1.1 Types of market research

• BTEC
• MBO
• Studiejaar 3

 MARKET RESEARCH IN BUSINESS

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

What is the definition of market research?

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

Let's discuss these methods of market research

what method is being described?

The watching of types of behaviour

1. SURVEY
2. OBSERVATION
3. E-MARKET RESEARCH

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

What research method is depicted in this picture?

What is the aim of experimentation in market research?

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.

What is the most frequently used method of doing market research?

1. OBSERVATION
2. FIELD TRIALS
3. SURVEYS
4. FOCUS GROUPS

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

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

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

write this in your notes!

Read pages 242 - 244 about internal sources for secondary research

List the different types of internal sources

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

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

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

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

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

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

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

write this in your notes!

Read pages 245 - 246 about external sources for secondary research

List the different types of external sources

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

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

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

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

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

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

write this in your notes!

What different Internal sources might a business have?

What external sources can be used to find information?

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.

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

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

Do case study page 249: Musical toothbrush 

Please upload the answers in your notes.

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

*

* Study pages 237 to 250.

*