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Direct Hit

Unit 4 - Marketing - QB

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Chart Increasing

Unit 1 - Introduction To Business Management - QB

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Briefcase

Unit 2 - Human Resource Management - QB

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Money Bag

Unit 3 - Finance & accounts - QB

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Factory

Unit 5 - Operations management - QB

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Bar-Chart

Unit 6 - Assessment

<ul>
	<li>Definition: Questionnaires designed to collect info from a specific audience.</li>
	<li>Types of Questions
	<ul>
		<li>Closed: Simple &quot;yes&quot; or &quot;no&quot; answers. Example: &quot;Do you like pineapple on pizza?&quot;</li>
		<li>Open-ended: Detailed response needed. Example: &quot;Why do/don&#39;t you like pineapple on pizza?&quot;</li>
	</ul>
	</li>
	<li>Examples of Survey Implementation
	<ul>
		<li>By mail: Imagine receiving a cool postcard from your school, asking about your experiences!</li>
		<li>By telephone: Like when a company rings and asks: &quot;On a scale of 1-10, how would you rate our product?&quot;</li>
		<li>Online: After attending a fun workshop, you get a link to share your thoughts!</li>
	</ul>
	</li>
</ul>

<ul>
	<li>Definition: One-on-one convo where questions are thrown, and answers are caught!</li>
	<li>Ways to do it: Face-to-face (like a coffee chat!), telephone (old-school cool), or online (hello, Skype and Zoom!).</li>
</ul>

<ul>
	<li>Definition: A mini-party where a few people discuss a specific topic. Well, minus the snacks. Usually.</li>
	<li>Who&#39;s there?: A mix of people that represents the larger market.</li>
	<li>What happens?
	<ul>
		<li>Questions, prepared by researchers, are discussed.</li>
		<li>Share ideas, feelings, and sometimes, taste or try out products.</li>
		<li>All the chit-chat is observed to predict what the entire market might feel.</li>
	</ul>
	</li>
</ul>

Real-life Example: A chocolate company creates a new flavor - &quot;Spicy Mango Tango&quot;. Before launching, they gather chocolate lovers (like us!) to taste and share thoughts. This helps predict if everyone else will dance to the &quot;Tango&quot;!

<ul>
	<li>Definition: The age-old method of watching carefully to understand things or behaviors.</li>
	<li>Not Always Scientific: Like people-watching in a park. Just more professional.</li>
	<li>Real-world Examples
	<ul>
		<li>Supermarkets: Observing if shoppers rush to a new display or how long they&#39;re stuck in checkout lines. (Next time you&rsquo;re there, think, are you being observed?)</li>
		<li>Traffic Department: Checking out traffic flow and recommending changes. So when a new traffic light pops up, you know someone&rsquo;s been watching!</li>
	</ul>
	</li>
</ul>

✨ Pro Tip: Think of market research methods as tools in a detective&#39;s toolbox. Each has its unique strength, and when combined, they provide a complete picture of what the market truly wants!

&nbsp;

Happy Studying! 📚✌️

Unlock The Power Of Primary Market Research: Surveys, Interviews, Focus Groups & More

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Higher Level

Business Management HL

Unit 4 - Marketing - QB

Unlock The Power Of Primary Market Research: Surveys, Interviews, Focus Groups & More

Table of content

Surveys - what's the buzz? 🐝

Interviews - let’s chat! ☕

Unlock the Full Content!

Unit 4 - Marketing - QB

Unlock The Power Of Primary Market Research: Surveys, Interviews, Focus Groups & More

Table of content

Surveys - what's the buzz? 🐝

Interviews - let’s chat! ☕

Unlock the Full Content!