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Market Research

Suggested Timeframe: 1-2 hours

Goal

To assist students in becoming more familiar with the concept of market research.

Conducting market research ensures there’s adequate demand for your products and services – removing any guesswork.

Activities

Activity 1 Discussion

With the class, make a list of the different reasons why companies carry out market research. Ask them if they have ever taken part in a survey and what it was for, and then ask them to consider the different uses for the information they offered. Follow with a group study of the topic handout.

Activity 2 Marketing questions

After running through the question definitions in the topic handout, ask students to complete the exercise in the student worksheet by deciding whether the four questions are ‘closed’ or ‘open’.

Activity 3 Create a survey

Have the students form into small groups and assign each group a different type of product, e.g., microwave pizzas or washing-up liquid. Each group must now consider the target market for their product and create a survey of no more than 12 open and closed questions that could be used to assess the popularity of the product in the marketplace. Each group must describe the target market and how that led to their choice of questions when they present their work to the class.

Last updated 11 November 2016