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 transcript:

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

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.

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

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

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

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

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

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