P3/M2 Plan market research. Aim of research  What are you intending to find out?

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Presentation transcript:

P3/M2 Plan market research

Aim of research  What are you intending to find out?

Purpose of Research  Understand customer behaviour  Buying patterns  Preferences  Sales trends  Brand awareness  PESTLE  Product development success  New product opportunities

Primary Research  Questionnaire  Interviews  Survey  Focus Groups

Secondary Research  Internet Research  Newspaper/ magazines/ trade journals  Government census data.  MINTEL reports

Market research  You will need to choose 2 methods of primary and 2 methods of secondary research.  You must justify your choices;  I have chosen a questionnaire because…..

Timescale  Decide upon the timescale that you will do your research by. Primary 1 Secondary 2 Primary 2 Secondary

Sampling Techniques  How will you decide who participates in your research?  Snowballing method  Random Sampling  Systematic Sampling  Multi- Stage Sampling  Stratified Sampling.