Rideu Case Study Essay

920 Words4 Pages
Rideau Medical Limited has developed a mood enhancing cream based on the doctor’s reports about the side effects of the mood enhancing tablets. After receiving approval, RML is now ready to market its product, however the company has asked us to carry out a research and gather as much information as possible so that the company can base their final decision on the results of the research. I will be carrying out both primary and secondary research to collect accurate information from different sources. The objective of this research is to find out how fast will the cream sell out, predict a profit or possible loss and future sales. I will use two research methods, which are: Survey (primary), Internet reviews and reports (secondary). For my…show more content…
The company will base its decision on the research we’ve carried out for them therefore it is important the results are accurate as once the product is marketed with a bad reputation it will be very difficult to create a new positive reputation and awareness of the product. • Research method and timing Secondary research: I will use internet product reviews and reports to collect information about mood enhancing products and find out different customer opinions and points of view. I will seek for information such as, opinions on such products, what do people like/dislike, what do customers expect from such products and how much money they usually spend on such products. Primary research: I will use a survey in a form of a multiple choice questionnaire to collect quantitative information. The questionnaire will consist of an approximate of 12 questions, including multiple choice answers of information that the company requires. The reason for such a method is because it will ensure accurate information and quick responses. Qualitative data collected will provide me with different opinions and points of view and therefore much richer and detailed information to base the company’s decision
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