Word Scramble TKARME SCHAREER Use the post-it notes to write down anything you know about this topic

TOPIC:Topic 4: Marketing LESSON TITLE:Market Research LEARNING INTENTION: To understand what market research is. COMPETENCY FOCUS: Creativity: learners will develop skills in creativity and design by firstly looking at how promotion is used in business to help them to reach their goals and secondly, to design their own promotional campaign responding to a creative brief from the client. Reasoning: Learners will develop skills in reasoning as after providing advantages and disadvantages for the use of the promotional mix, you will be required to make a reasoned judgment. [IB Learner Profile Development: Balanced] Success Criteria By the end of the lesson, I can… 1) Define what is marketing research (all) 2) Describe the different methods of primary and secondary research, using examples (most) 3) Explain the difference between qualitative and quantitative research, using examples (most) SMSC: You will assess the organisational culture of businesses in terms of fundamental structure, purpose and strategy development. CRITICAL THINKING KEY: Knowledge Application Analysis Evaluation

Competence levelDescriptor Autonomous I can delve deeper into what research methods exist in which a company can use to help market a product/service. I will then question the viability of each method and make my own reasoned judgements as to which is the most suitable and more accurate methods that a business should use. I will then apply these to my focus organisation and question the research methods that they have implemented. Advanced I can differentiate between the terms primary and secondary research and I can identify at least 10 different ways of collecting research under these categories. I am now starting to question how successful each one might be in helping an organisation to market a product. Strong I can differentiate between the terms primary and secondary research and I can identify at least 10 different ways of collecting research under these categories. RegularI can recognise at least 6 different ways of collecting research. GuidedI can recognise at least 3 different ways of collecting research. I understand the different ways research can be collected and what the moral and ethical implications are when collecting and storing data:

Starter

What I Have Found Out… How many people prefer my brand of chocolate (sales predictions) How many people prefer the brand compared to the competition (determine market share)

What I Have Found Out… Who my potential customers are (age/gender) Strengths & weaknesses of competitor products (product/price/packaging) Know what you think about my product compared to other brands (quality) Know what value you place on my product (value for money)

Market Research is …

Market Research… Gathering, recording and analysis of data about a particular target market, competition and/or environment. Marketing is all about responding to customers’ wants/needs. Market research is about finding out what those needs/wants are!

Marketing Research… Marketing research is the analysis of marketing strategies such as how effective advertising has been or a particular promotion. In other words, finding out how successful marketing campaigns have been!

Scenario The iPad 3 is due to be launched in Apple have joined forces with Microsoft to now offer Microsoft packages included in the product. The new launch is expected to cost £1m therefore they need to get it right! How will the company know who to target this product at?

Your Task! In pairs, work through the ‘market research challenge’ sheet and then produce a marketing research strategy for the company. You will present this to the rest of the class..

What type of learner are you?Talking with others Autonomous I can show a sophisticated understanding of complex ideas. I can use questioning to challenge or lead discussions. I can reflect and summarise key points within group discussions. Advanced I can contribute effectively to the group task and can confidently steer the discussions to explore all angles. Strong I can discuss or question ideas within the group or bring up issues or concerns. I can suggest new ways of doing things. Regular I can identify and take on a different role to contribute to the group i.e. leader. Guided I can introduce new ideas or perspectives. I can confidently talk about the task with other group members.

Peer-assessment Copy the grid in to your books… GROUP NAMEWWWEBI

LO1) Primary Research Primary Research (field research): Data/info that has been gathered first-hand. This is information that did not exist before the research began. Methods include: questionnaires, postal surveys, telephone surveys, online surveys, telephone interviews, focus groups, test marketing

LO1) Secondary Research Secondary Research (desk research): Data that is already in existence in some form and has been produced by someone else. Internal- sales figures, existing market research reports, annual reports & accounts. External-Competitor info I.e. brochures, books, journals, newspapers, marketing journals, websites, census data, public records.

LO2) Qualitative Vs Quantitative Quantitative: Information/data that you can measure (statistical data) such as “how many cans of lemonade do you buy each week?” Qualitative: Information about peoples’ attitudes, beliefs, feelings and opinions. E.g. “What do you think of pepperoni pizza?”

LO3) Advantages & Limitations ADVANTAGESLIMITATIONS Finding out what customer’s want/need and developing a product/service to match that needs reduces the risk of product failure! Relying on people’s opinions (human behaviour) that can change over time (or as fashions change!). Businesses are not just relying on guesswork. Costly (might have to employ a market research agency to collect the primary research on your behalf). Measure effectiveness over time.Time-consuming! Measure success of a marketing/promotional campaign. Reliability? Validity (how accurate is your data?) Sampling and bias (can not ask the whole population!!!)

Self-assessment What type of learner am I? Re-visit competency ladder and assess progress. At the end of the lesson, I am a ………………….. learner because I have……………………

Key Terms Market ResearchMarketing Research Primary ResearchSecondary Research Qualitative Research Quantitative Research Validity