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Market Research What is market research? Why do businesses carry out market research? What different types of market research are there? What types of.

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Presentation on theme: "Market Research What is market research? Why do businesses carry out market research? What different types of market research are there? What types of."— Presentation transcript:

1 Market Research What is market research? Why do businesses carry out market research? What different types of market research are there? What types of market research should I use? Discuss

2 1 min 2 min3 min Starts on click. Quick activity You have 3 minutes to find out which flavour of crisps is the class favourite and which the least.

3 Which were the favourite and least favourite flavours? How did you find this out? How could you display your results? Findings

4 Businesses that want to survive and succeed need to keep in touch with their customer’s needs and wants. Why carry out market research?

5 Primary Research Methods of research Current First hand Observation Focus Group Questionnaire

6 Secondary Research Methods of research Second hand Government statistics - Census On-line, journals, media Business reports and sale records

7 You will be creating a drink that is both healthy and tasty. Before deciding on your final product you will need to complete market research. Begin by completing a table to show your competitors – see the example which looks at Chocolate bars Task

8 Secondary research - Competitor analysis BountyCrème Egg Product Coconut covered in chocolate Variety of sizes available Chocolate in the shape of an egg with a thick milk chocolate shell, and a white and yellow fondant filling Price Regular size 60pRegular size 50p Place All confectionary shops and supermarkets, nationwide Promotion TV advertising Corporate image – Caribbean. “Taste of Paradise” TV advertising, Program sponsorship, Mainly sold at Easter time “How do you eat yours” People Both genders, all ages, nationwide


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