1. Taylor Imran Jack Nasir Lidia Joe Harry Trish Radu Asil Ria
Brijesh
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Charlotte
Shuyeb
Nasir
Lidia
Joe
Bonnie-Marie
Jahangir
Mason
Anthony
Harry
Rabbab
Maruf
Balween
Trish
Bareera
Rahat
Radu
Shamar
Aadhithya
UPDATE THIS
Bareera
Asil
Aditya
Ria
TEACHERS DESK
Nice
Yassir
Door
IT03
Board

2. 1.1.2 Understanding customer needs
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GCSE Business
1.1.2 Understanding customer needs

3. Start of lesson drills Planner on the desk Pen/stationary available
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Start of lesson drills
Planner on the desk
Pen/stationary available
Exercise book on the desk
Homework out (if set)
Date and title copied from the board
Ready to learn
Reminder

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Expectations
Be in the right place, at the right time doing the right thing:
Be respectful of others and allow them to learn
Complete all homework tasks set and come to me if you have any problems completing it
Respect all school equipment
Bring the correct equipment (pens, books etc.) to our class
Act as respectable young adults like business individuals
Reminder

5. Understanding customer needs
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Understanding customer needs
By end of the lesson, you should be able to:
Describe the difference between Qualitative and Quantitative research
Explain the purpose and different methods of market research

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7. What is market research?
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What is market research?
Market Research is the process of gaining information about customers, competitors and market trends through collecting primary and secondary data.
Market research is all about finding out what your customers want.
Market research finds out what your customers like, how much they want to pay for their food and where they want to buy their sandwiches from.

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Primary Research

9. What is primary research?
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What is primary research?
Primary research is carried out by your own business.
No one else has done this for you!
Primary Research
First hand information
Expensive to collect, analyse and evaluate the data
Can be highly focussed and relevant
Care needs to be taken with the approach and methodology to ensure accuracy
Types of question – closed – limited information gained; open – useful information but difficult to analyse

10. Testing and observation Questionnaires
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Testing and observation
Questionnaires
Telephone interviews

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Primary research game

12. Secondary/Desk research
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Secondary/Desk research

13. Retail data - loyalty cards, till data, etc. Magazines Newspapers
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Secondary Research
Secondary research is also called Desk research. It is about looking at information that has already been collected about the market by other companies and which you can use to help to run your business successfully.
Company Accounts
Retail data - loyalty cards, till data, etc.
Magazines
Newspapers

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Quick recap..
What is the difference between primary and secondary research?
Provide 2 examples for each type of research.

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Make notes during the video on difference between Primary and secondary research
Primary
Secondary

16. Quantitative and Qualitative Information:
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Quantitative and Qualitative Information:
Quantitative – based on numbers – “49% of young people in England are likely to enter higher education, according to the latest official estimates” – doesn’t tell you why, when, how
Qualitative – more detail – tells you why, when and how!

17. Direct customer contact
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Direct customer contact
Clubcard

18. What is the purpose of market research?
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What is the purpose of market research?

19. Think, pair, share 8 minutes Think and write down the following:
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Think, pair, share
Think and write down the following:
What are the advantages of market research?
What are the disadvantages of market research?
Then, when I tell you, discuss in pairs
8 minutes

20. What are the advantages of market research?
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What are the advantages of market research?
Helps focus attention on objectives
Aids forecasting, planning and strategic development
May help to reduce risk of new product development
Communicates image, vision, etc.
Globalisation makes market information valuable (HSBC adverts!!)

21. What are the disadvantages?
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What are the disadvantages?
Information only as good as the methodology used
Can be inaccurate or unreliable
Results may not be what the business wants to hear!
May stifle initiative and ‘gut feeling’
Always a problem that we may never know enough to be sure!

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Homework
None today. The main homework will be set weekly on a Wednesday