BSBMKG506B Plan market research

Session 1

Identify market research needsIdentify market research needs

© 2010 Innovation and Business Industry Skills Council Ltd.

Purpose of this presentationAt the end of this session, you should know how to:

communicate the role of market research in enterprise operations

identify the contribution of market research to enterprise activity

determine research needs

develop a statement of market research needs.

© 2010 Innovation and Business Industry Skills Council Ltd.

Role of market researchcollect and interpret data

solve problems

operational and strategic decision making

marketing or marketing research.

© 2010 Innovation and Business Industry Skills Council Ltd.

Contribution of market researchbest practices

competitors, clients and stakeholders

forecasting

strategic planning.

© 2010 Innovation and Business Industry Skills Council Ltd.

Determine research needs

1. Define

management problem.

2. Understand research problem.

3. Find cause of management

problem.

4. Determine research

objectives.

5. Use research hypothesis.

© 2010 Innovation and Business Industry Skills Council Ltd.

Research methodologiesData and sources:• primary data• secondary data• internal sources• external sources.

Exploratory research Descriptive research Causal research

Data and sources:• primary data• secondary data• internal sources• external sources.

Data and sources:• primary data• secondary data• internal sources• external sources.

Data collection methods:• qualitative techniques• focus groups• in-depth interviews• panels• projective techniques.

Data collection methods:• quantitative techniques• surveys• observations• case studies.

Data collection methods:• quantitative techniques• experiments.

Main use:To gain background information, generate ideas, seek opinions, clarify problems, explore alternatives and establish priorities.

Main use:To answer questions relating to ‘who’, ‘what’, ‘where’, ‘when’, ‘why’ and ‘how’.

Main use:To determine the ‘cause and effect’ relationship between two or more variables.

© 2010 Innovation and Business Industry Skills Council Ltd.

Statement of research needscompetition

consumers

place

pricing

products and services

promotion.

© 2010 Innovation and Business Industry Skills Council Ltd.

Review – are you able to:communicate the role of market research

in enterprise operations

identify the contribution of market research to enterprise activity

determine research needs

develop a statement of market research needs.

© 2010 Innovation and Business Industry Skills Council Ltd.