This document discusses market research. It defines market research as researching customer needs and future needs to develop products that satisfy those needs and make a profit. It covers primary and secondary research methods. Primary research involves direct data collection through questionnaires, surveys, interviews. Secondary research uses already existing data. The document discusses advantages and disadvantages of each method. It also discusses qualitative and quantitative data, closed and open-ended questions, and sampling methods like random, quota, and stratified sampling. The document provides examples of market research questions and explains how to analyze results and draw conclusions to help businesses.

1. AS Business
Market Research 1

2. What is market
research?

3. Market Research
• Know what market
research is
• Be able to explain
the different types
of market research
• Apply the market
research to your
product

4. What is market Research
• Researching market for
product helps reduce the
risk of failure
• Looks at current
customer needs
• Anticipate future needs
• Can then develop
product to satisfy those
needs and make a profit!

5. Primary Research Secondary Research

6. Primary Research
Advantages / Disadvantages

7. Secondary Research
Advantages / Disadvantages

8. Open
Questions?
Questionnaires / Surveys
Closed
Questions?
Qualitative
data? Quantitative
data?

9. Write a market research questionnaire with at least 5
closed questions about your product
Now ask at least 6 people to complete your questionaire

10. Present your groups’ answers
1.What do the different answers
show? Decide on the best way to
present them.
2.Analyse your answers. What 3
actions do your recommend to your
company as a result of your survey?

11. Market Research
• Know what market
research is
• Be able to explain
the different types
of market research
• Apply the market
research to your
product

12. AS Business
Market Research 2

13. Secondary Research
LO1) Identify and explain the different methods of primary and secondary research.

14. Primary Research
LO1) Identify and explain the different methods of primary and secondary research.

15. Market Research 2
• Revise the different
types of market
research
• Understand the
impact of sampling
• Be able to explain
the impact of
market research on
a business

16. List 3 advantages and 3
disadvantages of primary
and then secondary
research

17. Advantages / Disadvantages

18. Advantages / Disadvantages

19. Analysis and Conclusions
• What different type of data are we
collecting? How?
• Do you think your sample represents
year 12 at Chellaston? Why / why
not? What could you do to change
this?

20. Answer the following questions:
How old are you? Why do you come back to
McDonalds?
How many times a week do
you go to McDonalds?
Why do you like
McDonalds?
How long does it take you to
go to McDonalds?
What do you think of the
McDonalds restaurant?
What is your favourite
McDonalds food?
Why is this your favourite
food?
What is your favourite
McDonalds drink?
Why is this your favourite
drink?
Closed Questions = Quantitative Data Open Questions = Qualitative Data

21. Qualitative and Quantitative
Data
Quantitative Data
• Interpreted in a
numerical way
• What price would you
pay?
• What is your favourite
McDonald’s burger /
drink?
Qualitative Data
• Opinions
• Judgments
• Attitudes
• Why likes and dislike
MacDonald’s food

22. Sampling (1)
• What is sampling?
• Why can’t you collect information
from everyone?
• What do you have to think about
when you are deciding how to pick
your sample?

23. Sampling (2)
• What do you have to think about
when you are deciding how to pick
your sample?
• Age
• Gender
• Income….

24. Sampling (3)
• How could you choose your sample?
• Random: each potential member of a
group has a chance of being in the
sample
• Quota: E.G. 50 males targeted
between 20 and 29 years old. Then
move onto next group
• Stratified: random selection within a
sub-group eg 17 to 24 years old

25. Sampling (4)
• What will affect your choice of
sampling methods?
• Finance: how much money do you
have? Do entrepreneurs have a lot of
cash?
• Risk: newer product = greater risk so
more need for research
• Product: new or existing?
• Target Market: clearly defined or not?

26. Watch the clip and then answer the questions on
the worksheet

27. Homework
• Due in: Weds 2nd October => Break time
• Read the Bladonmore case study on pages 30
and 31 and answer questions 1 to 3
• Answer the questions in detail ( at least 2 sides
A4))
• Use your notes and text book to help you
• Use examples from the text
• Define key terms
• Discuss and justify = look at advantages and
disadvantages of your ideas and then conclude
which you think is best
Q1 : 5 marks / Q2 : 10 marks / Q3 : 14 marks

28. How to answer question 3
Structure: new paragraph for each section
• Explain what the company is / what product it
sells / what market it is in
• Define key terms you will use
• What are the long term issues of the situation?
(Time? Money? …)
• What are the short term issues of the situation?
• What are the possible solutions? (types of
research / ….)
• What are the external influences ?(competitors
/ ….)
• Conclusion

29. Market Research 2
• Revise the different
types of market
research
• Understand the
impact of sampling
• Be able to explain
the impact of
market research on
a business

30. Answer the following questions:
How old are you? Why do you come back
to McDonalds?
How many times a
year do you go to
McDonalds?
Why do you like
McDonalds?
How long does it
take you to go to
McDonalds?
What do you think of the
McDonalds restaurant?
What is your
favourite McDonalds
food?
Why is this your favourite
food?
What is your
favourite McDonalds
drink?
Why is this your favourite
drink?