Business Studies Recap Day 7 - Market Research

On day 7 of our Year 12 Recap we look at market research and how a business can take certain marketing measures to improve the performance of the business’s products or services.

If a business is to launch a successful product or service to the market it needs to be well-received by its target customers. The only way a business can achieve this is if the company can adapt the product offering for the individual demands, needs and expectations of the consumer, but how can a business fill this information gap? Well this is where market research becomes important - collecting, analysing and scrutinising feedback from the market to increase the commercial success of this product range. It is important to be comfortable talking about the different forms of market research and then also being able to critically evaluate the findings from this research.

Here Jack guides you through the market research revision slide: