Starter - Big Business facts  £1 in every £8 a British customer spends in shops is spent in Tesco  Today, Tesco is the UK’s largest retailer Beauchamps High School

GCSE Business Studies Lesson 2 - Understanding Customer Needs Beauchamps High School

Big Business facts  Tesco gives its shoppers:  What they want  At the right price  At the right time  Tesco are meeting their customer needs Beauchamps High School

Will be able to evaluate the usefulness of market research Evaluation ~ GCSE Grade A* Will be able to propose advantages and disadvantages of market research Synthesis ~ GCSE Grade A Will be able to analyse the reasons for conducting market research Analysis ~ GCSE Grade B Will be able to demonstrate understanding by using examples/cases Application ~ GCSE Grade C Will be able to explain the different types of market research Comprehension ~ GCSE Grade D Will be able to recall key terms customer needs and market research Knowledge ~ GCSE Grade E

Homework reminder– due lesson 3 (that’s next lesson)  Find out if you are able to get information on a small business  Family/friends run  Can be local Beauchamps High School

Customer Needs Beauchamps High School Theory Notes The wants and desires of buyers of a product or the customers of a business

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Customer needs  Discussion: answer the following questions:  How do you know what your customer want?  What can you do to find out if you are meeting customer needs? Beauchamps High School

Market Research Beauchamps High School Theory Notes The process of gaining information about customers, competitors and market trends through collecting primary and secondary data

Primary Research (Field Research)  Collecting new information which has not been collected before  Surveys – research involving asking questions  Focus Groups – group of people brought together to answer question/discuss a product  Observation – looking and recording how people behave Beauchamps High School Theory Notes

Task  WhatIsMarketing/PrimaryResearchDragDrop/frame.htm WhatIsMarketing/PrimaryResearchDragDrop/frame.htm Beauchamps High School

Secondary Research (Desk Research)  Gathering information that has already been collected  Internet  Newspapers  Market reports  Government Statistics Beauchamps High School Theory Notes

Types of Data  Qualitative Data  Information about opinions, judgements and attitudes  Quantitative Data  Data that can be expressed as numbers and statistically analysed Beauchamps High School Theory Notes

Task Beauchamps High School

Task  Complete the tables below:  Primary Research  Secondary Research Beauchamps High School AdvantagesDisadvantages AdvantagesDisadvantages

Task feedback  Primary Research  Secondary Research Beauchamps High School AdvantagesDisadvantages Get the information you wantIt’s expensive Information is up to dateTakes longer to obtain Competitors won’t have the information Difficult to obtain AdvantagesDisadvantages Information is already availableInformation may be out of date It is cheapData can be difficult to make sense of Can find out what competitors are doing Information may not be relevant

Plenary task  Pick on of the situations opposite and explain: 1. Which method of market research you would use 2. If you would be gathering qualitative or quantitative date 3. The pros and cons of this method Stretch & Challenge: Which other method do you think would be second best?  A supermarkets wishing to know the numbers of customers who looked at products on a given aisle  A soft drinks manufacturer who is interested in the views of customers on the taste of a new product  A petrol retailer looking for a busy areas to locate its next station Beauchamps High School

Will be able to evaluate the usefulness of market research Evaluation ~ GCSE Grade A* Will be able to propose advantages and disadvantages of market research Synthesis ~ GCSE Grade A Will be able to analyse the reasons for conducting market research Analysis ~ GCSE Grade B Will be able to demonstrate understanding by using examples/cases Application ~ GCSE Grade C Will be able to explain the different types of market research Comprehension ~ GCSE Grade D Will be able to recall key terms customer needs and market research Knowledge ~ GCSE Grade E