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Unit 22 Market Research Assignment 1 Learning Aim A: Examine the types of market research used in business

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This report is for Unit 22 Market Research Assignment 1 Learning Aim A. This work covers all of the criteria required to achieve distinction as well as the correct structure and layout needed to reach these high grades #Criteria covered: P1 Explain the range of market research methods used by a selected business. / M1 Assess, using suitable examples, how different market research methods are appropriate in helping to meet marketing objectives and inform decision making. / D1 Justify the use of using specialist marketing agencies for carrying out original market research.

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Examine the Types of Market Research Used by
Clearwater International
Clearwater is a leading global corporate finance house where they advise
entrepreneurs, corporates, or investors. The business has 17 offices, 250+
employees and operates in and deals with stakeholders from 31 countries. The
business has a great track record of originating, managing, and delivering
clearly defined strategies to help their clients to achieve their objectives and
long-term goals. Clearwater international is a B2B organisation that offers
global corporate finance advise for example entrepreneurs and management
teams who are looking at acquisitions or selling businesses, they search for
buyers or begin vendor discussions, valuing targets objectively. The business
had conducted and taken part in 1600+ transactions. 1
Emma Hughes joined Clearwater international in December 2019 as marketing
manager. She has over 5 years experience in marketing across a variety of sec-
tors specialising in digital marketing. As marketing manager her role is to over-
see the international marketing team who are collectively responsible for mar-
keting activity across the business. She makes sure the team she leads control
the sector publications, email marketing, social media, and website content.
The team are also responsible for PR and internal communication across all
Clearwater international offices.2 On the 10th March 2020 Emma Hughes, Clear-
water marketing manager, came in and talked to us about the market research
methods the business uses.

Market research is the process of analysing the achievability if a product or
new service to do well through research conducted directly with potential cus-
tomers. Market research allows a company to discover the target market and
gather opinions and other feedback from consumers about their interest in
the product or service. This research helps to identify customer needs and
wants, to ensure the business cans satisfy them whilst anticipating the future
needs and wants. Market research usually consists of two types primary and
secondary. Primary research is a type of research that is usually conducted by
the business or an individual themself. Its first-hand data collared for a specific
reason. It involves going directly to the source usually existing or potential cus-
tomers in the target market, where questions are asked in order to gather in-
formation. Examples of primary research are interviews, surveys or focus
groups. The other type of research Is secondary research. Secondary research

1 clearwater international. (2020). About Us. Available:
https://www.clearwaterinternational.com/uk/about. Last accessed 12/03/2020.
2 Emma Hughes. (2019). Emma Hughes. Available: https://www.clearwaterinternation-
al.com/uk/team/emma-hughes. Last accessed 12/03/2020.

, is a type if information that has already been collated, gathered, and pub-
lished by other for another reason. This type of data type includes studies by
the government, trade associations or other businesses in the industry. Most
of secondary research Is available on the web making it a very cheap but
sometimes unreliable research method.

The growth Europe report (GER):
The GER is a report produced by Clearwater international highlighting the af-
fects Brexit will have on businesses. The report talks in depth about the finan-
cial factors, the business performance expectations, impacts, challenges, and
the economy as a result of Brexit. The report was produced on the research of
2100 senior decision makers across 8 major European markets: UK, Republic
of Ireland, Germany, France, Italy, Spain, Portugal, and Denmark.

The main business aim for the business is to “raise and create brand aware-
ness…. Help generate leads and drive website traffic and be used a collateral
for business meetings and events. They want more people to be contacting
them through the business website. This makes it easier for the marketing to
measure the impact of this report through google analytics. Another one of
their aims is to “distribute leadership content to potential clients and profes-
sional contacts to showcase international knowledge”. Clearwater relies some-
what on the word of promotion they receive from other professionals such as
solicitors and investors who are most likely to recommend their business. This
sort of below the line promotion supports growth through highlighting Clear-
water expertise, networks, and market insight without explicitly selling their
business. This is also presented in the last two aims. Where it talks about the
business “demonstrating their expertise through an in-depth research piece
allowing several partners to raise their profile by talking about their findings
through expert knowledge”. This report Ables the business to portray their
abilities to their clients and potential clients and increase word of mouth pro-
motion throughout the industry.

This project had been in the making since June 2019, where Clearwater met
with MRM - a PR agency – in London as part of a planning session. This is
where the business objectives and the plans were written as a report. This
project involved 3 businesses: Clearwater international (CWI), MRM and 3GEM
(Third party research agency). This project was followed through till November
2019 where it was initially supposed to be released. However due to the gen-
eral election and Brexit being postponed the release of the report was
delayed. The report was then released on the 2nd January 2020. From June

Connected book
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Publisher: 2016-12-12 ISBN: 9781292126258 Edition: 1

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