Essay about 10.1 Market Research

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Contents

1. Activity questions…………………………………………………………….…2 2. Introduction………………………………………………………….….………3 3. P1….…………………………..….…………………………………...………...3 4. P2.……………………………………………………………...……..…......…..6 5. M2...………………………………………………….……………...…………..7 6. Conclusion……………………………………………………………………….9 7. References……………………………………………………………………….9

Assessment activity 10.1
P1, P2 & M1

Two major developments in the first decade of the 21st century were the widespread use of the Internet and the growth of high street coffee shops such as Starbucks and Costa Coffee. A business opportunity that combines these two ideas is to set up a town centre coffee shop that offers wireless Internet connection, computer terminals and
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There are several ways of conducting a survey: Face-to-face Postal Telephone Internet E-mail [pic] [pic] [pic][pic] [pic]

❖ E-market research is questionnaires online. There are two main approaches:
1) Standard questionnaires: is when the computer user receives a questionnaire that they fill in related to a particular topic.
2) Interactive questionnaires: is when the questions are presented one at a time. ❖ Focus group is a form of qualitative research in which a group of people are asked about their perceptions, opinions, beliefs and attitudes towards a product, service, concept, advertisement, idea, or packaging. Focus group is excellent for providing ‘rich’ information. ❖ Field trial and piloting is a new product placing in selected stores to test customer response under real-life selling conditions. It is excellent way of finding out how consumers behave in a setting that closely represents the real market.

SECONDARY MARKET RESEARCH involves analyzing information that already has been gathered for another purpose.

Two main sources of secondary research: ❖ Internal: information that already exists within the business (usually is the quickest, cheapest and most convenient source of information available).
For example: ← Data records ← Electronic Point of Sale (EPOS) ← Website monitoring ← E-transactions ←

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