MARKET RESEARCH
This week we were told to start producing market research to assist in further decision making for our own business. Through identifying your audience and the types of research needed, I will hopefully overcome any potential problems.
Competitors:
My main competitor is: Time Out as this is already an established business which is appears online and in print format. It also addresses various different places throughout the UK and frequent updates. This is one of my main competitors due to it's global success and vast content available. Although after conducting research it showed the age range of viewers of Timeout and that ranged from aged 15-34 both females and males. That is a huge demographic and I intend to focus on a niche audience and provide content directed at them. My app will also differ from the platform it's on and it will incorporate direct needs of students i.e: fashion and cheap days/ nights out.
My ideal customer:
Charlotte Wesson
Charlotte Wesson is 18 years old from Hertfordshire and is just about to start university at Birmingham City. She has only attended a couple of open days within the city and is nervous that she won't meet many people or be aware of what you can do within the city. Money is also a problem, yet has a key interest in fashion and wants to know how she can enjoy herself on a budget. She has also heard mixed reviews about starting university and what life in Birmingham can be like.
This would be our ideal customer because she has all the questions about living in Birmingham our app can provide. We aim to provide her with all the benefits and discounts of how to live on a budget, yet discover her new city. Through creating a platform with people like Charlotte Wesson, many can interact and share reliable and safe reviews on city life. This app would help first year students feel more confident when starting at university and fulfil their needs, ensuring they have the best experience whilst living in Birmingham.
Primary Research: I am going to create a short survey which will be published on various social media sites so the correct targeted demographic can respond. I am hoping this survey will enable me to discover how I can improve my enterprise idea and whether or not it will be successful.
My survey questions:
1: How old are you?
A: Under 18 B:18-21 C:22+
2: Are you male or female?
A:Male B:Female C:Prefer not to say
3:Are you currently at university?
A:Yes B:No
4:What is/ was your biggest fear about starting university?
A:Money B:Meeting people C:Work D:Living alone
5:Would you consider you know/knew your new city well before you started?
A:Yes B:No
6:Would you want to discover and share creative content with other students similar to your demographic?
A:Yes B:No
7: Do you use social media?
A:Yes B:No
8:What is your favourite site if you have one?
A:Snapchat B:Instagram C:Depop D:Facebook E:Youtube
9:Are you interested in fashion?
A:Yes B: No
10: Would you be interested in a platform to help you meet/ organise events with others?
A:Yes B:No
11:Do you feel safe online?
A: Yes B:No
Explain your answer below:
________________________________________________________________________
12: Do you actively follow and take interest in brand influencers?
A:Yes B:No
If yes, who?
________________
________________
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13: How would you rather pay for content on your phone?
A: Monthly Subscription B: Upfront C: In- app purchases