1. M1

2. M1
Create a table that compares Steve’s pink M&M business and a large business of your organisation
You must describe how each business will undertake the following types of market research for each business:
Questionnaires
Field trials
Focus groups
Observations

3. M1 Underneath you need to compare the two businesses
Is one business more likely to use this type of market research compared to the other? Why?
How suitable is it for each business to use questionnaires, field trials, focus groups and observations to obtain the following information:
Pricing
Product
Place (location)

4. Points to Consider
How suitable is the type of market research to collect the information you want?
Is it more or less suitable for the Steve compared to the other business? Why
Make sure you always answer the why
Use words / phrases such as:
On the other hand
Conversely
However
It can be argued that

5. Pricing How much to price the product for Example
Tesco will be less likely to use
questionnaires to find out how much to price
their product compared to Steve’s pink M&M
business because…

6. Product The appearance, taste, size, weight etc of the product.
Example
Field trials are more suitable for Steve and
For Tesco because…
However, Tesco…
Whereas Steve…

7. Place Where to sell your product (e.g. online, shop?) Example
Tesco are more likely to benefit from using
focus groups or secondary research to
identify where to sell their products
compared to Steve, who will most likely find
questionnaires more beneficial because...

8. Paragraph Structure - Example
For Steve, using questionnaires to find out information on price is very suitable because it is cheaper compared to other market research techniques. Tesco on the other hand have more finances to be able to spend on research, and therefore are less likely to use questionnaires to help find out a suitable price for their product. Steve will benefit from using a questionnaire to help him decide how much to price his product because he is planning to open up a business locally. This means that he is able to directly ask the people who live in the area by having a closed question on the questionnaire regarding the price of the product. Conversely, Tesco are more likely to use secondary research to help them price their new product because they have more information already available to them (e.g. previous sales). Tesco also are likely to have similar products in their existing product portfolio, and can therefore use this information, rather than questionnaires.