SECTION FOUR
Market Research
What primary and secondary research have you conducted?
• I have conducted an online survey as primary research in order to get an understanding of my target markets opinions.
• I have completed a market positioning map in order to compare my brand with its competitors in the market.
• I have completed comparative shop reports comparing garments from my brand to garments from competitor brands in order to find out the difference in pricing, material and styles.
• I have used WGSN to research different things throughout the project.
Key findings from primary research:
• From the survey, I found that many younger people would shop more in Ted Baker if they had a lower price point. The mixture of opinions is very varied but overall, I think the survey has showed me that my collaboration idea will be successful with my target market.
• From the comparative shop reports I completed I found that Ted Baker had a higher price point than most of its competitors. However, the styles used by all of the brands were all very similar, it is clear to see how they all appeal to a similar consumer.
Key findings from secondary research:
• Due to using WGSN as a research source I was able to pin-point key features of the trend Psychotropical for my 20-piece range. I found out what the key aspects of this trend are and was able to put this into my range plan. This research has helped me ensure that the range I have produced a range which will be successful.