Market research enables a business to find out information about its market, its customers and aspects of the business environment such as what competitors are doing. Businesses also use it to find out about customer views on current marketing campaigns.
Market research skills are important in preparing for work. It is important to understand what customers want and need, and to develop the skills to find this out. In this unit you will learn about the main methods used to collect data and how to decide on the most appropriate method of research for a given situation. The assessment for this unit will require you to plan and carry out some simple market research activities and to interpret the findings. You will need to make a presentation to an invited audience about your market research. To make an effective presentation, you will need to use appropriate diagrams and charts to illustrate your findings and recommendations. In addition, you will need to be familiar with some simple statistical procedures that enable you to interpret your research findings more effectively.
After completing this unit, you should:
1. understand the main types of market research used to make marketing decisions
2. be able to plan research
3. be able to carry out research
4. be able to interpret research findings.
- Teacher: Gemma Porter