How Different Markets are Researched Using Different Models and Tools
LEARNING AIM-A: “EXPLORE HOW DIFFERENT MARKETS ARE RESEARCHED USING DIFFERENT MODELS AND TOOLS”
Research is a way to increase knowledge about any place or a person. To carry out or to understand a research information has to be collected which can be collected through various ways.
Market research is the procedure of understanding the viability of a new service or product via research carried directly with the potential customers. It allows a company to explore the target market and get opinions and feedbacks of consumers about their interest in the product or service. (TWIN, 2021)
In this assignment I will conduct a market research using both Primary and Secondary methods with that I will also discuss the feature of the UAE video game market including the competition, demand of the product or service etc.
The market research is conducting for SILVER STREAM GAME DEVELOPMENT CO. to launch their new product, that’s a gaming application known as, ‘SAFARI GAME’ to UAE one of an Asian Country. After the successful launch on UAE, it will be make available to all Asian countries and Europe too.
So, let us discuss the market research tools and result for Safari games in UAE video gaming industry.
RESEARCH OBJECTIVE
Primary Aim
The primary aim is to conduct a careful and effective market research on the video gaming market of UAE and construct a marketing campaign plan to launch the new application “Safari game”.
Secondary Aim
The secondary aims for this research are:
Firstly, to know about the competitors in the UAE market and their marketing techniques.
Secondly, to know about the sales and sale strategies of the competitors.
Thirdly, to understand the market conditions of UAE video gaming industry.
Fourthly, to know the demand of the product or service in the UAE video gaming market.
TYPES OF RESEARCH METHODS AND TOOLS USED
I have used both Primary and Secondary research in my research.
Primary Research: When researcher collects data directly by themselves rather then depending on pre-collected data collected previously. The advantages and disadvantages of this method are:
Advantages:
The data collected is up to date.
The data collected is specific to the issue or purpose of the research.
Additional information can also be collected.
The researcher has proprietor rights of their research.
Disadvantages:
It is time consuming and difficult.
It is expensive.
It requires more efforts to carry out this research.
If the sample is not big enough the results of the research will not be accurate and can be misleading. CITATION MRa21 \l 1033 (Rahman, 2021)
Methods & Tools:
Questionnaire are set of questions which are answered by customers or potential customers in order to take their opinion on a given subject. Questionnaire can be conducted face-to-face or either through call, post and different mediums. CITATION www21 \l 1033 (Anon., n.d.)
Advantages
Detailed Qualitative information can be gathered about a product or service. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
Customer’s opinions can be obtained. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
Can be carried out online so it takes less efforts and are inexpensive.
The responses are quick as they can be obtained in under 24 hours. CITATION Ste19 \l 1033 (Debois, 2019)
Disadvantages
If the questions are not well constructed, the results will not be accurate and can be misleading for the business. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
If taken face-to-face it becomes a time-consuming task and gets expensive (Karen Borrington & Peter Stimpson, 2018)
Customers might give dishonest reviews and might not answer some questions.
As I have discussed earlier, I’m using both primary and secondary data collection method for conducting the market research and preparing marketing campiagn plan for safari gaming application.
The primary data collection method that I have used in my study is a questionnaire survey.
There is a standard questionnaire which consists of 10 questions that should be answered by people. I have taken a sample of 25 responds from the people regarding their video gaming interest and other information relating to the same. The result I will show here:
THE RESEARCH TOOLS USED-PRIMARY METHODS
The Data I have collected will be mentioned in tabular format and the analysis part has been done by using appropriate charts and diagram.
AGE OF THE RESPONDENTS
AGE GROUP
NUMBER OF PEOPLE
10-15
16
15-20
08
20-30
01
30 & ABOVE
00
Total= 25
AGE OF THE RESPONDENTS IN PIE DIAGRAM:
As per the data I have got, 16 people has been coming under the age group of 10-15 years old and 8 people are belongs to 15-20 age group. This says teenages are more enagaged in video games.
2. GENDER OF THE RESPONDENTS
GENDER
NO.OF RESPONDENTS
Male
18
Female
06
Total= 25
The people who responds to my survey majority is male. That means male or teenage boys are more interested in video games. As per the survey data, I can come to such as conclusion.
3. INTEREST OF THE RESPONDENTS TO VIDEO GAMES
BASIS
NO.OF RESPONDENTS
Never played
00
Very much
18
Some what
03
Not really
04
Total= 25
Majority of the people who responded that they are very much interested in video games. And 3 people only mentioned that they moderately interested. And 4 people showed their least interest on video games.
4. TYPES OF VIDEO GAMES
TYPES OF GAMES
NO.OF RESPONDENTS
Sports
12
Strategy or puzzles
04
Adventure
06
Action
03
Total= 25
From this pie diagam, it is easy to understand that people are more interested to play sports game than puzzle/adventure/action.
5. OPINION REGARDING -VIDEO GAMES ARE EDUCATIONAL
OPINION
NO.OF RESPONDENTS
Yes
14
No
11
Total= 25
The data I have received is conveying that games are also a sources of informative or educational. 56% of respondents says yes to the question, whereas 44% is having an opinion ‘no’.
6.VIDEO GAMES DEVICE
TYPES OF DEVICE
NO.OF RESPONDENTS
Computer
14
Console (eg: play station, Xbox, Wii, etc.)
06
Mobile phone
05
Not at all
00
Total= 25
The survey says, majority of the people are using computer device for playing video games. Few people are using consoles and mobile phones as well.
7. DO YOU OWN A PERSONAL COMPUTER?
OWN PC/NOT
NO.OF RESPONDENTS
Yes
20
No
05
090170
80% of the people are having a personal computer at home. The rest of the respondents were marked ‘no’.
8. HOW FREQUENTLY DO YOU SPEND PLAYING ONLINE GAMES?
TYPES OF DEVICE
NO.OF RESPONDENTS
Once a week
05
3-6 times a week
16
Every day
04
Others
00
Total= 25
As per the survey result, 64% of people responded as they will play video games 3-6 times a week. And 20% of people responded as they play video games once in a week.
9. WHAT ATTRACTED TO YOU THE GAME IN THE FIRST PLACE?
BASIS
NO.OF RESPONDENTS
Game sites
03
Friends
04
Advertsiements
08
Affordable game price
07
Curiosity
03
Others
00
Total 25
Advertisemnets and affordability of game prices are the major attractions to the people to play video games.
Focus Group is a group of people who agrees and gathers to discuss or provide information about a particular product or idea. They are asked several questions or a given a product to try after which they can freely share their perspective, ideas and opinions. CITATION Ale19 \l 1033 (Writing, 2019) The possible advantages and disadvantages of this methods are as following:
Advantages
It helps a business obtain detailed information about the consumers taste and preferences. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
The interaction between the members of the focus group can help the business understand the reasons for people’s opinions. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
It is a cheaper than interviews.
Immediate ideas for improvement and feedback on a product or idea can be taken. CITATION Ale19 \l 1033 (Writing, 2019)
Disadvantages
It can be time-consuming and expensive if conducted by an specialist agency.
Discussions can be biased
Can be dominated by just a few people so the researcher need to be experienced to deal with this. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
Interviews: In interviews an interviewer asks pre-prepared questions to the interviewee. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
Advantages
The interviewer can explain any questions that the interviewee may not understand or find difficult. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
Detailed information can be obtained about what the interviewee likes or dislikes about the product or idea. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
Disadvantages
It is an expensive and very time-consuming method of gathering information.
The interviewer can lead the interviewee to answering in a certain way either consciously or unconsciously, which may result in an inaccurate result due to interviewer bias. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
Observation: When a researcher collects data through his understanding and observation.
Advantages
This method has greater accuracy. CITATION Aka21 \l 1033 (Choudhury, n.d.)
It is a very simple method. CITATION Aka21 \l 1033 (Choudhury, n.d.)
The researcher is independent of people’s willingness to report. CITATION Aka21 \l 1033 (Choudhury, n.d.)
Disadvantages
It is a very slow method.
Many occurrences are not open to observation can be observed when observer is at hand. CITATION Aka21 \l 1033 (Choudhury, n.d.)
Personal bias of the observer. CITATION Aka21 \l 1033 (Choudhury, n.d.)
Faulty perception. CITATION Aka21 \l 1033 (Choudhury, n.d.)
Not all occurrences lend themselves to observational study. CITATION Aka21 \l 1033 (Choudhury, n.d.)
Secondary Research: When a researcher uses a pre-collected data for his research is called secondary research. It is also called desk research. It includes research material published in research reports, documents. These documents can be made available by public libraries, websites, data obtained from already filled in surveys etc. CITATION Que21 \l 1033 (Questionpro, n.d.)
Advantages
It is quicker and needs less efforts as the data is already collected
It is cheaper than primary research
It can be used to help access the total size of a market by finding out the size and age structure of the population. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
Anyone can collect the data and a wide variety of sources are available. CITATION Sil21 \l 1033 (Valcheva, n.d.)
Disadvantages
The data might not be up-to-date. CITATION Sil21 \l 1033 (Valcheva, n.d.)
The data might not be specific to your needs. CITATION Sil21 \l 1033 (Valcheva, n.d.)
The researcher is not the owner of the data so everyone has access to it. CITATION Sil21 \l 1033 (Valcheva, n.d.)
The researcher does not have the control over the quality of data like in the primary research. CITATION Sil21 \l 1033 (Valcheva, n.d.)
Data can be biased in favour of the person who gathered it. CITATION Sil21 \l 1033 (Valcheva, n.d.)
Methods & Tools:
There are two sources of secondary research internal and external sources.
Internal sources are the sources that a business have with in its own records or within the organization like documents and reports. For example, the sales department will have sales report, and detailed data about the pricing data and customer details. Finance department will have data related to cost of production or providing services. CITATION Kar18 \l 1033 (Karen Borrington & Peter Stimpson, 2018)
External sources are the sources which are obtained outside of the business. There are many external sources. Some of which are stated below.
Reports is an organized and concise form of report. It is use for identifying and examining issues, events or findings that have happened in a physical sense, such as events that have occurred within an organisation, or findings from a research investigation CITATION owl19 \l 1033 (Anon., 2019).
The advantage of reports is that it can be obtained within the organization like sales report etc. It also helps in understanding and analysing different issues and problems. The data is relevant and specific to the organization. The disadvantage is that it takes time to analyse the data and come up with a conclusion.
Website/Internet: Website is a collection of publicly accessible, interlinked Web pages that share a single domain name. Websites can be created and maintained by an individual, group, business or organization to serve a variety of purposes CITATION www201 \l 1033 (Anon., 2020).Internet is a vast network that connects computers all over the world. It is a medium through which people can share information from anywhere and whenever they want by using an internet connection CITATION Rob21 \l 1033 (Kahn, 2021). The advantages of website and internet is that there are plenty of websites with information available on the internet. They are easily accessible and are free to access. We can easily get information from anyone from anywhere through internet. But the disadvantage is that as there are too many websites it is sometimes difficult to find the one with the correct information and it takes time to go through all those websites. The information may not be true and can affect the result of the research.
Newspaper and Magazines: They are written sources of information. They provide information from different sources and sometimes contains reports and statistics. It is a cheap source of information. The disadvantage is that the researcher has to search many newspapers and magazines in order to search for the specific one with relevant information. The researcher might not find the old newspaper or magazine with the relevant information.
Limitations:
In this assignment I have used both primary and secondary research methods to carry out my research.
In primary research I have used questionnaire method to carry out my research. This survey can be taken online and can be done by handing out a piece of paper with the questionnaire. But nowadays no one bothers to fill a survey on a piece of paper. Some people don’t have time like the students and business mans and 9-5 workers. So if I would have to conduct the research by handing out the questionnaire I would have not be able to get much responses. overall and get responses from the 9-5 job workers and business man that would have led to an inaccurate result. so I have made a Questionnaire document and have sent it to some neighbours, relatives and friends in order to get their responses. With this method the difficulties that I faced were that I had to still remind them to send the responses back on time and was a little bit time-consuming.
I had sent the questionnaire to 25 people via email and have successfully collected all of their responses. And I have spend about 2 weeks of time to get the whole people responds. Which I really felt bad.
The other method that I have used is the secondary research method to carry out my research as it is easy to get information and is not time-consuming. I can get more information as the internet has too many websites with information. But as there are too many websites so I had to search each and every website in order to get information. Some websites had information not specific to the topic and some had only few lines of information. And as the data is collected by other people, we do not have control over the quality of information.
THE CHARACTERISTICS OF MARKET
Now I am going to discuss the characteristics of the UAE market and why it is suitable for Silver stream game developing co. to launch their gaming application Safari in this specific market.
ABOUT VIDEO GAMING INDUSTRY
The video game industry has been around for decades, entertaining both children and adults. They’ve come a long way since the early days of computer games and the first versions of Nintendo and Atari. Pixelated screens and limited sound effects are a thing of the past, as video games have become more lifelike than ever. Video game industries are becoming more advanced as technology advances.
Video game development has become increasingly complex, and the cost of developing a game for one of the major consoles has risen in tandem. It was once unthinkable to spend millions on game development, but today’s games can cost tens of millions, if not hundreds of millions. In terms of production and marketing expenses, this has tried to push game development into the realm of Hollywood films.
The video game industry is massive. It is, in fact, more significant than the film and music industries combined, and it is only growing. However, it does not receive the same recognition as the film and music industries, with over two billion gamers worldwide. That equates to 26% of the world’s population. CITATION pon21 \l 1033 (ponlineot, 2021)
The video game industry is growing so fast that some believe it will reach over $300 billion by 2025. With billions of dollars in profit and over 2.5 billion gamers around the world, we can expect video game platforms to continue developing in 2022.
Besides the consistent and impressive growth of the industry, it is interested to note that there has been a shift in revenue sources in the gaming space lately. The gaming indutsry used to make most of its money by selling games but today its revenue is coming from a different perspective. CITATION Kok19 \l 1033 (Koksal, 2019)
VIDEO GAME INDUSTRY-UAE
The COVID-19 pandemic continues to take its toll on the global economy; however, the video game industry is expected to exhibit remarkable growth over the next few months. As governments across the globe have mandated home quarantining to prevent the spread
