1 / 9

Market Research

Market Research. Market Research. Today you will learn: What market research is You will be successful if you can: AO1: State 2 examples of market research AO2: Explain why businesses might use market research

vartan
Download Presentation

Market Research

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Market Research

  2. Market Research Today you will learn: What market research is You will be successful if you can: AO1: State 2 examples of market research AO2: Explain why businesses might use market research AO3: Make a business recommendation based on market research you have carried out. Stretch: Business Guru

  3. What is market research • http://www.bbc.co.uk/learningzone/clips/a-short-introduction-to-market-research/10957.html • Write a summary of what you have learned from the video clip • What is it? • Who does it? • Why do it?

  4. Why? Why do businesses do market research? What could happen if a business does not listen to market research http://www.youtube.com/watch?v=L-bVO9UFVZY (10.20-12.10 / 35.30-36.10) Discuss – what happened

  5. Kinds of market research How might a business find out what its customers want? Would you expect a big business to use the same methods as a small business? Why? Task Imagine you wanted to set up a “smoothie” shop in Ryton – what information would you want to know?

  6. Primary and Secondary Research • Primary – first hand information gathered specifically for the research • Questionnaire - Interview • Observations - Focus group • Secondary – information that has already been created for another purpose • Newspapers - magazines • Internet - Price lists • Company websites

  7. Smoothie business Task: For the “Smoothie” business you were thinking of setting up in Ryton – state how you might find out the information you wanted to know.

  8. Task Gather research to decide whether you think a “Smoothie” business in Ryton would work or not. Include examples of primary and secondary research. Put some data into a graphs/charts – remember skills from Mr Edgoose lesson. Make your decision and say why – remember exam technique and use of connectives and evidence to support your argument.

  9. More structured approach Write a questionnaire with appropriate questions and ask 15 people. Put the results into a charts/graphs and say what they show (Primary research). Remember different charts/graphs for different types of information Find out about other smoothie businesses using the internet – what do they sell, how much, locations (secondary research) If you can, try to find information that would help you decide if there is a market for smoothies Make a decision of yes or no and then say why you think that – use the information you have gathered (evidence) to back up what you are saying. When putting your work together make sure you demonstrate knowledge by using key terms. You do not need to explain them as using them correctly will do this. Look at the success criteria sheet to see if you have all you need.

More Related