Market Research About A Successful Hot Pot Brand Marketing Essay

Market Research About A Successful Hot Pot Brand Marketing Essay Hai Di Lao is a pioneer of modern hot pot and has become really successful. In this research, I will objectively find the reasons why Hai Di Lao is so competitive. After anglicizing different factors, we can know brands weaknesses and strengths. This will help Hai Di Lao achieve a dominant position in its market. Food is an important part of culture, just like McDonalds has bright western opinions into China; a strong foods brand can accelerate international understanding. Of course, Hai Di Lao is a potential one. The sampling method of this market research is accidental sampling, a type of nonprobability sampling. A sample was chosen which involves a population that was easy to access; students. Data was from 20 students aged fewer than 25. I will discuss the disadvantages of this method later in LIMITATION part. A total of 20 paper questionnaires were sent to students. Only 18 questionnaires are useful and only 14 questionnaires helped when analysing Hai Di Lao. Questionnaires can provide first-hand information. However, questionnaires can be ineffective as they use time and resources (including wasting paper). Focus groups and internet feedback could be used in the next research. After analyzing results of the market research, there are four reasons: product, price, promotion and place to explain Hai Di Laos success. Initially, product is the most essential aspect when estimate a market. Most students think food and service in Hai Di Lao is excellent. Its obvious that the product has positive impression among customers. In addition, price a vital determinant. People dont regard Hai Di Lao as a cheap consume. Luckily, most of students think its reasonable. Methods like half-size order helps to decrease negative impact. Then, Hai Di Lao promotes itself by fantastic service and features. Hai Di Laos service leaves deep impression in customers mind. Features can make firm more attractive. Furthermore, region has big impact on business. Different places have different tastes, hot pot is always more popular in middle and northern China. Students from those places shows their great passion to hot pot, especially Hai Di Lao has proved this opinion. Though there strong competitors like Little Sheep and Xiabu Xiabu , Hai Di Lao has achieved great success by producing excellent food with perfect price at right place in a suitable price. Conclusions and recommendations In this research, questionnaire is design carefully for the meaning of each question is clear, Closed questions are asked to ensure quantifiable results and its finished by asking for full demographic and user ship details (Marcouse et al,2003,p147). However paper questionnaire isnt a really effective way. On-line, postal or delivery and collection questionnaire can be more effective choices. Lack of suitable time plan has caused some problems in latter data analysis. Limitations In the survey, accidental sample has limited by age, region and income. Data collected can not represent all the customers that Hai Di Lao has.