1. UnderstandingUnderstanding
customer needscustomer needs

2. Learning objectives
understand that
customer needs
are central to
starting a business
understand how to
collect and
interpret primary
and secondary
market research
understand the
difference between
qualitative and
quantitative market
research
understand the
value of market
knowledge
through direct
customer contact

3. Customer needsCustomer needs
 There are really only three ways to start up a
successful business:
 do something really new that people want
 do something that already exists, but do it
better
 do something that already exists, but at a
lower cost
 Whatever approach you take you need to know the
wants and desires of your customers
 market research is the key to finding out the
needs of your customers

4. What is market research?What is market research?
Definition
The process of gaining
information about customers,
competitors and market
trends through collecting
primary and secondary data
Definition
The process of gaining
information about customers,
competitors and market
trends through collecting
primary and secondary data

5. Task 1: What information?Task 1: What information?
 In your Project Teams, think about the product
you have decided to produce
 what information would you need to make it a
success?
 what type of thinking are you going to use?
 Record your ideas in the box on your worksheet
and be prepared to feedback your ideas to the
rest of the class.

6. How to gather the dataHow to gather the data
 There are two types of market research you could
use to gather data
Primary
research
gathering new data
which has not been
collected before
Primary
research
gathering new data
which has not been
collected before
Secondary
research
gathering data that
already exists and has
not been specifically
collected for your use
Secondary
research
gathering data that
already exists and has
not been specifically
collected for your use

7. Task 2: What’s what?Task 2: What’s what?
 On your worksheet, decide whether each of the
forms of market research listed is an example of
primary or secondary market research
 in the table mark each method of market
research P for primary or S for secondary

8. Types of dataTypes of data
 There are two types of data that can be collected
from market research
Quantitative
data
Data that can be
expressed as
numbers and analysed
statistically
Quantitative
data
Data that can be
expressed as
numbers and analysed
statistically
Qualitative
data
Information about
opinions, judgements
and attitudes
Qualitative
data
Information about
opinions, judgements
and attitudes

9. Task 3: Firefly TonicsTask 3: Firefly Tonics
 As you watch the video, jot down answers to the
questions on your worksheet

10.  Before we move on to design a questionnaire which
you can use to conduct market research for your
product you need to check your understanding of
the topic of market research
 Use the exam multiple choice questions in your
worksheet to check that you have understood
what we have introduced
 It’s OK to use your notes!
Task 4: exam practiceTask 4: exam practice

11.  Complete the extended writing task about
Grace and Peter Fletcher by answering
Questions 1 – 3.
 make good use of the technique tips provided
and that your answers are fully EXPLAINED.
HomeworkHomework