Market research

Dipta and Ravi are friends who are planning to launch a chocolate-making business for sale at local markets. Many raw materials, including cocoa beans, will need to be brought in from overseas. Ravi’s primary market research indicates that consumers will like ingredients obtained from ethical suppliers. Neither Ravi nor Dipta has any business experience, although Dipta has prepared a business plan. They require $500 for equipment, but they cannot choose which source of finance to use.

Feb/March 2017

Anna and James have set up a business partnership. They run an ice cream shop on the main street in Capital city. The shop employs 3 part-time workers and provides high quality ice cream to a niche market. Anna and James collect feedback by getting customers to complete questionnaires. Customers dislike the long queues and poor customer service. Anna believes these issues are caused by the shop always being busy. James has suggested relocating to a larger shop in a different area of Capital city.

Feb/March 2019

WFG is a private limited company based in country X. It owns 120 supermarkets, and 20 of these are run as franchises. One of WFG’s aims is to expand by launching 30 additional shops within the next 18 months. The Managing Director said: ‘Market research shows that fewer people are going to the local markets each day to buy food. It is important for us to set prices at the correct level.’ The Managing Director is considering whether new technology should be introduced into the business.

Feb/March 2020

Explain two reasons why Bob decided to use sampling when he carried out a questionnaire.

Feb/March 2020

Amir and Carla work as business partners. They own a luxury hotel that operates in a niche market. The business has a short hierarchical structure. To keep their 5 employees highly motivated, Amir and Carla apply Herzberg’s theory of motivation. They are thinking about opening a second hotel in another city. If they choose to expand, they will need to identify an appropriate source of finance. Secondary market research can help a business judge whether expansion is a good idea.

Feb/March 2025

Identify and explain two possible benefits to FF from changes in IT. Refer to Appendix 1.

May/June 2016

Identify and explain one benefit and one drawback of handing marketing tasks to the new manager.

May/June 2016

Identify and explain two reasons why developing customer relationships is important for VC.

May/June 2019

Five years ago, Alana set up a restaurant in the city centre. It serves plant-based meals made from a selection of vegetables. Alana carries out primary market research to help her spot changes in consumer spending patterns. Market research can also be used to divide a market into segments. The restaurant employs 16 workers. Each worker receives the legal minimum wage. In 2023, the business earned a profit of $80 000. Alana wants to find out how a rise in interest rates could affect her business.

May/June 2024

NSL is a business located in country X. It makes food products such as bread and breakfast cereals. NSL applies lean production in its factory. Keeping quality high matters. NSL imports 15% of its raw materials. Movements in country X’s exchange rate may influence businesses that import raw materials. NSL’s Marketing Manager understands the business should react to shifts in consumer spending patterns. She also knows that market research can be used to support business decisions.

May/June 2025

Explain four ways that market research information can support a business.

May/June 2025

Grimshaw makes mobile (cell) phones for the mass market. In the previous year, its market share rose by 3%. The Managing Director is considering opening a fresh factory in country T so that it can supply the mobile phone market there for the first time. Grimshaw intends to launch a new model of mobile phone. The Managing Director has requested market research. He stated: ‘Because we are a multinational, we could establish a new factory in any location; I want to find out whether the Government of country T would give us any assistance to construct our factory there.’

Oct/Nov 2015

GBU is a public limited company. It produces an assortment of beauty products, including shampoo and soaps, for the mass market. In the previous year, GBU’s revenue fell. The Marketing Director has been studying the findings from its primary market research, which was based on a sample of 2000 consumers. An extract is shown in Fig. 1. She thinks keeping customer loyalty matters more than winning new customers. Fig. 1: Extract from GBU’s market research. The first pie chart asks: ‘Where do you buy your beauty products?’ The segments are labelled: mail order 200, shop 1100, online 700. The second pie chart asks: ‘Would you buy our beauty products?’ The segments are labelled: yes 1700, no 300.

Oct/Nov 2016

Identify two methods that can be used to measure the size of AH. Explain the weakness of each measure.

Oct/Nov 2017

Identify and explain one benefit and one drawback of BB operating as a private limited company.

Oct/Nov 2017

FTT operates as a social enterprise. It sells its high quality fair-trade coffee beans to retailers in country P. Ethical behaviour matters to FTT. It gives local people information about micro-finance and training so that they can begin growing beans for FTT to market on their behalf. FTT wants to begin exporting coffee beans because its market research indicates rising demand for coffee in other countries. FTT’s managers must choose an appropriate pricing method for selling the coffee beans in those countries.

Oct/Nov 2018

Identify and explain two primary research methods PP could use to investigate the market in country Z.

Oct/Nov 2018

Samira runs a profitable takeaway fried-food business. She employs 2 part-time workers. In the previous year, turnover dropped for the first time in 10 years. This happened because competition increased from a well-known franchise. To react, Samira might cut her prices, as the Table 1 data show. Alternatively, she could launch a delivery service. Samira intends to carry out market research. She must choose between secondary research and arranging a focus group with some of her customers.

Oct/Nov 2019

Identify and explain two ways QC can create added value for its new service.

Oct/Nov 2019

Mercy and Ayo are entrepreneurs. They intend to open a shop that sells homemade ice cream. Mercy wants the business to behave ethically and to buy only high-quality organic milk from local farms. Ayo used sampling to help him conduct some primary market research. Table 1.1 shows an extract of the results from the 300 people in the sample. Ayo believes that a new business stands a better chance of success if it is sited where there is no competition.

Oct/Nov 2020

Explain two methods by which SSM can grow.

Oct/Nov 2021

Explain two benefits to MA of using the new technology described in Appendix 2. Benefit 1: Explanation: Benefit 2: Explanation:

Oct/Nov 2021

Once the recession in country X has ended, Beena is planning to launch a hairdressing business. One possible route is to buy a franchise from an established hairdressing business. Beena has $800 in savings and understands that having enough working capital will be vital for her business. She intends to use market research to guide her decisions. Beena also knows that a market can be divided up in many different ways.

Oct/Nov 2022

Explain two drawbacks and two advantages to a business of developing new products.

Oct/Nov 2023

Explain two benefits of specialisation in the production of SSE’s products.

Oct/Nov 2023

Explain four methods of primary market research Benjy could use to find out whether there is demand for BB’s services.

Oct/Nov 2023

Mitchell is an entrepreneur who plans to launch a business selling books. As part of his business plan, Mitchell has completed some market research. An extract is shown in Fig. 2.1. Mitchell will use microfinance as a source of finance. He wants to find out whether the opportunities from using ecommerce for a new business are greater than the threats. Fig. 2.1 Extract from Mitchell’s market research data for 2023. Chart 1: Kinds of people who read books. The figures are: Children 35%, Older people 27%, Adults 20%, Students 18%. Chart 2: Book sales by type (million). Approximate sales are: Electronic books 20 million, Audio books 10 million, Paperbacks 50 million, Hardbacks 15 million.

Oct/Nov 2024

Max is an entrepreneur planning to set up a business that sells books. He has chosen to use ecommerce. He has also been told that the government offers support for start-up businesses. He plans to use market research to support his business decisions. Max understands that building customer loyalty is important for a new business.

Oct/Nov 2025

Explain two advantages and two disadvantages to LB of using primary market research.

Oct/Nov 2025