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AQA GCSE (9-1) BUSINESS (8132) 3.5.3 The Purpose and methods of market research Define market research here: ____________________________________________________________________ ____________________________________________________________________ ____________________________________________________________________ __________________________________________ Why businesses conduct market research 1_____________________________________________ 2_____________________________________________ 3_____________________________________________ To identify gaps in the market • A business will carry out marketing research to spot a gap in the market or a potential business opportunity Page 1 Revisionstation worksheet ©
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AQA GCSE (9-1) BUSINESS (8132)
3.5.3 The Purpose and methods of market research
Define market research here:
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
Why businesses conduct market research
1_____________________________________________
2_____________________________________________
3_____________________________________________
To identify gaps in the market
• A business will carry out
marketing research to spot a gap
in the market or a potential
business opportunity
• Markets are dynamic and trends change all the time so the more
up-to-date the research is – the quicker the business can be
to market with the product
What information is collected in market research
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AQA GCSE (9-1) BUSINESS (8132)
Information on demand
Information on the competition
Information on the target market
Quantitative (Quantity data)
What does quantitative data involve?
Data is displayed in:
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AQA GCSE (9-1) BUSINESS (8132)
Examples may include:
Quantitative research is:
This type of research is useful for:
Qualitative (quality information)
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Information is gathered by:
Qualitative data seeks to:
AQA GCSE (9-1) BUSINESS (8132)
Methods of market research
What is primary research?
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__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
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Qualitative information can be used to:
AQA GCSE (9-1) BUSINESS (8132)
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AQA GCSE (9-1) BUSINESS (8132)
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What is secondary research?
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To find out lots of customer opinions so that charts can be drawn up and decisions
To find out specific information from customers by asking questions To find out lots of information about the way the customers may use a
new product
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Method Purpose
Questionnaires
Interviews
Focus groups
Newspapers
Magazines
Websites
AQA GCSE (9-1) BUSINESS (8132)
To read articles about recent product innovation in the industry by other companies
To find out what print media advertising the competition are using To find out what other businesses in the industry are doing with their e-
commerce
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Explain market size here:
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Explain market share here:
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