Btec Business Level 3 Unit 3 P3

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P3,M2: In this report I am going to be talking about the different marketing research techniques a business can use to find out information about their business. As well as this I will be discussing the limitations involved in each marketing technique. Firstly what is marketing research? Marketing research is defined as “The process of assessing the viability of a new product or service through techniques such as surveys, product testing and focus groups. Market research allows a company to discover who their target market is and what these consumers think about a product or service before it becomes available to the public.” I am going to be relating this to Tesco for their marketing techniques. The first technique is that of a survey,…show more content…
This is that of a respondent. These are the people that provide information and data by answering and taking part in all forms of market research. By doing so they provide all forms of quantitative and qualitative data that is suitable and relevant for an organisation and in particular Tesco. By having respondents they are able to access and obtain primary research as they gain the information first hand. Tesco use respondents in all market research that is primary data as they are the ones that buy all the products and use all of the services to help Tesco be the company they are today. As well as this without them they wouldn’t be able to conduct market research and find out vital information in order to develop their business. The limitations of using respondents is once again because you are trying to get primary data then you have to put more time and effort and spend more money in order to try and gain the key…show more content…
Focus groups aim at a discussion instead of on individual responses to formal questions, and produce qualitative data (preferences and beliefs) that may or may not be representative of the general population." This would be a good method of collecting primary data due to the fact that as the business you collect the information yourself and therefor it has a more reliable element to it. As well as this it helps a business obtain further examples of both qualitative and quantitative data which always help when it comes to finding whether or not a business has to develop on. In terms of telco they would use focus groups in order to establish any problems or improvements that they would be able to make I.e. Releasing a new product to existing

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