2.2 Market research i |
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Stretch & challenge: Can you list any examples of market research?
Key terms
Market research is refers to the process of businesses gathering information on whether or not their products or services will be bought.
Primary market research, A.K.A. Field research, is data collected first hand.
Secondary market research, A.K.A. Desk research, is the use of data collected by others.
Market research is refers to the process of businesses gathering information on whether or not their products or services will be bought.
Primary market research, A.K.A. Field research, is data collected first hand.
Secondary market research, A.K.A. Desk research, is the use of data collected by others.
Task 2
Watch the video linked opposite and identify which suggestion is primary and which is secondary market research. Stretch & challenge: Is one method better than another? |
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Task 3
Paired task
What market research would you undertake in each of the following scenarios?
Paired task
What market research would you undertake in each of the following scenarios?
E Ad's Kebabs - A small kebab van run by Ad. This is a sole trader and Ad himself is now deep in debt following months of poor sales since starting the business 13 months ago. Ad is maxed out on all credit cards and overdrafts, he has had to give up his flat and is now staying on a friends sofa which is causing issues as bailiffs are searching for him in relation to payment of overdue council tax.
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Plenary
Watch the video opposite and discuss if market research could have benefited the entrepreneur in any way? |