Business: Marketing and Market Research
Unit 10:
Unit code: QCF Level 3: Credit value:
Market Research in Business
H/502/5427 BTEC National 10
Guided learning hours: 60
Aim and purpose
The aim of this unit is to enable learners to develop an understanding of the fundamental concepts that underpin why businesses collect data about their market, how they collect and interpret it and how it can be used to support marketing decisions.
Unit introduction
It is generally accepted that having the appropriate information is the foundation of all good business decisions, and marketing information is, therefore, the basis of good marketing decisions. The ability to collect information and data about the business environment, markets and customers has been transformed by technological advances. The main research challenge today is to find the best information amongst a large amount of data, rather than finding scarce data, as was the case in the past. Market research is carried out in all areas of marketing activities and the information collected concerns customers, markets, responses to existing and planned marketing campaigns and the general business environment. This means that the process needs to be continuous so that trends, opportunities and threats are identified. In this unit learner knowledge of the main types and sources of market research will be developed. They will learn about the main research methods used to collect data and how to decide on the most appropriate method for a given situation. This will take into account organisational objectives and the constraints that businesses work within. Learners will also learn how data is analysed, interpreted and presented so that the research objectives are met. Learners will have the opportunity to plan and carry out some simple market research activities and to interpret their findings.
Learning outcomes
On completion of this unit a learner should:
1 2 3 4
Understand the main types of market research used to make marketing
Unit code: QCF Level 3: Credit value:
Market Research in Business
H/502/5427 BTEC National 10
Guided learning hours: 60
Aim and purpose
The aim of this unit is to enable learners to develop an understanding of the fundamental concepts that underpin why businesses collect data about their market, how they collect and interpret it and how it can be used to support marketing decisions.
Unit introduction
It is generally accepted that having the appropriate information is the foundation of all good business decisions, and marketing information is, therefore, the basis of good marketing decisions. The ability to collect information and data about the business environment, markets and customers has been transformed by technological advances. The main research challenge today is to find the best information amongst a large amount of data, rather than finding scarce data, as was the case in the past. Market research is carried out in all areas of marketing activities and the information collected concerns customers, markets, responses to existing and planned marketing campaigns and the general business environment. This means that the process needs to be continuous so that trends, opportunities and threats are identified. In this unit learner knowledge of the main types and sources of market research will be developed. They will learn about the main research methods used to collect data and how to decide on the most appropriate method for a given situation. This will take into account organisational objectives and the constraints that businesses work within. Learners will also learn how data is analysed, interpreted and presented so that the research objectives are met. Learners will have the opportunity to plan and carry out some simple market research activities and to interpret their findings.
Learning outcomes
On completion of this unit a learner should:
1 2 3 4
Understand the main types of market research used to make marketing