The Role of market research To identify what the consumers’ needs are and then try to meet them. Firms carry out market research If businesses fail to.

Slides:

Advertisements

Similar presentations

Market research THE TIMES 100.

Advertisements

Theory on Market Research For Lesson 2. Market Research  Is finding out what your customers want from a businesses new product or service.  They do.

BSBMKG506B Plan market research Session 1

ROLE AND IMPORTANCE OF MARKET RESEARCH  Process of collecting and analyzing data for a good/service in a market  Analyzing consumer reaction to eg.

Using Market Research. Seeing the Problem Clearly Marketing Research: procedure designed to identify solutions to a specific marketing problem through.

Starting a Business Conducting Start-up Market Research

Starting a Business Conducting Start-up Market Research METHODS OF PRIMARY AND SECONDARY MARKET RESEARCH QUALITATIVE AND QUANTITATIVE RESEARCH SIZE AND.

Market Research. Market Research – What is it? Gathering information on (for example)… …finding new markets …evaluating public opinion …gaining insight.

Marketing Research.

Marketing Research – Collecting Data

WHAT IS RESEARCH? BY TROY MARTEN Research is a creative way of finding out anything and everything. Everyone has researched something in their life no.

MANAGEMENT OF MARKETING

Market Research Introduction. What is market research?

Market Research Sampling & reliability Aims: To recap intro to Market research – market research methods, qualitative & quantitative methods. To understand.

Today you will know what market research is.

Market Analysis.

3.2.1 The role of Market Research and Methods Used:

AQA GCSE Business Studies

Understanding Customer Needs

Marketing Research.

Level 1 Business Studies AS90837 Demonstrate an understanding of internal factors of a small business.

For use only with Perreault and McCarthy texts. © The McGraw-Hill Companies, Inc., 1999 Irwin/McGraw-Hill Chapter 8: Improving Decisions with Marketing.

Marketing Objectives Increase sales revenue Increase / maintain market share Improve image of company Target a new segment of the market.

1 Market Research Objectives Identifying customer needs Identifying markets Trends and fashions Changes in markets Market and product development opportunities.

Nqbm marketingJW & EC Jan The systematic gathering, recording and analysing of data about an organisation’s products and services and its target.

1.1.2 Market research - syllabus

Market Research. A.K.A…… Primary research can also be known as FIELD research Secondary research can also be known as DESK research.

3.4 How do businesses operate1 Unit 4.3 What Aids Decision Making?

For use only with Perreault and McCarthy texts. © The McGraw-Hill Companies, Inc., 2000 Irwin/McGraw-Hill Chapter 7: Improving Decisions with Marketing.

4.4 Marketing Research.

CHAPTER EIGHT Improving Decisions with Marketing Information

Fashion MARKETING TID1131. Market Research Understanding Secondary & Primary research Understanding Quantitative & Qualitative research.

4.12 & 4.13 UNDERSTAND MARKETING-RESEARCH DESIGN CONSIDERATIONS TO EVALUATE THEIR APPROPRIATENESS FOR THE RESEARCH PROBLEM/ISSUE.

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

3.2.1 U NDERSTANDING MARKETS AND CUSTOMERS – M ARKET RESEARCH AQA Business 3 D ECISION MAKING TO IMPROVE MARKETING PERFORMANCE How would you try to discover.

Level 1 Business Studies AS90837 Demonstrate an understanding of internal factors of a small business.

Market Research Market Research – What is it? Gathering information on (for example)… …finding new markets …evaluating public opinion …gaining insight.

Alfie and jay. 4 key words used Objective- not influenced by personal feelings or opinions in considering and representing fact Subjective-existing in.

Sports Market Research. Know Your Customer How do businesses know their customers needs and wants?  Ask them/talking to customers  Surveys  Questionnaires.

1 Market Research 1. Purpose of market research Market research is carried out to: Help firms make marketing decisions Reduce risk Data may be gathered.

Market research THE TIMES 100. Market research Market research is the process of gathering and interpreting data about customers and competitors within.

Business and Communication Systems MARKET RESEARCH GCSE Business and Communication Systems.

Market Research. Market Research Types: Primary Secondary –Internal and External Quantitative –Group and In-depth Qualitative –Random sampling, Quota.

Edexcel GCSE Business Studies © Pearson Education 2009 Chapter 2 Key terms Reveal the key term by clicking the forward arrow on your keyboard. Customer.

Starter – read the following and answer the question below: What is Marketing? Developing products that customers want to buy Understanding the needs of.

Research Types Research Types Market Developement Ideas of Market Research Ideas of Market Research

Starter – read the following and answer the question below: What is Marketing? Developing products that customers want to buy Understanding the needs of.

Market Research GCSE Business Studies. Definitions Marketing Marketing is the management process responsible for identifying, anticipating and satisfying.

1 Market research. 2 Market research is the process of gathering and interpreting data about customers and competitors within a firm’s target market.

M ARKET R ESEARCH Topic 3.1. W HAT IS MARKET RESEARCH ? The process of gaining information about customers, products, competitors etc through the collection.

Types of research Julie Richards. Research Types of research Application Objectives Types of information sought Source of data Applied Pure Descriptive.

Understanding Customer Needs. Why understand customers? Because they are all different.

Market research THE TIMES 100. Market research Market research is the process of gathering and interpreting data about customers and competitors within.

Market research. Market research is the process of gathering and interpreting data about customers and competitors within an organisation’s target market.

Market Research.

Learning objectives.

Market research THE TIMES 100.

Data Collection Techniques

Understanding Customer Needs

Market Research.

Market Research.

Investigating business

IB Business Management

MARKET RESEARCH Can you identify 3 types of market research?

Market Research Firms need market research to determine whether a product is likely to be successful before they launch it and also the potential current.

Year 10 Business Unit 1: Introduction to Small Business

Market Research.

Market Research Chapter 4.4 IB Business.

Stakeholders and Marketing

L1 - Market Research introduction

Presentation transcript:

The Role of market research To identify what the consumers’ needs are and then try to meet them. Firms carry out market research If businesses fail to ask customers what they want, they risk producing products consumers do not want. There research can reduce chance of failure

Types of market research 1. Primary research (field) 2. Secondary research (desk)

Which type of research to use? Depends on: 1. How much money you have 2. How quickly you need information 3. How specific it needs to be

PRIMARY RESEARCHSECONDARY RESEARCH METHODS Surveys Interviews Focus groups Consumer panels Observation Product sampling Text books Government publications Newspapers Internet Other company information ADVANTAGESYour competitors do not have this information Is specific to your requirements Is relatively inexpensive Is available at short notice DISADVANTAGESCan be extremely time consuming Might not be able to find the specific information you need Is the most expensive of the two methods Information may be out of date or inaccurate

Qualitative and Quantitative Qualitative data is all about people thoughts and opinions (eg comments from a focus group) Quantitative data is more scientific data – data that you can show numerically. For example results from a questionnaire (percentages)