1. Conducting Start-Up Market Research AQA AS Business Studies

2. Match the statements Explanatory Descriptive Exploratory Predictive Collection of data to allow firms to answer important questions – have targets been met? Are sales rising or falling? How does our performance compare to rivals? Research to find out why things occur. For example does weather affect sales? Why do some promotions work better than others? Why do customers buy the product in question? Research to help identify what may occur in the future. Examples include finding out if a change in price will boost sales revenue or what may happen if a rival enters the market Research in to probable consumer reaction to a completely new product or service idea. For example the probable level of demand or the ideal price level or ways of segmenting the market

3. Match the statements Descriptive Explanatory Predictive Exploratory Collection of data to allow firms to answer important questions – have targets been met? Are sales rising or falling? How does our performance compare to rivals? Research to find out why things occur. For example does weather affect sales? Why do some promotions work better than others? Why do customers buy the product in question? Research to help identify what may occur in the future. Examples include finding out if a change in price will boost sales revenue or what may happen if a rival enters the market Research in to probable consumer reaction to a completely new product or service idea. For example the probable level of demand or the ideal price level or ways of segmenting the market

4. Objectives of this chapter To be able to explain the main purposes of start-up market research To be able to describe in some details the advantages and disadvantages of different methods of market research To be able to explain the different types of sampling methods, and in what situation each would be most suitable

5. How many types of market research can you think of? PrimarySecondary Qualitative Quantitative

6. Why conduct market research?

7. Methods of Primary Research Experiment Observation Focus Groups Personal Interviews Postal Surveys Phone Interviews Internet Surveys Test Marketing

8. Draw up an A4 set of bullets that –Explains the method of primary research –Identifies the advantages and disadvantages

9. Some examples/further reading Test Marketing - http://www.cheaprevolution.com/the_cheap_revolution/2008/07/5- reasons-to-ma.html & http://www.businesshelper.co.uk/test-marketing-case-study-innocent-drinks-41.htm http://www.cheaprevolution.com/the_cheap_revolution/2008/07/5- reasons-to-ma.htmlhttp://www.businesshelper.co.uk/test-marketing-case-study-innocent-drinks-41.htm An example of focus groups - http://www.higgidy.co.uk/film/camilla-and-the-pie-tasters http://www.higgidy.co.uk/film/camilla-and-the-pie-tasters Customer Observation - http://siliconpm.com/2010/06/direct-customer- observation-follow-me-home/ http://siliconpm.com/2010/06/direct-customer- observation-follow-me-home/