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Market Research and Planning Unit 3- Introduction to Marketing Assignment 2.

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1 Market Research and Planning Unit 3- Introduction to Marketing Assignment 2

2 What you Need to Know Types of Research – Primary – Secondary Analyses of Data – Qualitative – Quantitative Planning Tools – Swot/pestle – Boston matrix – Ansoffs matrix – SMART objectives Marketing Strategy – – 4 P’s

3 Lesson Objectives Identify types and methods of market research Analyse use of each method for a specific purpose Evaluate effectiveness of each method

4 Questionnaire, Observation, research for preparation and writing of a report, collecting figures/data People who will /already buy your product Research which is subjective- designed to gather people views. Produces a wide range of answers. Uses Open Questions Research which relates to numbers and figures can be analysed mathematically. Can provide a range of answers for person to choose from Internet, books, journals, company reports, newspapers, census data, existing market research The number and type of people you ask for information Can be Random or Quota Finding out what the customer wants, when they want it and how much they will pay for it Market research Target market Methods of primary research Methods of Secondary research Sample Qualitative Quantitative Key words Market Research

5 Questionnaire, Observation, research for preparation and writing of a report, collecting figures/data Methods of primary research Research which relates to numbers and figures can be analysed mathematically. Can provide a range of answers for person to choose from Research which relates to numbers and figures can be analysed mathematically. Can provide a range of answers for person to choose from Quantitative Research which is subjective- designed to gather people views. Produces a wide range of answers. Uses Open Questions Research which is subjective- designed to gather people views. Produces a wide range of answers. Uses Open Questions Qualitative People who will /already buy your product Target market Internet, books, journals, company reports, newspapers, census data, existing market resear ch Internet, books, journals, company reports, newspapers, census data, existing market resear ch Methods of Secondary research The number and type of people you ask for information Can be Random or Quota Can be Random or Quota Sample Finding out what the customer wants, when they want it and how much they will pay for it Finding out what the customer wants, when they want it and how much they will pay for it Market research Key words Market Research

6 Task 2-40 mins Goto U:\Business Studies\Students\BTEC Level 3 Sept 2010 onwards\Unit 3 Introduction to Marketing\Assignment 2 What is market research all about Save into your area Read through worksheet and answer the questions

7 Task What do you already know? Working in 3’s discuss and complete worksheet on Market research.

8 Task Prepare a presentation describing how marketing research is used to create and develop marketing plans for your chosen organisation For Marketing research you must include reference to the following terms:- qualitative; quantitative; primary and secondary internal/external research; their uses (i.e reduce risk in decision making, measure progress over time); and limitations (cost effectiveness, validity of data collected For Marketing planning you must include: marketing planning process models of:- PESTLE (political, economic, social, technological, legal and environmental external factors); SWOT (internal strengths and weaknesses, external opportunities and threats); The setting of SMART (specific, measurable, achievable, resourced, time-bound) objectives; and how these determine strategy and tactics, help implement changes; and evaluate progress

9 What do you need to do Prepare a presentation describing how marketing research is used to create and develop marketing plans for your chosen organisation Describe Market research – What it is, types, formats, purpose Describe how Tescos use market research to develop market plans – Identify what market plans are – Identify how Tesco’s carry out market research – Methods/types/purpose Prepare a presentation

10 Starter Market Planning What is it? How is it done Why is it done

11 Lesson Objectives-l2 P3 identify and describe how a selected organisation uses marketing research to contribute to the development of its marketing plans M2 explain the limitations of marketing research used to contribute to the development of a selected organisation’s marketing plans D2 evaluate the validity of the market research methods of a selected organisation and make justified recommendations for improving the validity of the marketing research used to contribute to the development of a selected organisation’s marketing plans

12 Tools Used to Decide The marketing Plan PESTLE SWOT SMART target Working on your own complete the work sheet And say what each letter stands for What it is used for How it informs Market planning

13 Consolidate Pestle SWOT SMART 4P’s

14 Next Step Complete the power point template By finding out what TESCO’s Marketing strategy is What are it’s aims What are it’s objective's How is it planned How market research is used to inform planning Read the title of the PPT to identify what to write about and the red notes to identify what theory you need to find out about and how Tesco interprets and applies it

15 By 10-50am Some: Complete 16 Most: Complete Slide 15 All: Complete Slide P3describe how a selected organisation uses marketing research to contribute to the development of its marketing plans

16 By am Some: Complete slide 16 hand in work get feedback Most: Complete Slide 16 proof read and improve All: Complete Slide upto slide 16 P3describe how a selected organisation uses marketing research to contribute to the development of its marketing plans M2 explain the limitations of marketing research used to contribute to the development of a selected organisation’s marketing plans

17 By Some: Complete upto slide 11 Most: Complete Slide upto slide 9 All: Complete Slide upto slide 7 P3describe how a selected organisation uses marketing research to contribute to the development of its marketing plans M2 explain the limitations of marketing research used to contribute to the development of a selected organisation’s marketing plans D2 make justified recommendations for improving the validity of the marketing research used to contribute to the development of a selected organisation’s marketing plans


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