Understanding customer needs

Using Chapter 2 of your textbook, create a set of notes or mind map covering the key terms and concepts we have discussed in this topic.prepare for a test on the content of this

Chapter

Complete the extended writing task about Grace and Peter Fletcher by answering Questions 1 – 3.make good use of the technique tips

provided and that your answers are fully EXPLAINED.

Homework

60 second mind meld

Learning objectives

understand that customer needs

are central to starting a business

understand how to collect and

interpret primary and secondary

market research

understand the difference between

qualitative and quantitative

market research

understand the value of market

knowledge through direct

customer contact

Customer needsThere are really only three ways to start up a

successful business:do something really new that people wantdo something that already exists, but do it

betterdo something that already exists, but at a

lower costWhatever approach you take you need to

know the wants and desires of your customersmarket research is the key to finding out the

needs of your customers

What is market research?

DefinitionThe process of gaining

information about customers, competitors and

market trends through collecting primary and

secondary data

DefinitionThe process of gaining

information about customers, competitors and

market trends through collecting primary and

secondary data

How to gather the dataThere are two types of market research you

could use to gather data

Primaryresearch

gathering new data which has not been

collected before

Primaryresearch

gathering new data which has not been

collected before

Secondary research

gathering data that already exists and

has not been specifically collected

for your use

Secondary research

gathering data that already exists and

has not been specifically collected

for your use

Task 2: What’s what?On your worksheet, decide whether each of

the forms of market research listed is an example of primary or secondary market research in the table mark each method of market

research P for primary or S for secondary

Types of dataThere are two types of data that can be

collected from market research

Quantitative data

Data that can be expressed as numbers and

analysed statistically

Quantitative data

Data that can be expressed as numbers and

analysed statistically

Qualitative data

Information about opinions, judgements

and attitudes

Qualitative data

Information about opinions, judgements

and attitudes

Task 2: Firefly TonicsAs you watch the video, jot down answers to

the questions on your worksheet

Before we move on to design a questionnaire which you can use to conduct market research for your product you need to check your understanding of the topic of market research

Use the exam multiple choice questions in your worksheet to check that you have understood what we have introduced

It’s OK to use your notes!

Task 3: exam practice

Group taskYou are thinking of setting up a teenage

fashion businessYour task is to write a market report which will

be part of the business plan you present in order to secure a start-up loan to write this report you will need to conduct

some market research of Year 10 studentsyou should conduct your research using

a questionnairea focus group

Designing a questionnaireGeneral tips on designing a good market

research questionnaire / focus group questionsbe clear about WHAT you want to find out

before you start!be clear about what KIND of data you want

– quantitative or qualitative? think about the type of RESPONSE you want

to the question – open or closed?- think about how you can ‘scale’ the response

keep it short think about the sequence – easy / general

first!

Good or bad?What’s good or bad about these questions?

Suggest an improvement in each caseMost cool teenagers wear hair gel. How

often do you wear hair gel?everyday at weekends never

Do you like this product name? Yes No Would you buy this product? Yes No Which brand of toothpaste do you use?

_______________How often do you buy frozen yoghurts?

sometimes occasionally regularly

Working collaborativelyYou will be working in table groups It is important that you work collaborative

elect someone to ‘chair’ your meetingsdecide what needs to be donedecide who is going to do whatmake sure that everyone contributes

Use OneNote to create a collaborative working spaceeveryone set up a SkyDrive account first

using your school email address ‘chair’ will create the notebook and share