coursework - ro65 - lo2 |
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Mark band 1
Outlines with limited understanding the importance of market research. The description includes a limited range of research methods. Briefly explains the market research tools used and states the advantages and/or disadvantages of each selected market research tool. A basic description of the sampling methods is provided, evidencing a limited understanding. [1 - 2] |
Mark band 2
Describes and demonstrates a good understanding of the importance of market research. The description includes a range of research methods. Explains the market research tools used with relevant descriptions of the advantages and disadvantages of each selected market research tool. The sampling methods are explained, evidencing a sound understanding. [3 - 4] |
Mark band 3
Describes and demonstrates a thorough understanding of the importance of market research. The description includes a wide range of research methods. Provides a detailed explanation of the market research tools used with the advantages and disadvantages of each selected market research tool. The sampling methods are comprehensively explained, evidencing a thorough understanding. [5 - 6] |
Creates market research tools
with limited effectiveness, resulting in completed research outcomes with basic relevance to the objectives. Partly reviews the results to inform decision-making. Collates the results using basic methods to briefly present some outcomes. [1 - 4] |
Creates mostly appropriate
market research tools, resulting in completed research outcomes with clear relevance to the objectives. Effectively reviews the results to inform decision-making. Collates the results using mostly effective methods to present a sound summary of the outcomes. [5 - 8] |
Creates comprehensive,
accurate and fully appropriate market research tools resulting in completed research outcomes that are effective and wholly relevant to the objectives. Thoroughly analyses results to inform decision-making. Collates the results using effective methods in order to comprehensively present the outcomes. [9 - 12] |
LO2 theory
Task 1: In your own words explain the following:
> The meaning of market research, including primary and secondary research
> The pros and cons of primary research giving examples (e.g. surveys, interviews, observations, focus groups, product trials.)
> The pros and cons of secondary research (Government data, internet research, books/newspapers/magazines, purchased research material)
> Explain the meaning of sampling methods giving examples (e.g. random sampling, cluster sampling, quota sampling, convenience sampling)
Task 1: In your own words explain the following:
> The meaning of market research, including primary and secondary research
> The pros and cons of primary research giving examples (e.g. surveys, interviews, observations, focus groups, product trials.)
> The pros and cons of secondary research (Government data, internet research, books/newspapers/magazines, purchased research material)
> Explain the meaning of sampling methods giving examples (e.g. random sampling, cluster sampling, quota sampling, convenience sampling)
LO2 application
Task 2: Undertake market research and results analysis for your product and target market.
> Design and conduct one form of market research, e.g. a survey, ensuring you state which method of sampling you are using to reach your target market (i.e. the group identified in your customer profile). You need to find out about your target markets preferences.
> Analyse the results of your market research, using charts and graphs, to identify key findings from target market (i.e. establish the likes and preferences of your target market.
Task 2: Undertake market research and results analysis for your product and target market.
> Design and conduct one form of market research, e.g. a survey, ensuring you state which method of sampling you are using to reach your target market (i.e. the group identified in your customer profile). You need to find out about your target markets preferences.
> Analyse the results of your market research, using charts and graphs, to identify key findings from target market (i.e. establish the likes and preferences of your target market.