Market Research
A.K.A……
• Primary research can also be known as FIELD research
• Secondary research can also be known as DESK research
Remember …
The entrepreneur can learn much about customers needs
simply by chatting to customers, rather than
buying expensive market research
Direct Customer Contact• This is very important
for a business.• Customers can provide
vital information for a business
• Direct customer contact will help understand the market and how it is changing
Interpreting Data
By analysing data collected it can help answer some questions:
• What does it all mean?• Was it important?• What does different data tell you?• Will the business be successful?• Is starting up a business a risk?
Case Study…..
Fabulous Cakes
1. Read the Case Study2. Answer ALL 3 questions3. Use information in the case study for your answer
Fabulous Cakes
Question 1
• Give a definition of “primary research” (2 marks)
• Explain in a sentence, one method of primary research used by Grace and Peter (2 marks)
• Explain in a sentence, a second method of primary research used by Grace and Peter (2 marks)
Fabulous Cakes
Question 2
• Give a definition of “secondary research” (2 marks)
• Explain in a sentence, one method of primary research used by Grace and Peter (2 marks)
• Explain in a sentence, a second method of primary research used by Grace and Peter (2 marks)
Fabulous Cakes
Question 3
• Give your opinion: eg “I think/do not think Grace & Peter do have a good understanding of their customer needs because …………..” (2 marks)
• Justify your decision – explain TWO different types of research that Grace & Peter did that helped them find out what their customers wanted/liked/disliked when they bought cakes (4 marks)
Chris wants to set up a business fitting kitchens and looks in the Yellow Pages to see what other businesses offer similar service in his area. This is an example of what type of research?
A – QualitativeB – PrimaryC – SecondaryD - Observation
Chris wants to set up a business fitting kitchens and looks in the Yellow Pages to see what other businesses offer similar service in his area. This is an example of what type of research?
C – Secondary
Chris designs a questionnaire and asks the respondents to tick, from a list, which colour kitchens they prefer. This is an example of what type of research?
A – QualitativeB – SecondaryC – QuantitativeD - Observation
Chris designs a questionnaire and asks the respondents to tick, from a list, which colour kitchens they prefer. This is an example of what type of research?
C – Quantitative
Which TWO of the following are most likely to give a researcher qualitative data?
A – The meeting of a focus groupB – Researching names of businesses in an area
from a telephone directoryC – Conducting interviews with shoppers in a
supermarketD – Analysing government statistics
Which TWO of the following are most likely to give a researcher qualitative data?
A – The meeting of a focus group
C – Conducting interviews with shoppers in a supermarket