Name: Eric Asare
Assignment and task: 2 Unit 3 p3
Teachers name: Charles Musana
Class: 1G
What is market research?
Market research means systematically gathering, recording and analysing market
data.
Why businesses carry out market research?
The importance of market research in understanding customers
Marketing research is important to customers because it allows customers to
give the ideas or opinions of what business should do to gain more customers.
This is usually done through focus groups, surveys and questionnaires.
The importance of market research in understanding competitors
Marketing research is to competitors because a good evaluation tool that can be
of great use in comparative studies. This allows business track other company's
progress as well as the growth other competitors, by keeping an eye on the
competitors. The business can create business strategies that would keep them
ahead of the competitors.
The importance of market research in understanding the market
environment
The market research is important to the environment surrounding because of the
political, social and economic factors around businesses. For example if there is a
recession then people might not be able to afford the products.
What is primary research?
Primary research is when is carried out marketing team of the businesses go 'into
the field' (e.g. house-to-house or street surveys) to find out new/updates
information effecting the business.
4 primary research methods
Questionnaires
Surveys
Focus groups
Customer interviews
What is secondary research?
Secondary research is using information that’s been collected which is reviews
others searches found out that already exists information method.
4 secondary researches
Company back data
Bank of England report
Benchmark data
, Name: Eric Asare
Assignment and task: 2 Unit 3 p3
Teachers name: Charles Musana
Class: 1G
Information on the internet
What is qualitative and quantitive research is and how
they differ
Quantitative research: is collecting information from a broad population
sample e.g. by conducting questionnaires, this is used when Coca Cola GB wants
to gauge appeal across a wide audience.
Qualitative research: is working with small 'focus' groups. This involves far
more detailed investigations, e.g. gathering a small group of mostly consumers
to test products or to talk about their opinions and experiences of using different
products. Qualitative research, even though it’s not representative of the views
of the general population it provides greater insight into 'why' people think what
they think.
The difference between qualitative research and quantitative research is that
qualitative research is primarily exploratory research whereas quantitative
Research is used to quantify the problem by way of generating numerical data or
data that can be transformed into useable statistics.
Type of research Type of data What coca cola do How the research
informs their
development
plans
primary qualitative and Questionnaire- They can use this
quantitive get views and data to make a
opinions of people future changes
favourite flavour and
of Coca cola improvements
primary qualitative Focus group- they They will try to
can collective find different
views of ways of getting
customers to people to buy
solve any issues their drinks
that may arise.
primary qualitative and Trail/sample- this This is used by
quantitive is when Coca cola the marketing
gives out free department to
dinks for people see what they can
to taste or to give do to attract more
them an idea of people to by coca
what to expect cola
when you buy a
coca cola drink
primary qualitative and Number of sales- If coca cola does
quantitive coca cola will use not get many
this to find out people to buy
how many people their drinks then
bought their they will talk to
drinks in one day the advertising
department so
that they can
advertise in more
Assignment and task: 2 Unit 3 p3
Teachers name: Charles Musana
Class: 1G
What is market research?
Market research means systematically gathering, recording and analysing market
data.
Why businesses carry out market research?
The importance of market research in understanding customers
Marketing research is important to customers because it allows customers to
give the ideas or opinions of what business should do to gain more customers.
This is usually done through focus groups, surveys and questionnaires.
The importance of market research in understanding competitors
Marketing research is to competitors because a good evaluation tool that can be
of great use in comparative studies. This allows business track other company's
progress as well as the growth other competitors, by keeping an eye on the
competitors. The business can create business strategies that would keep them
ahead of the competitors.
The importance of market research in understanding the market
environment
The market research is important to the environment surrounding because of the
political, social and economic factors around businesses. For example if there is a
recession then people might not be able to afford the products.
What is primary research?
Primary research is when is carried out marketing team of the businesses go 'into
the field' (e.g. house-to-house or street surveys) to find out new/updates
information effecting the business.
4 primary research methods
Questionnaires
Surveys
Focus groups
Customer interviews
What is secondary research?
Secondary research is using information that’s been collected which is reviews
others searches found out that already exists information method.
4 secondary researches
Company back data
Bank of England report
Benchmark data
, Name: Eric Asare
Assignment and task: 2 Unit 3 p3
Teachers name: Charles Musana
Class: 1G
Information on the internet
What is qualitative and quantitive research is and how
they differ
Quantitative research: is collecting information from a broad population
sample e.g. by conducting questionnaires, this is used when Coca Cola GB wants
to gauge appeal across a wide audience.
Qualitative research: is working with small 'focus' groups. This involves far
more detailed investigations, e.g. gathering a small group of mostly consumers
to test products or to talk about their opinions and experiences of using different
products. Qualitative research, even though it’s not representative of the views
of the general population it provides greater insight into 'why' people think what
they think.
The difference between qualitative research and quantitative research is that
qualitative research is primarily exploratory research whereas quantitative
Research is used to quantify the problem by way of generating numerical data or
data that can be transformed into useable statistics.
Type of research Type of data What coca cola do How the research
informs their
development
plans
primary qualitative and Questionnaire- They can use this
quantitive get views and data to make a
opinions of people future changes
favourite flavour and
of Coca cola improvements
primary qualitative Focus group- they They will try to
can collective find different
views of ways of getting
customers to people to buy
solve any issues their drinks
that may arise.
primary qualitative and Trail/sample- this This is used by
quantitive is when Coca cola the marketing
gives out free department to
dinks for people see what they can
to taste or to give do to attract more
them an idea of people to by coca
what to expect cola
when you buy a
coca cola drink
primary qualitative and Number of sales- If coca cola does
quantitive coca cola will use not get many
this to find out people to buy
how many people their drinks then
bought their they will talk to
drinks in one day the advertising
department so
that they can
advertise in more
