3.5.3 Purpose and methods of Market Research
Purpose of market research
Collect information about:
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Methods of market research to include primary and secondary:
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Use of market research: information that may help decision making
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You should understand why businesses conduct market research, such as to identify market opportunities and to get a better insight into their customers and competitors.
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You should understand the difference between qualitative and quantitative market research.
You should identify the benefits and drawbacks for various market research techniques and select the best method for a given business. |
You should be able to interpret and use qualitative and quantitative market research findings to help make appropriate decisions for different types of business.
You will be expected to manipulate and interpret data from tables and charts. You should be able to identify market size and market share. |
BBC Bitesize Market Research (video) - BBC Bitesize Market Research - Tutor2U Market Research
Tutor2U Quantitative & Qualitative - Quiz on Quantitative and Qualitative - Re-cap quiz on Market Research - Kellogg's crunchy nut
Market Research Hangman - Revision video on calculations
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