1. AO2
Understand a market analysis and complete market research for the selected product or service.

2. Market Analysis
This AO is based on a new product or service proposed by the candidate or a complete re-launch or an existing product or service. (gaming related) The product will come from a business’s portfolio ie Cadbury’s dairy milk is one of a range of products BUT YOU MUST NOT reiterate Cadburys Marketing Mix.
Market Analysis involves examining the current state of the market and analysing the position and the performance of the business and its products within that market. (research homework)
Detailed analysis will form the basis of a future Marketing Strategy.

3. Market Analysis – SWOT and PEST

4. SWOT ANALYSIS
A useful business tool which is used to help form part of the analysis.
S trengths – the advantages the business has over its rivals(high quality product, low prices, history etc)
W eaknesses-the disadvantages (image, reputation, profitability etc)
O pportunities-situations to take advantage of
T hreats – factors that can damage the performance of the business

5. What’s happened to Microsoft Gaming?
Research it’s performance since 2005 and complete a SWOT analysis on the company

6. PEST ANALYSIS
A useful tool for analysing the EXTERNAL forces that act upon the business.
Businesses need to be aware of the changing market trends and of the political and economic climate.
P olitical- changes in government and changes in laws
E conomic- growth/recession, interest rates, inflation
S ocial – consumer tastes, fashion and habits change.
T echnolological- changes in this threaten some businesses and create opportunities for others.

7. Complete a PEST analysis for Microsoft gaming.

8. Market Segmentation
Markets can be broken down into smaller sub-sections called SEGMENTS as ways of analysing Customers and their behaviour.
Sub-sections:
Gender
Socio-economic group
Age
Frequency of use
Lifestyle
Geography

9. Activity
Research, copy and explain the National Readership Survey ( NRS )social grading and how it is used.

10. Activity
Outline some of the likely customer characteristics for the following products:
1. a 4 blade razor
2.disposible nappies
3.yacht insurance
4.skateboard
5.a tanning salon
6.legoland at Windsor
7.a hearing aid
8.ceramic hair straightners

11. Consumer Targeting
Informing POTENTIAL customers about products and persuading them to but them, is vital for the success of any business, in competitive markets.
If a business can develop an accurate picture or who buys the products or service and a CUSTOMER PROFILE, it can create a MARKETING MIX.
The whole industry exists to compile data on consumer spending habits, preferences and trends which is known as Marketing Intelligence.
Retailers’ Loyalty cards provide businesses with a wealth of information, so that they can target customers appropriately.

12. The Target Group Index
Market Research companies such as Target Group Index(TGI) provide market research surveys.
Questionnaires are sent to thousands of households in the UK and the results are used to compile reports on markets, spending patterns, attitudes and consumer profiles.
Other companies that do the same thing are Keynotes and Mintel.

13. Activity
Research one of the market research companies, and provide a snapshot (write a page) of recent activity within a market of your choice. (Gaming market)

14. ACORN A Classification Of Residential Neighbourhoods.
Another useful marketing tool, build upon the principle that similar people live in similar neighbourhoods and will tend to have similar purchasing and lifestyle habits.
Postcodes can reveal valuable market research data
A company selling Jaguar cars will purchase postcodes from the Royal Mail that fall into the category of a typical house for their typical type of customers. They can then target these houses with product details etc

15. Define the product or service
Brain storm a definition for the key words above
Apply this to your organisation. What products and services do they provide.

16. Market Research What is it and why is it needed?
It is the process for identifying what products and services customers want and how much they are prepared to pay for them.
Also identifies gaps in the market and the success of recent campaigns.
Categorised as Primary or Secondary
Numerical based data is known as Quantitative data and opinions and views is known as Qualitative data.

17. Sources of Market Research - Secondary
This is data that has already been published
It can include information such as past sales, seasonal trends, average consumer spending etc
Internally held data is sometimes called BACKDATA
Back data is cheap and easy to obtain and is not available to competitors.
External Secondary Data can include Government Statistics, industry surveys, reports by pressure groups and press articles which provide information about the market.

18. Sources of Research- Primary
This involves gathering information about customer behaviour and market trends for the first time.
The process can be time consuming and expensive
It can provide up-to-date information however.
It can be carried out by a specialist organisation or by the company itself.
Examples include, observations, (telephone or personal) interviews, postal surveys, consumer panels and focus groups.

19. Activity
Make a spider diagram summarising the advantages and disadvantages for each of the methods discussed.

20. Questionnaire Design
This is a structured series of questions and is a valuable tool for market researchers.
CONSIDERABLE THOUGHT MUST BE GIVEN TO THE DESIGN OF THE QUESTIONNAIRE and WHAT INFORMATION IS NEEDED.
QUESTIONS MUST BE CLEAR AND UNAMBIGIOUS
Questionnaire will be made up of Closed Questions (yes/No), and OPEN Questions, with multi choice answers.
All questionnaire should be tested first on a small sample of people to ensure it works.

21. Sample Sizes
If a business operates in the Mass Market, it will not have the time or resources to interview all of its customers.
A company will select a sample of its customers/potential customers
The group that the sample is selected from is known as the POPULATION.
The bigger the sample, the more representative it is of the total population.

22. Sampling Random Stratified Quota ACTIVITY
Research and make notes on these terms.

23. Findings – Graphical and Written Presentation
Once the questionnaire has been carried out, it must be analysed to compile DATA and present information in the form of graphs and a report.

24. Your Task
Understand a market analysis and complete market research for the selected product or service.
Complete a SWOT and PEST for your product/service
Decide on the Product you want to remodel the Marketing Mix for.
Find some Secondary Research to help support your proposals/idea (a min of 5 pieces)
Create your questionnaire as part of your primary research to help support your idea
Carry out at least 1 other form of research to help you make your proposed changes to the marketing Mix

25. Your Task Test your questionnaire to make sure it works
Carry our your questionnaire on a proposed SAMPLE, explaining your sampling method and why you used it.
Analyse your results numerically into %s
Decide on the most appropriate to turn into graphs
Write up your findings