Wednesday 15th November

Market research
L.O. To be able to explain the role of market research and methods used

Key terms RECAP

Primary research 1. Define ‘risk’
Secondary research 2. What are the three types of risk
1. Risk ***n
Qualitative
2. Risk *ver**
Quantitative 3. Risk *******
3. An enterprise must deal with many possible
risks, including:
1. F
2. E
3. H & S
4. H R
5. P
Starter

Have you ever filled out a

survey or questionnaire after
buying a product or service?

Why do you think that the

business did this?
Success criteria

To discuss the differences between primary and

secondary research

To explain the advantages and disadvantages of

primary market research

To analyse the different methods used to collate

market research
 Market research

 Market research is the

process of collecting,
collating and analysing
data about customers,
competitors or a market
 Now that we know briefly what
market research is, what to you
think the purpose of doing it is?

Activity 1
Discuss with the person next to
you and make notes
Purpose of market research

FIND OUT ABOUT FIND OUT ABOUT HELP REDUCE HELP PLAN HELP MAKE
CUSTOMERS THE MARKET AND RISKS OF MARKETING DECISIONS SUCH
WANTS AND NEEDS COMPETITORS INTRODUCING OR COMMUNICATIONS AS WHICH IDEA OR
SELLING NEW OPTION TO
PRODUCTS SELECT OR REJECT

TO EVALUATE
SUCCESS
Qualitative Data

Information that is gathered about opinions, judgements and

attitudes of customers.
Quantitative Data

Data that can be expressed as numbers and can be

statistically analysed about customers.
Methods of market research
 If you had a business, how would you collect information?
 Would you collect it yourself?
 Would you get it from someone else?

Activity

You’re starting an What information Give example of Write a small

ice cream selling will you collect it what you will do paragraph about
business in school what you will do
Plenary

Questions
you have
about the
lesson

Things you have been

reminded of today

Things you have learned

today
 Sunday 19th November

Market research
L.O. To be able to explain the role of market research and methods used

Key terms RECAP

Primary research
Secondary research What is qualitative data?
Qualitative
Quantitative
What is quantitative data?

CHALLENGE

Explain in detail, one purpose of market research

Methods of market research
What type of market
research do you think
these are

Surveys and
Interviews
questionnaires
Primary research
Primary research is collecting new
Consumer information or data for a specific
panels and Observations purpose.
focus groups
You collect this information yourself and
don’t use information that’s already
Test marketing available. This is original data.
Methods of market research

Activity
 Use your books to write a one sentence definition for:

 Surveys and questionnaires

 Interviews
 Consumer panels and focus groups- gathering a group of people
who have similar characteristics to the target market
 Observations – watching or recording what people do or buy
 Test marketing – introducing product or service to a small number
of potential customers to see the reaction
Advantages of primary research

 Up to date and relevant

 Not available to other businesses
 Most effective if a business wants answers to specific problem

Disadvantages of primary research

 It can be expensive
 Data isn’t always available immediately
 Sunday 19th November

Market research
L.O. To be able to explain secondary research, its advantages and
disadvantages and the methods used

Key terms RECAP

Primary research
Secondary research Define primary research
Qualitative
Quantitative
State 2 advantages of primary
research

Focus group being dominated by a

few members is an advantage or
disadvantage?
Secondary research (desk
research)

The use of information that

already exists and was originally
collected for a different purpose
Secondary research

Secondary research is much cheaper and quicker to collect

than primary research

You need to be careful, as the data may have been collected

for a different purpose. It may not provide specific
information to identify potential customers.
Task
Examples

Existing data from Newspaper and

your sales records internet articles
Challenge 9
How might you use some
of these methods for your
Trade
Government enterprise?
organisations and
statistics
journals

Company and
Market research
market research
agencies
reports
How can I use secondary
research
 Show what products are in demand and who is buying them
 Identify the number of competitors of their sales
 Identify a gap in the market not being exploited
 Illustrate which products are successful in other areas
 Identify costs for the enterprise
 Find target markets
 Compare the adverts of competing enterprises to compare
effectiveness or get ideas
 Spot trends and help identify what may happen in the
future
Plenary

Questions
you have
about the
lesson

Things you have been

reminded of today

Things you have learned

today
 Monday 20th November

Market research
L.O. To be able to explain the effectiveness of different methods of
market research

Key terms RECAP

Primary research
Secondary research Define Secondary research
Qualitative
Quantitative
State 2 examples of secondary
research

Explain how an enterprise can use

secondary research
Task
Advantages of secondary research
 Readily available
 Low or no costs
 Can provide lots of additional helpful information not
previously considered

Disadvantages of secondary research

 May not be relevant for the selected purpose
 Can be out of date
Task
 Questions for market research video task
What was the issue with the LG and Sony 3D TV?

How much did apple spend on R&D, how did they use the research findings?

What business failed to take advantage of the gap in the market?

What business successfully took advantage of the gap in the market?

How could have Colgate been successful with the frozen food venture?

How did Lego use market research?

Task

Qualitative data is information that is expressed in words (1). For example,

collecting data on people favourite drink would be qualitative data (1).
Quantitative data is information that is expressed in numbers. For example,
collecting data on people height would be quantitative data (1).
Success criteria

To discuss the differences between primary and

secondary research

To explain the advantages and disadvantages of

primary/secondary market research

To analyse the different methods used to collate

market research
Plenary

Questions
you have
about the
lesson

Things you have been

reminded of today

Things you have learned

today