includes lack of control over quality of data that might result in quality issues.
Benefits and limitations of using print media as a secondary research source
Company reports could have been used as an effective secondary resource for the business plan development of Amber restaurant because of several advantages associated with using it. Company report use will facilitate the market reasechers in attaining relevant information regarding the competitive position of the restaurants in the locality (Hair Jr et al. 2015). Moreover, it can also facilitate in analyzing the products and services offered by these restaurants, their advertising strategies and the consumers attained by them. Gathering such information could have also facilitated in analyzing the competition within the locality based on which this new restaurant might have decided their sales and advertising strategies. However, there are certain limitations associated with using the company reports for carrying out suitable market research in preparing business plan for the restaurant. Such limitations include data inaccuracy and it might turn out to be highly risky for the secondary market researchers to base their business plan report on such data (Hamlett and Lacy 2017). Moreover, certain other limitations related with such secondary data resources is that the data gathered from the company reports might not be specific. For such reason excessiveness of such information can serve to be limitation as well as advantage. The researcher might not attain answers for their specific concerns through restaurant data directly and researchers might require to research more to obtain relevant data.
The primary sources those could have been used in development of the Amber restaurant business plan includes questionnaires, case studies and interviews. Questionnaire primary research source could have been used in gathering viewpoints from the residents in the locality regarding their taste and preferences (Hair Jr et al. 2015). Moreover, there are also certain advantages with use of this primary data resource that includes its cost efficiency. This is for the reason that questionnaires can be distributed through the website or can be e-mailed to the target participants. Data collection from such research method can also rely on the ways in which it is administered to attain highly accurate data through market research on restaurants. This could also have facilitated the marketers of this new restaurant to find out the most favorite cuisines in the locality and in addition questionnaires serve as an inexpensive way for enhancing investment return (Hamlett and Lacy 2017). However, it has also been observed that there might be several limitations associated with using questionnaires in the market research of developing the business plan. Such limitations might encompass absence of conscientious responses that can take place in case the respondents have not read the questionnaire thoroughly before answering them. At times, the answers in this primary research method might also be biased as the respondents might not consider offering accurate responses, split-choices might be made by them or they might skip through the questions (Johnston 2017). Such limitations might further drastically affect the reliability of the gathered data. Another limitation also includes differences in understanding as well as interpretation of the geared primary data from questionnaires. This is for the reason that the respondents might deal with the issue of gathering the meaning of certain questions which might appear to be clear to the reasechers.
Benefits and limitations of using company reports as a secondary research source
Case study primary research technique could also be used in this business plan development for the reason that such research technique is deemed to have several advantages (Koekemoer 2014). The advantages of using the case study technique incudes continuous analysis along with data generalization. Case study of the successful and competitive restaurants in the locality within which Amber restaurant has decided to open its restaurant can facilitate in comparing distinct kind of facts regarding opening of new business in the region. Another advantage that can be attained through the case study research method considers adding value to all the research participants or the target consumers of this new restaurant by means of discussion or concrete subjects (Kozlenkova et al. 2015). However, there are also certain imitations in employing this research technique that must be taken into consideration by the marketers in developing the restaurant business plan. The limitations of using case study use can include differences in perceptions of the people involved. There are instances that the individual presenting the case study might represent it in a way that misses other aspects related with the restaurant business and its products completely (Andrews and Shimp 2017). Another disadvantage that is associated with the case study research source to be used in this restaurant business plan includes managing time that servs as the major criteria. This is for the reason that case studies take a great amount of time in comparison to other primary research instruments (Kumar 2015). In case the business plan for the restaurant Amber is to be developed within a short duration, case study market research is not considered in this business plan.
Interview primary research technique could have been considered to be used in the business plan of Amber restaurant because of numerous advantages associated with its use. The advantages might indicate that the personal interviews in comparison to the questionnaires generally attain an increased percentage of returns. In addition, the interviewer can also gather supplementary information regarding the target consumers personal information as well as the business environment (Luxton, Reid and Mavondo 2015). This can also facilitate in attaining correct responses from the interview and can also facilitate in clearing up the anticipated inaccurate or irrelevant answers through explaining the questions to be informant. Conversely, there are also several limitations related with use of the interview research in the current restaurant business plan. Such limitations include the aspect that efficiency of the interviews rely on regular training and skill of the marketers of the business plan. Failing of this might result in the data gathered through interview to be inaccurate as well as incomplete (Meshram, Pandey and Mankhand 2014). Another limitation of this research source is that the human equations can distort the returns. In case the interviewer has some bias, he might develop questions unconsciously in order to secure confirmation of his viewpoint.
In the business plan of Amber restaurant, certain marketing communication methods are observed to be employed in commencing this new business. Focused on such marketing communications method used in opening this business, justification of selection of such methods are carried out in this section. Such justification of the marketing communications method will be carried out in consideration to the major trends in the restaurant industry along with the major markets that is to be targeted by the new business marketers (Saffari et al. 2015). From the analysis of the business plan it has been gathered that traditional as well as modern promotional methods will be employed. Traditional marketing communication methods that are decided for Amber restaurant to be used includes advertisement, direct marketing and public relations. The justification of such marketing communication channels uses incudes building loyalty, increasing effectiveness and remaining personalized as well as targeted. Direct marketing can also facilitate in promoting the products and services that will be offered by Amber restaurant directly to all he targets consumers those require them (Meshram, Pandey and Mankhand 2014). The use of direct marketing campaign is deemed to be justified as an effective marketing communication tool for this new restaurant business as it can facilitate the markets in building effective relationships with consumers, testing appeal of its offered products and offering target consumers with interactive content. The advantages of using advertisement technique considers that it can facilitate Amber restaurant in introducing their food and services in the market along with attaining increased expansion of the business within the locality (Saffari et al. 2015). Using advertisement as a marketing communication channel can facilitate the restaurant in increasing sales, dealing with fierce competition, introducing superior quality products along with supporting the salesmanship.
Advantages and disadvantages of using questionnaires as a primary research source
Public relations-based marketing communication channel is used by the Amber restaurant for the reason that it can facilitate in attaining the power of reaching a huge base of target audience. This can also facilitate the business to attain a platform that can focus on attaining the credibility to the product or the organization (Shen et al. 2016). With the use of public relations marketing communications technique, it is deemed to be simpler to aim on attracting the target market that the restaurant business desires to reach. Media sources can also place the information that can facilitate in offering required information needed by them.
The modern marketing communication techniques that are decided to be used by Amber restaurant includes social media and internet because of its effective promotional advantages. Social media marketing communication channel is deemed to be justified to be used in this new restaurant business as it can increase brand awareness successfully. Social media can also serve to be the most cost effective digital marketing communication techniques that is used to syndicate content along with enhancing visibility of the business (Taiminen and Karjaluoto 2015). In addition, implementing a social media strategy is deemed to greatly enhance the brand recognition as it turns out to be engaging with a wide audience of target consumers. In addition, social media marketing can also facilitate in attaining large number of consumers and also it is free to advertise. This is for the reason that not any large platform has any kind of sign up fees and it just takes time as an investment. Moreover, another justification of employing the social media channels such as Facebook, Twitter and Instagram can encourage sharing of information related with the business of the new restaurant (Theaker 2017). Valuable information can also be shared with the target audiences through photos, videos and promotional messages that can facilitate Amber restaurant to take more effective business decisions.
Another modern marketing communicating tool that is deemed to be used by Amber restaurant includes internet medium. Several advantages are deemed to be offered by internet advertisement medium for the reason that it can facilitate the new restaurant in promoting the products and services online (Taiminen and Karjaluoto 2015). In addition, the internet medium is justified to be used for the reason that it offers convenient and quick service. The internet can offer easy accessibility with the consumers employing internet along with reaching markets in any place all over the locality. Internet advertising can also facilitate in attaining wide access to the large number of consumers. It has also been gathered that internet also serves as an effective advertising medium that can attract a huge consumer base for the restaurant. However, there are certain disadvantages related with use of internet by the marketers as a marketing communication medium that must be considered in the business plan. Interview primary research technique could have been considered to be used in the business plan of Amber restaurant because of numerous advantages associated with its use (Saffari et al. 2015). The advantages might indicate that the personal interviews in comparison to the questionnaires generally attain an increased percentage of returns. In addition, the interviewer can also gather supplementary information regarding the target consumers personal information as well as the business environment. This can also facilitate in attaining correct responses from the interview and can also facilitate in clearing up the anticipated inaccurate or irrelevant answers through explaining the questions to be informant (Meshram, Pandey and Mankhand 2014). Another disadvantage related with use of internet marketing considers that as this lacks human touch at the time consumer acquires a person from the salesperson. This also impacts the relationship building that has a vital role in repeat sales along with word-of-mouth publicity. In addition, as the internet communication medium greatly relies on the technology for this reason it can be vulnerable to the technical faults (Meshram, Pandey and Mankhand 2014). Such issues must also be considered by the marketers of Amber restaurant in order for this business to be successful.
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