Contents
Unit 2: Marketing
Module objectives
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Objectives
Identifying the target market
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Identifying Target Markets
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Identifying size, structure, and trends in the market
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Identifying Size, Structure, and Trends in the Market
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Identifying competitors
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Identifying Competitors
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Target Market Case Study
Market Research Methods and their Uses
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Importance of Validity, Reliability, Appropriateness, Circulation, Cost
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Quantitative and Qualitative data, Where and How it’s Used
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Research Sufficiency and Focus
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Selection and Extraction
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Developing the Rationale
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Product Life Cycle
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Module 2: Planning a Marketing Campaign

The purpose of researching information in order to identify customer needs and wants

 

Market research can be used for a number of different purposes. New businesses will want to do market research before launching their product or service in order to try and ensure their success. Established businesses will want to research the market before launching a new product or service and it’s sensible to carry out market research regularly to ensure you can anticipate any changes in the market (for better or worse!)

The three main reasons for doing market research are: 

Identifying the target market

Identifying size, structure, and trends in the market

Identifying competitors

Instructions

Navigating

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