Lesson 3 Market Research Methods

Survey

Internet

Market reports

Governments

Focus group

Questionnaire

Observation

Market reports

To increase product prices

To identify and understand customer needs

To decrease employee salaries

To expand office space

Internet

Governments

Focus group

Market reports

To identify gaps in the market

To reduce risks

To make informed business decisions

To increase advertising costs

Research using existing data

Gathering new information/data not collected before

Analyzing historical documents

Reviewing literature

Desk research

Field research

Secondary research

Literature review

Already available

New and not collected before

From textbooks

From online databases

Collecting new data

Using existing data

Fieldwork

Original data collection

To review existing studies

To gather new and original data

To summarize past research

To analyze secondary sources

Soft drinks

Breakfast cereals

Dairy products

Confectionery

10

18

25

30

50 years

75 years

100 years

Over 100 years

Product-orientated

Market-orientated

Technology-orientated

Cost-orientated

Financial analysis

Market research

Product testing

Employee feedback

Create a two-fold information leaflet about market research.

Write a report on market trends.

Design a marketing campaign.

Conduct a survey on consumer behavior.

The purpose of market research

The history of market research

Methods of market research

Benefits of market research

Advantages and disadvantages

Historical background

Future predictions

Case studies

Improving self-management skills

Learning a new language

Gaining financial knowledge

Developing artistic skills

To provide a motivational message

To list the steps of the activity

To give a historical fact

To explain a complex concept