Area B – Identification and carrying out appropriate market research

i) You will identify and carry out appropriate primary and secondary market research. Attach a copy of your questionnaire and any secondary research.

Primary Research.

Questionnaire Proposed For Market Research
What age group are you in? 15-17, 18-20, 21-23, 25+
Closed/circle answer
I had asked this question as it allows me to narrow done the secondary research into majorities.
Do you like energy drinks?
This will be a closed question as it is a yes or no answer and will save time.
If the questioner does not like energy drinks this then allows me to save time as he does not need to carry on with this questionnaire.
Do you use energy Drinks?
This will be a closed question as it is a yes or no answer and will save time.
If the person does not use energy drinks their information will be irrelevant.
Would you purchase an energy that is sugar free?
This will be a closed question as it is a yes or no answer and will save time.
This question will be directly asked to people who consume energy drinks and whether they would opt to buy a sugar free energy drink.
How much would you pay for an energy drink?
This will be a closed question and tick boxes will be provided.
The question allows me to make sure I have a suitable pricing for my product as my potential customers are providing me with information (if the majority say they would pay no more than two pound I will then not price the energy drink at three). When I mention sports/energy drinks, what is the BRAND NAME that FIRST comes to mind?
This will be an open question
This will enable me to see who I am competing with.
For what activities would you use a sports/energy drink for? (Name all that apply)

Questionnaire Analysis

What age group are you in?
15-17
18-20
21-23
25+
11
7
7
5

Do you like energy drinks?
Yes
No
24
6

Do you use energy Drinks?
Yes
No
24
6

Would you purchase an energy that is sugar free?
Yes
No
22
8

How much would you pay for an energy drink?
0.01-0.99p
0.99-1.99p
1.99+
7
23
0

When I mention sports/energy drinks, what is the BRAND NAME that FIRST comes to mind?
Boost
Redbull
Monster
Emerge
7
12
10
1

For what activities would you use a sports/energy drink for? (Name all that apply)
Thirst
Sports/Gym
General
11
15
4

What does the questionnaire analysis show?
The questionnaire analysis is important to me as they will show who my target market initially is as well as major competitors, it will also show me whether the product I am trying to make appeal to people work as potential customers will give me feedback on my product. The questions are objective as it allows me to improve my products or adjust my pricing via the feedback of the questionnaire. The questions asked via the questionnaire featured both closed and open questions, it was important that both were used as not only does it minimalise time consumption it enables the research to be effective as the required information is obtained to meet the demands of consumers.

Interview (Primary Research).
Through carrying out qualitative primary research in the form of interviews, it has been concluded that Monster, Emerge and Red Bull are the most popular choice of energy drink and are the main competition in the market. The following quotes are taken from the interviews to show favoured brands:
“Red Bull or Monster, because they are the best brands.”
“I would probably drink a cheaper brand such as Kx.”
I then asked several people to say the first thing that comes to mind when hearing the words ‘energy drink’ and people associated energy drinks with words such as: Boost, Fizzy, Energy, Awake, Active and Healthy.
Moreover, I then asked the interviewee to name a price he felt was affordable and appropriate for an energy drink and through the information given I can state that the interviewee’s considered a reasonable price for an energy drink to be around the £1 to £1.20 region. However, any higher than this is regarded as too