3 Marketing research into setting up a competitor
This report has been commissioned to undertake research, for setting up a viable competitor to Tough Mudder in the Australian market. In order to do this firstly we will consider what is required for an undertaking of this type as well as the means and requirements to do so.
In beginning to design and develop a marketing information system (Kolter et al, 2013) for the task. It is important to ascertain, this refers to the collection of data that can be used to mitigate risk when making business decisions (Kolter, et al, 2013). There are two types of data primary and secondary (Armstrong, 2012).
• Primary data – information that is gathered for use with a specific goal in mind, this is usually …show more content…
Climate, region, urban or rural (Elliot, 2012).
• Demographic – This can include dividing people by age, income, ethnic background and gender (Elliot, 2012).
• Psychographic – where a person’s psychological traits such as motive and lifestyle choices are reviewed (Elliot, 2012).
• Behavioural – areas such as brand loyalty, price sensitivity, occasion and volume usage are considered (Elliot, 2012).
4.1 Tough Mudder’s approach to segmentation
Based on the information in the case study, the average Tough Mudder participant is a twenty nine year old male. Has an income of eighty thousand dollars per year. Additional information that can be determined from the case study shows us the Tough Mudder participant is a user of social media. This is validated by, the posted pictures and online advertising campaigns that have grown Tough Mudder to where it is today. As well as residing in one of the three contents races are held.
This leads us to an initial assumption that the segmentation employed by Tough Mudder is as follows.
Geographic
• Based in the three contents where races are held
Demographic
• Males in the twenty to forty age bracket, also known as generation Y (Elliot
This report has been commissioned to undertake research, for setting up a viable competitor to Tough Mudder in the Australian market. In order to do this firstly we will consider what is required for an undertaking of this type as well as the means and requirements to do so.
In beginning to design and develop a marketing information system (Kolter et al, 2013) for the task. It is important to ascertain, this refers to the collection of data that can be used to mitigate risk when making business decisions (Kolter, et al, 2013). There are two types of data primary and secondary (Armstrong, 2012).
• Primary data – information that is gathered for use with a specific goal in mind, this is usually …show more content…
Climate, region, urban or rural (Elliot, 2012).
• Demographic – This can include dividing people by age, income, ethnic background and gender (Elliot, 2012).
• Psychographic – where a person’s psychological traits such as motive and lifestyle choices are reviewed (Elliot, 2012).
• Behavioural – areas such as brand loyalty, price sensitivity, occasion and volume usage are considered (Elliot, 2012).
4.1 Tough Mudder’s approach to segmentation
Based on the information in the case study, the average Tough Mudder participant is a twenty nine year old male. Has an income of eighty thousand dollars per year. Additional information that can be determined from the case study shows us the Tough Mudder participant is a user of social media. This is validated by, the posted pictures and online advertising campaigns that have grown Tough Mudder to where it is today. As well as residing in one of the three contents races are held.
This leads us to an initial assumption that the segmentation employed by Tough Mudder is as follows.
Geographic
• Based in the three contents where races are held
Demographic
• Males in the twenty to forty age bracket, also known as generation Y (Elliot