International Journal Of Tourism Research: A Market Research Study On Tata Zest

Discussion on Target Market Alternatives for the Zest Sedan

Discuss About The International Journal Of Tourism Research?

Tata Motors is returning to the market for passenger cars. They are also targeting the petrol section for the first time. Therefore, this assignment focuses on defining the target population for the company. In-depth insights on the methods are also discussed by which they can develop an effective approach to the target market (Ford, and Richardson 2013). The alternative ways of defining the population is also mentioned in the text. There is also a recommendation for strategy development. The alternative ways of defining the sampling frame and sampling approach is also discussed with a recommendation (Healey et al. 2014). The sampling approach must be in harmony with the sampling frame chosen method. The advantages and success criteria for the company to develop these strategies for reaching the market is also given (Morgan 2012). However, the company is aiming for increase in market share also in automobile industry, after launching the product. The assertion has been given for further improvement in the plan (Babin and Zikmund 2015). In a compact way, this is a market research study on Tata Zest. The company is in overhaul plan. This would also be adopted in the research study that have been given in the text. Also the sampling frame required for the research study and other discussion on the ethics of the research is considered while developing the research study for the company’s new launch on the new petrol segment cars.

The automobile industry of a company is dependent upon the consumer behaviour of towards the car segment. Companies go through a thorough market research process before launching a product, in this case a passenger car. Tata has also done the same before launching a Zest (Businesstoday.in 2017). A target market for zest has been identified as Delhi NCR where the passengers are from the youth section (Babin and Zikmund 2015). The target market is the serviceable area of a company and available market for business. The marketing mix strategy must be applied before the target consumers are presented with the product itself. In addition, the demographic, geographic, psychographic and behavioural aspect must be analysed before the strategies for target is developed (Morgan 2012). The target marketing of the company is known to be identified as the key segments that may have more concentration of intended buyer.  The dealers associated with the company is identified and planned to re-decorate the outlets in alignment with the new plan that the company has taken for launching this product (Akaka et al. 2013). The market place of the intended buyer of this car also comes under the petrol car purchaser. The important part of this launch is to increase the market share of the company to two digits, which was down in the previous year (Businesstoday.in 2017). The companies claim on the tag of next generation technologies enabled car that are sure to get response from the tech savvy active purchaser in India and other countries. 

Alternative ways of Defining the ‘Population’ for a Research Study on the Zest Sedan

The target market can be extended to international market for this car. The main value proposition that the company is offering its customers is to attract the youth section of consumers (Akaka et al. 2013). This will be helpful in building a strong brand for future. The customer loyalty will also increase as the proposed body and style of Zest is classy and supposed to be designed as a sedan. The proposed target market can be from the segment of middle to rich lifestyle related people as the cars are priced between 4.6 lakh to 6.9 lakh (Niedomysl and Jonasson 2012).

In this research study, the company must define the target population of the product they are offering. The target population is a result of generalised study (Akaka et al.  2013). The ultimate decision must be taken from the interferences drawn from the population. The participants of the group that are intending to buy the product come under the population to conduct a research on. The campaign must include the potential buyer of Zest too (Businesstoday.in 2017). An alternative way of defining the population is to do defining the constituents of the target population (Morgan 2012). Some organisations use the narrow definitions of populations and end up having holes in the research methodology. To gauge the internal perceptions of the consumer a precise population size must be defined and the result will be particular. For optimising the consistency of the target audience, a significant portion of the population must be taken into account. In this study the population has been identified to be concentrated in one region, which can be improved based on the target market expansion plan.

Another alternative way of defining the population can be dividing the primary collected data on the population in three different constituents. The potential constituents, secondary and primary constituents of the population sample. Tracking the population using an application-integrated service can be done for information gathering (Niedomysl and Jonasson 2012). The survey people should ask efficient question, articulate, and keep the record in a digital medium. Thus, it can ensure the potential client has differentiated taste. The in-depth interviews may be more useful for conducting further research.

Here the sampling frame that is being sourced from the device is the inquiries and walk in inquiries of the new product. After segmenting and targeting the people the important part is to preparing the right sampling frame. Using the census data, it is possible to identify and measure the population. One of the major problems of sampling frames is having bias samples. Bias should be minimised if the company wants lesser problems in forecasted results (Sekaran and Bougi 2016). There are different types of sampling frame. For example opinion poll and electoral register and other. The returning to the petrol car-purchasing segment Tata has obtained and organised the petrol segment in direct element sampling. The effectiveness and efficiency of that segment can facilitate to be selected sampling units (Morgan 2012). The auxiliary information element can be related to stratify the consumer segment of the identified demography of the target market. The information gathering process and information to increase the purchasing number is known as the function of market research. The quantity of people of the population can be gauged through the programs and services and upgraded to the database. To ascertain the ethnic, racial background of people the organisation can do a customer satisfaction survey of the previous model of Tata Motors cars. The focused groups or clients that will be identified in the defining the population, substantive data must be collected from the process to improve that. The sample survey observation can be asked to give suggestions for improvement. The impact of the inclusive programs must be including too (Ritchie et al. 2013).

Alternative ways of Defining the ‘Sampling Frame’ for the Research on the Zest Sedan

Taking the approach to cluster accounting the variables chosen can make the process of building the sample simpler and easy to draw inferences and conclusion. The forecasting based on the historical data of Tata motors car make the process of defining the population simpler. In defining the frame, the practicality of the technical issues needs to be upgraded and it must be disjoint population (Sekaran and Bougi 2016). Forecasting the differences for the future can be useful in drawing inferences.

Among the all-sampling approach, like simple random sampling, stratified sampling, purposive sampling, cluster sampling of taking decision on probable factors, the most effective way of sampling will be combination of cluster sampling and purposive sampling (Sekaran and Bougi 2016). A clustering done on the population will ensure that the people are identified under a particular cluster of the given population. The respondents are selected within the cluster (Crouch and Housden 2012). The main advantage using the respondents sampling method is the information availability of the population. The cost and feasibility are also taken into account; in addition, the geographic distance that separates the potential buyer segment is also taken into account. Inclusion of purposive sampling will also be directed towards analysing the buyer behaviour based on the characteristics of the samples (Crouch and Housden 2012). Tata zest can take into consideration the variability of race, location and preference gauging study of consumer taste in new technology. The population is also identified having higher disposable income and urban middle class network. The improvement in the technology will eliminate some of the competition (Schroeder 2012).

It can be recommended that the company must identify a new approach to its sampling method of doing research. The most effective way of doing sampling can be systematic sampling. This method of sampling takes more time than other sampling method and done on periodic basis (Ritchie et al. 2013). The probability of systematic sampling method is known as the interval sampling techniques. In this process, the probability of the potential buyer of Tata Zest is selected and the help of structured questionnaire they are asked the question. Based on the response the forecasting can be done (Healey et al. 2014).

Sampling ensures the convenience of the procedure that has been adapted by the organisation to conduct market research on. The cluster sapling method also divides the part where the company gets more specified data on their consumer behaviour (Maxwell 2012). The cost of sampling is less as taking the whole observation on the data will be impossible to take perspective from (Hair et al. 2012). This also takes less time in tabulation and analysis. The scope of investigation after generalising the data can be of concern for it will increase the impracticality of the populations. The accuracy of the data must be high and organisational problem must be taken into consideration for future development of sampling study (Healey et al. 2014). The suitability of limited resources also must be considered and taking the universal data is not viable (Ritchie et al. 2013). To build a good rapport between the researcher and respondents is measurement of effectiveness of the study. Population study is large and requires establishing adequate rapport of the study. Sampling frame are required to be build because there will be numerical and logical identifier, the additional information will be helpful in building more advance sampling frame. The recommended approach to segmenting, targeting is viable for getting a clear focus of the company to generalise their marketing strategy. Market segmentation increase competitiveness is known to increase market competitiveness (Schroeder et al.  2012). The market expansion strategy and increasing customer life cycle value decisions is also part of the process (Hair et al. 2012). While the research has been designed from the opportunities that have been identified while research the evaluation and monitoring the outcome is also necessary. This would ensure testing the innovation effective for the stakeholders. In addition, reporting the result is necessary from all the information outlets of the company’ dealer channels. This way the effectiveness can be ensured for relevant outcome of the research objectives.  The specific initiatives of performance improvements of service can ensure the sales can increase further in the future (Maxwell 2012).

Alternative ways of Defining the Sampling Approach for the Research on the Zest Sedan

Conclusion

Therefore, from the above discussion the target market of Tata Zest sedan has been identified. The criteria and justification of the target market has also been given. The alternative recommendation for this suggestion has been given in the text. Targeting the youth section of this product can be fruitful for the company. Recommendation is also based on the price range. The population for this company is also defined according to the necessitated factors identified by the company. The sampling frame has been given based on chosen segment for the Tata motors cars. The segmentation has been done based on observations from the customer walk-in inquiries data. This has also been done on the different outlets of the Tata showrooms and other dealers.

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