market research 1.1.2

• Statistics And Probability
• Biostatistics

1.1.2 Market research student version

Related documents

Add this document to collection(s)

You can add this document to your study collection(s)

Add this document to saved

You can add this document to your saved list

Suggest us how to improve StudyLib

(For complaints, use another form )

Input it if you want to receive answer

• International
• Schools directory
• Resources Jobs Schools directory News Search

Edexcel A-level Business 1.1.2 Market Research

Subject: Business and finance

Age range: 16+

Resource type: Lesson (complete)

Last updated

2 February 2023

• Share through email
• Share through twitter
• Share through linkedin
• Share through facebook
• Share through pinterest

1.1.2 - Market Research / Edexcel A-level Business Powerpoint (Lesson)

A 21 slide teaching PowerPoint presentation explaining content for topic 1.1.2 - Market Research as part of the Edexcel A-level Business course. PowerPoint includes slides on: -Title page -What is market research -Why might market research be conducted -Qualitative and quantitative data -Primary and secondary research -Knowledge check 1 -Primary Research title page -Pros -Cons -Questionnaires -Focus Groups -Product trials -Secondary research title page -Pros -Cons -Social media -Reports -Knowledge check 2 -Product vs market orientation -Sampling methods -Case study - Visa Intended for a teaching classroom environment.

Creative Commons "Sharealike"

Your rating is required to reflect your happiness.

It's good to leave some feedback.

Something went wrong, please try again later.

This resource hasn't been reviewed yet

To ensure quality for our reviews, only customers who have downloaded this resource can review it

Report this resource to let us know if it violates our terms and conditions. Our customer service team will review your report and will be in touch.

Not quite what you were looking for? Search by keyword to find the right resource:

• Find Flashcards
• Why It Works
• Tutors & resellers
• Content partnerships
• Teachers & professors
• Employee training

Brainscape's Knowledge Genome TM

Entrance exams, professional certifications.

• Foreign Languages
• Medical & Nursing

Humanities & Social Studies

Mathematics, health & fitness, business & finance, technology & engineering, food & beverage, random knowledge, see full index, 1.1.2 market research flashcards preview, business skone > 1.1.2 market research > flashcards.

What is product orientation

Is an inward looking approach to new product development where the key focus is on what products can be made and the production process

What is market orientation

Is an outward looking approach to new products development were the key focus is on what products the consumer wants , informed by market research

What is market research

Is the collection and analysis of data and information to inform a business about its market

Data analysis is used to

Identify and anticipate customers needs and wants Quantify likely demand Gain insight into customer behaviour

What is primary market research

Field research - involves the collection of first hand data that did not exist before and therefore it is original data

What is secondary market research

Desk research - is research that has already been undertaken by another organisation and therefore already exists

Examples of primary market research

Surveys and questionnaires: postal , face to face , telephone. Online

Secondary market research examples

• national and local governments
• market research organisations
• professional bodies

Qualitative Research is

The gathering of non statistical information that gives a company in depth insight into the reasons for human behaviour

The size of the sample depends on

Budget Importance of accuracy Degree of confidence in result

Limitations of market research

Past data and trends may not be a fair indication of the future

• accuracy of research findings
• financial opportunities cost

Name the 3 type of sampling methods

Random Quota Stratified

Describe random sampling

A sample is selected for study from a population where each individual is chosen entirely by chance and has equal change of being selected

Describe quota sampling

The population is first segmented into sub groups before a judgement is made in selecting respondents that are representative of that subgroup

Describe stratified sampling

The population is first segmented into subgroups before respondents are randomly selected from within that subgroup

What are the uses within ict for market research

Websites - monitor number and frequency and timing is visitors , online polls and surveys

Social network - reviews , blogs , likes and dislikes , viral marking

Data base - data mining , trends

What is market segmentation

Occurs when the market is split into subgroups of customers with similar characteristics

What are segmentation methods

Demographics Geographical Income Behaviour

Demographics looks at

The social and economic characteristic

Different geographical characteristics include

Temperature Tastes / tradition Infrastructure

What is behavioural segmentation

Characteristics subgroups based in Feb behavioural patterns of the consumer rather than their characteristics:

• reason for making a purchase
• frequency is purchase
• brand loyalty
• method of purchase

Benefits of market research

• advertising can be targeted at specific market segments so that advertising spend is more efficient
• the most profitable and least profitable customers can be identified
• it Becomes easier to identify new products
• it helps the firm improve existing Pepsi ta and customer services

Decks in Business skone Class (24):

• 1.3.5 Marketing Strategy
• 1.1.1 The Market
• 1.1.2 Market Research
• 1.1.3 Market Positioning
• 1.2.1 Deamnd
• 1.2.2 Supply
• 1.2.3 Supply And Demand
• 1.3.1 Marketing Mix
• 1.3.2 Branding And Promotion
• 1.3.3 Prcing Strategies
• 1.3.4 Distribution
• 1.4.1 Approaches To Staffing
• 1.4.2 Recruitment
• 1.4.3 Organisational Design
• 1.4.4 Employee Motivation
• 1.4.5 Leadership
• 1.5.1 Entrepreneurs
• 1.5.2 Entrepreneur
• 1.5.3 Business Onjectives
• 1.5.4 Forms Of Business
• 1.5.5 Opportunity Costs
• 1.5.5 E To L
• Corporate Training
• Teachers & Schools
• Android App
• Help Center
• Law Education
• All Subjects A-Z
• All Certified Classes
• Earn Money!

Marketing Research

1 introduction.

This is not an actual book or guide on marketing research, but more like a placeholder for major constructs in marketing as well as interesting articles in marketing.

Feel free to comment or suggest changes to the content of this book.

Differences between goods and services:

• Intangibility
• Heterogeneity

Dimensions of Qualitative Research :

Ontology: “is a philosophical belief system about the nature of social reality- what can be known and how”.

Epistemology: “is a philosophical belief system about who can be a knower”.

Methodology (theoretical perspective): “an account of social reality or some component of it that extends further than what has been empirically investigated”:

• Post-positivist: causal relationship can be tested (i.e., disprove)
• Interpretive: assumes the world is constantly being constructed through group interactions;hence social reality can be understood via the perspectives of social actors enmeshed in meaning-making activities”.
• Critical: view social reality as an ongoing construction, and suggest that discourses created in shifting fields of social power shape social reality and its study.

Methods: “technique for gathering evidence”.

Procedures recommended for literature review papers:

( Katsikeas et al. 2016 )

( Lipsey and Wilson 2001 )

This part is based on professor Ajay Kohli’s workshop on theory

Purpose of theory is to

We need to have theory because it’s economical and can help us figure out many other manifestations.

Definition: Theory is hypothesized/expected description of causal relationships among construct

Parts of theory:

• Constructs (labels, definitions)
• Statement stating relationship among constructs
• Arguments to why X causes Y (including assumptions)
• Boundary conditions

Developing theoretical arguments

Both arrows are assumptions that can be agreed upon provided prior theory or anecdotal evidence

Assumptions are taken to be true

Propositions are yet to be true

Difference between a proposition and assumption is the Goldilocks distance between X and Y

One proposition can become a theory

Conceptual models = linkages without arguments

Framework = linkages between categories of variables, theory at abstract level

Framework is important because you can come up with more holes (generative power)

How to argue for U and inverted-U effect ( Haans, Pieters, and He 2016 )

1.1 Approaches to Research

1.1.1 theory first approaches, 1.1.2 empiric first-apporaches.

( Peter N. Golder et al. 2023 )

• Theory-First Approach is when researchers “borrowed refined, or developed and tested empirically” (p. 319)

Stages of the Empiric First Research

Identify Opportunity (grounded in a real-world phenomenon, observation):

Explore the real word for inspiration, novelty and relevance

Evaluate Aptness fo EF Approach

Explore Terrain (obtaining and analyze data)

Generative/Compile/Acquire/Data

Understand the Data

Define the Scope

Advance Understanding (get valid insights without developing or testing theory)

Uncover Empirical Regularities

Formulate Conceptual and Theoretical Insights

Advise Stakeholders

1.1.3 A Shift to Observable-to-construct links

1.1.4 conceptual contributions.

( Kindermann et al. 2023 )

1.1.5 Disruption-Driven Anomalies Apporach

( Swaminathan et al. 2023 )

Types of anomalies:

• Gap between theory and practice
• Disconnects between theory and empirical evidence
• Challenges to foundational assumptions underlying an existing paradigms
• Emergence of entirely new phenomena.

• UNC Libraries
• Subject Research
• Market Research Basics
• What is Market Research?

Market Research Basics: What is Market Research?

• Accessing Information
• Advanced Web Searching
• Definitions of Source Types
• Industry Codes
• Self-Check #1
• Track Down "Who Cares"
• Finding Trade Publications
• Finding Industry Reports
• Self-Check #2
• Finding Competitors
• Self-Check #3
• How to Size a Market
• Finding Demographic Data
• Finding Psychographic Data
• SimplyAnalytics
• Wrapping Up

Doing market research is like a cross between a scavenger hunt and a jigsaw puzzle.

There's no one magic information source that has all the answers. And sometimes, the information or data you're looking for may not even exist. Don't get discouraged! There are often alternate places to look or ways to search.

What is a market research definition?

Market research is " The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face " ( source ).

Essentially, it helps you answer some of the following questions:

• What is the size of my market?
• Who are my competitors?
• Which market is best suited for my product or service?
• How much will customers pay for my product or service?
• What are the emerging trends in an industry?

These questions can be roughly divided into two categories, Industry Questions, and Market Sizing & Customer Discovery.

The best market research is a combination of primary and secondary information.

Primary information: research you compile yourself or hire someone to gather for you.

Secondary information : This type of research is already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry.( source )

This module focuses on secondary research.

The next section defines the information sources you will likely use in researching your market.

Business Research Consultant/Librarian

• << Previous: Advanced Web Searching
• Next: Definitions of Source Types >>
• Last Updated: Jan 22, 2024 2:24 PM
• URL: https://guides.lib.unc.edu/market-research-tutorial

Search & Find

• E-Research by Discipline
• More Search & Find

Places & Spaces

• Places to Study
• Book a Study Room
• Printers, Scanners, & Computers
• More Places & Spaces
• Borrowing & Circulation
• Request a Title for Purchase
• Schedule Instruction Session
• More Services

Support & Guides

• Course Reserves
• Research Guides
• Citing & Writing
• More Support & Guides
• Mission Statement
• Diversity Statement
• Staff Directory
• Job Opportunities
• Give to the Libraries
• News & Exhibits
• Reckoning Initiative
• More About Us

• Search This Site
• Privacy Policy
• Accessibility
• Give Us Your Feedback
• 208 Raleigh Street CB #3916
• Chapel Hill, NC 27515-8890
• 919-962-1053

• 1.1.2 market research: primary market research = research collected first hand
• specific to the needs of the business
• more up to date and reliable
• better for two-way communication and follow-up questions
• more time consuming
• difficult to conduct a large sample size
• secondary market research: research which already exists
• easily accessible
• fast + less time-consuming
• often better for quantitative data
• some data free others expensive
• not always up to date
• product orientated : focused on products efficiencies + product itself
• market orientated: focus on consumer needs , understanding customers + developing products that meet their needs
• often biased
• small sample limits reliability of research
• collecting it is very time consuming
• cash-flow forecasting
• sales forecasting
• product development
• quick+ easy to collect research
• larger sample size more representative it will be
• correlation: helps a business to understand the relationship between two factors. if a business understands the relationship with its product it can increase sales
• collecting data through websites
• social media networking
• analysing information in databases
• differentiate from competitors
• develop + build brand loyalty towards products
• identify + satisfy needs of specific groups of customers
• focus activities

Please enable JavaScript.

Coggle requires JavaScript to display documents.

1.1.2 Market (Secondary research (government sources (Office of national…

• annual report if business is a limited company or a plc
• internal data
• Office of national statistics (ONS) demographic info
• DBIOS Department for business, innovation and skills has information on exporting and grants
• trade journals caters to specialist market
• EU and international sources
• suitable promotions
• assess potential demand for product or service
• assess competition
• build a customer
• allow business to be market orientated
• original data
• info dont exist yet (new data)
• use data to make specific decisions
• focus group
• questionaire
• observations
• loyalty cards
• cost effective
• reaches all customers
• requires no staff
• Data is more likely to be reliable as it is not rushed
• demographic e.g Gender
• psychographic e.g money savers or spenders
• Religion or ethnicity e.g Halal
• categorised through ABC1 & DE
• not enough information
• data is inaccurate or misleading
• were the same questions asked of each person
• was the sample big enough
• Product orientation =The product is the most important factor when providing products for a market
• Market orientation = The consumer is the most important factor when providing products for the market, the business has a sensitivity to customers requirements

Final dates! Join the tutor2u subject teams in London for a day of exam technique and revision at the cinema. Learn more →

Reference Library

Collections

• See what's new
• All Resources
• Student Resources
• Assessment Resources
• Teaching Resources
• CPD Courses
• Livestreams

Study notes, videos, interactive activities and more!

Business news, insights and enrichment

Currated collections of free resources

Browse resources by topic

• All Business Resources

Resource Selections

Currated lists of resources

Marketing research

• Share on Facebook
• Share on Twitter
• Share by Email

The Prisoner’s Solution – Podcast and Question Sheet

22nd January 2017

Why is market research needed?

Study Notes

Market Research for a New Business (Revision Presentation)

Teaching PowerPoints

Research & Development & New Products

Marketing planning (overview), marketing: primary market research (gcse), marketing: quantitative and qualitative research (gcse), marketing: research using questionnaires (gcse), marketing: introduction to market research (gcse), marketing research - sampling, marketing research - limitations and constraints, secondary market research, marketing "keyword chop" activity.

Quizzes & Activities

Market Mapping (Positioning)

Topic Videos

Market Research and New Product Sales | AQA Q1.5, Paper 2 2019

Exam Support

3.3 Decision making to improve marketing performance - Impossible 5 Revision Activity

Quantitative and qualitative marketing research, sampling and marketing research, technology & marketing decision making, marketing research - quantitative and qualitative, primary market research, brexit: the uncivil war – marketing, big data and strategy.

28th January 2019

Secondary Market Research Explained

Primary market research explained, marketing research "concentration" activity, marketing research "loose change" activity, marketing research.

Market Research Drives a Rebrand of Coca-Cola Zero

19th April 2016

Can Lynx Weave Its Magic on Older Men?

13th January 2016

Our subjects

• › Criminology
• › Economics
• › Geography
• › Health & Social Care
• › Psychology
• › Sociology
• › Teaching & learning resources
• › Student revision workshops
• › Online student courses
• › CPD for teachers
• › Livestreams
• › Teaching jobs

Boston House, 214 High Street, Boston Spa, West Yorkshire, LS23 6AD Tel: 01937 848885

• › Contact us
• › Terms of use
• › Privacy & cookies

© 2002-2024 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.

Search This Blog

Edexcel business a level revision, product and market orientation - 1.1.2, market research, product and market orientation.

• Close fit with customer expectations
• Greater responsiveness to changes in customer needs 
• Regular changes in the appearance of function of a product (to meet changing tastes) may leave customers confused about what the brand really stands for
• Businesses may struggle to keep up with product-orientated businesses that invest heavily in new product features and advanced technologies. 
• With customers who care mostly about cutting edge products, a marketing orientation may not work as well 
• Allows the business to focus on product quality and innovation and spend most of its efforts and money on doing this. 
• By putting customer priorities at the back of the list, the product might be admired but not sell very well. In high-tech markets with narrow life cycles, companies that bury themselves in product development may miss the window of opportunity to align with customer demand

Post a Comment