M2-Limitations of Market Research

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Presentation transcript:

M2-Limitations of Market Research D2 Make recommendations to improve the validity of market research

Starter What is market research What are marketing plans How is market research used to help develop marketing plans

Lesson Objectives Explain the limitations of market research used to contribute to the development of marketing plans for Tesco Outcome Carry out some market research to identify the limitations of market research Write up findings of research , explain how these limitations will effect Tesco marketing plans

Task Get into groups of 4 Allocate roles- market researcher, data collector, question designer,sample Read the task Identify what you have to do Prepare market research Carry out research Analyse findings

Questions Using the amrket research you carried out answer the following questions Which brand was most popular Which brand was least popular Which brand was preferred by women Which brand was preferred by people over 20

Findings Were you able to answer all the questions? Which ones weren’t you able to answer? Why

Limitations of Market Research are Reliability of data collected- were the same questions asked of each person, was the sample big enough and reflective of the people who will use/buy the product would the same results be obtained from a different set of people Validity of data collected- does it measure what it claims to measure, is it accurate. Cost effective- are the costs of carrying out the research going to be worth while

Task Write up your findings in the powerpoint What are the limitations of market research What are the limitations for Tesco of using market research to inform it’s marketing plans

Plenary

Starter Think for a minute what is the meaning of the following words Validity is Reliability is Cost effectiveness is The research measure what it is supposed to Estimates the degree to which an instrument measures the same way each time Worth spending the amount to get the information

Lesson Objectives Make recommendations for improving the validity of marketing research used to contribute to the development of marketing plans Outcome Carry out research to find out how to improve the validity and reliability of Market research

Working in groups of 3 to 4 carry out research to find out how the :- Validity Reliability Costs of Market research can be improved Make notes of your findings In a group decide the 3 most important ways for each area then write them on the flip charts

Writing Up Your Research In your power point make recommendations for how Tesco can improve the validity of the market research used in forming market plans.

Plenary Write down 3 things you have learn’t today. 2 things you don’t quite understand 1 thing you will use again