Market Research ... Before you do anything in marketing you first have to do Market Research – the gathering, recording, analysing, and presenting information relevant to the marketing process – there are two main types Primary Research Secondary Research - First hand, collected yourself – uses data that already exists • Questionnaires • Web-sites • Surveys • Magazines • Interviews • Leaflets • Catalogues SO, HOW SHOULD YOU CONSTRUCT YOUR QUESTIONNAIRE? Must be quick and easy to fill out Questions must be suitable for the user Questions must be clear and avoid confusion You must firstly consider the info’ you want to find out – the questions must be designed to get this info’ You should use a mixture of open (no fixed answer) and closed questions (specific answer required) Closed questions a easier to analyse and should be used when possible Use tick boxes etc – easier to fill in. EXAMPLES OF GOOD PRACTICE What age are you? Under 18 18 – 25 26 – 35 36- 45 I love marmite Over 45 Strongly agree Please indicate your top three preferred choices, using 1,2,3 - from the list below Ford ….. Disagree Fiat ….. ….. Volvo ….. ….. BMW ….. ….. VW ….. ….. Strongly disagree ….. agree Neither agree or disagree EXAMPLES OF BAD PRACTICE What age are you? 0 - 18 18 – 25 25 – 35 35- 45 45 - 100 What’s wrong here? What is your favourite car make? ………………….. What’s wrong about asking for an “open” response like this? OK , IN YOUR BOOKS .... Primary Research is ...... Secondary Research is ...... THROUGHOUT THE WHOLE PROCESS YOU MUST CONSIDER THE CHARACTERISTICS OF YOUR TARGET CUSTOMERS – MARKET SEGMENTATION Male/Female Age group Socio-Economic grouping – Occupation/ earning bracket etc Life style habits Geographical location Ethnic Group REFERRING TO SEGMENTATION, WHO WOULD BE YOUR TARGET MARKET FOR THE FOLLOWING? Who will be the Target Market for your business idea? HOMEWORK Provide 2 advantages and 2 disadvantages for each of the following types of Primary research: Method Adv Disadv Interviews 1 2 1 2 Questionnaires 1 2 1 2 Observation 1 2 1 2
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