1. Word cloud
120 seconds
What do you think of when you hear 'market research'?
2. Slide
60 seconds
Market Research
Market research is the process of gathering, analyzing, and interpreting information about a market to better understand the target audience. It helps businesses better understand customer needs, preferences, buying patterns, and market trends. It can be used to help develop products, adjust pricing, and decide where to advertise.
3. Slide
60 seconds
Market research
Market Research: The systematic gathering, recording, and analyzing of data about customers, competitors, and the market to inform business decisions.
Primary Research: Research that involves the collection of data that does not exist already, but is collected specifically for the research project.
Secondary Research: Research that involves the summary, collation, and/or synthesis of existing research rather than primary research, where data is collected from sources that already exist.
4. Slide
60 seconds
Did you know?
Market research is used to help companies develop new products and services. Market research often helps companies create better customer experiences. Market research can also help marketers determine when and where to advertise their products and services.
5. Open question
180 seconds
Work together in pairs: What are two key benefits of conducting market research for a business?
6. Personalised Feedback
360 seconds
What are some key methods and techniques used in market research to gather information about consumer preferences and behavior?
7. Open question
180 seconds
Work together in pairs: What are the key factors to consider when conducting market research for a new product or service?
8. Drawings
450 seconds
Brain break: Draw a flying banana wearing a superhero cape and a mask
9. Poll
60 seconds
What is the purpose of market research?
- To advertise products and services
- To create financial projections
- To gather information about target customers
10. Poll
60 seconds
Which of the following is a primary research method?
- Surveys
- Online reviews
- Competitor analysis
11. Poll
60 seconds
What is the difference between qualitative and quantitative market research?
- There is no difference between qualitative and quantitative research
- Qualitative focuses on numerical data, while quantitative focuses on opinions and insights
- Qualitative focuses on opinions and insights, while quantitative focuses on numerical data
12. Poll
60 seconds
Why is market segmentation important in market research?
- It helps identify specific target audiences for marketing efforts
- It helps create better advertising campaigns
- It helps determine pricing strategies
13. Poll
60 seconds
What are some common sources of secondary market research data?
- Focus groups with potential customers
- Government publications, industry reports, and academic journals
- Surveys conducted by the company
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