Question

Explain the market research process to an aspiring investor who wants to undertake a market research to determine the effects the new rail transport on haulage companies (road transport) in Tema.

Answer 1

The new rail transport affects the haulage companies in Tema. For market research, our objective to find the effects of modern rail transport on haulage companies. For further rail transport market research, I used the survey method and analysis of past and present transport data.

The new rail transport affects the house business because it is cost-effective comfort to the haulage companies' transportation. More environmentally friendly, capable of transporting large quantities, more reliable and punctual than haulage transportation, more efficient, better organized, safe transport, larger capacity, suitable for bulky and heavy goods, the government's administrative facility.

New train transport has some negative factors such as large quantity being beneficial to carriers; terminals are required to load, unload the freights, lack flexibility, door-to-door services, not suitable for small distances, and more formalities, etc.

After considering the new train transport benefits and losses, I found that the new rail is suitable for larger as bulky goods for high distance travel.

The haulage companies are facing some problems of lack of delivery orders; costly transportation compares to haulage. For the small distance and door to door service, haulage is still necessary for the shipping.