Lesson 1: Main types of market research

UNIT 10: MARKET RESEARCH IN BUSINESS


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Slide 1: Slide
BTECMBOStudiejaar 3

This lesson contains 28 slides, with interactive quizzes, text slides and 1 video.

time-iconLesson duration is: 45 min

Items in this lesson

UNIT 10: MARKET RESEARCH IN BUSINESS


Slide 1 - Slide

This week we will learn;


* what primary research methods are and when to use them.

* what secondary research methods are and when to use these.

* key terms used in market research.

* about market research in tourism with case study page 247

* about triangulation with case study page 249

Slide 2 - Slide

Read task A & B, and sign declaration of understanding

Slide 3 - Slide

What is the definition of market research?

Slide 4 - Open question

Please read pages 238 - 241: The 7 research methods

Describe them and give examples in your notes


1. Observation = ....................................  + example

2. Experimentation = .......................   + example

3. Surveys = .............................................   + example

4. E-market research = ....................  + example

5. Focus groups = ...............................   + example

6. Panels = ...............................................   + example

7. Field trials and piloting = .........   + example


timer
8:00

Slide 5 - Slide

Let's discuss these methods of market research

Slide 6 - Slide

what method is being described?

The watching of types of behaviour
A
SURVEY
B
OBSERVATION
C
E-MARKET RESEARCH

Slide 7 - Quiz

Why would we use the "observation method" instead of other methods?
Give an example of observation

Slide 8 - Open question

What research method is depicted in this picture?

Slide 9 - Slide

What is the aim of experimentation in market research?

Slide 10 - Mind map

The aim of experimentation =
To find out what happens as a result of taking a particular action. This involves making a change in the marketing mix and then recording and analysing the results.

Slide 11 - Slide

When do we use a FOCUS group versus a PANEL?
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Slide 12 - Slide

ANSWER: Panels are used for ongoing research over a longer period of time, to see if their buying patterns have changed over time.


Focus groups are potential customers brought together to get "rich" information from.

Slide 13 - Slide

What is the most frequently used method of doing market research?
A
OBSERVATION
B
FIELD TRIALS
C
SURVEYS
D
FOCUS GROUPS

Slide 14 - Quiz



Read: appropriateness of primary research methods (page 241/242)

timer
4:00

Slide 15 - Slide

What are the 6 criteria to look at when conducting primary research methods?

Slide 16 - Open question

Write these 6 criteria in your notes + EXAMPLE


1. Fitness for purpose = .............. + example

2. cost = ................................................ + example

3. accuracy = ..................................... + example

4. time = .............................................. + example

5. validity = ........................................  + example

6. response rate = ........................  + example

timer
4:00
write this in your notes!

Slide 17 - Slide

Slide 18 - Video

Read pages 242 - 244 about internal sources for secondary research

List the different types of internal sources

1. ....................................

2. ....................................

3. .....................................

4. .....................................

5. ....................................

6. ...................................

7. ....................................

timer
4:00
write this in your notes!

Slide 19 - Slide

Read pages 245 - 246 about external sources for secondary research

List the different types of external sources

1. ....................................

2. ....................................

3. .....................................

4. .....................................

5. ....................................

6. ...................................

timer
3:00
write this in your notes!

Slide 20 - Slide

Slide 21 - Slide

What different Internal sources might a business have?

Slide 22 - Open question

What external sources can be used to find information?

Slide 23 - Open question

Criteria for choosing a secondary research method are the same as for primary research, such as;

* fitness for purpose

* cost-effective

* accuracy of the research

* time-effective (internet search is quickest)


Data mining = the process to identiry patterns and trends and to create meaning from the data found.

Slide 24 - Slide

Read 1.3 & 1.4 (p.248/249)


Make notes about;

* Qualitative research

* Quantitative research

* what is triangulation?

* strategies and tactics:

strategic, technical, databank, continuous, and ad hoc research

timer
4:00

Slide 25 - Slide

Do case study page 247: Secondary research about the 'staycation'.


Do case study page 249: Musical toothbrush 


Please upload the answers in your notes.

Slide 26 - Slide

Have we reached our learning goals?

DO WE KNOW?

* what primary research methods are and when to use them.

* what secondary research methods are and when to use these.

* key terms used in market research.

* about market research in tourism with case study page 247

* about triangulation with case study page 249

Slide 27 - Slide

* Choose a research company!!

* Write a one page research proposal.

* Study pages 235 to 250.

* Finish doing case studies.

* For 3B & 3C: upload your notes 

Slide 28 - Slide