Profile the market
Part A - Written or Oral Question
1. What appropriate sources could you use to gather background market information?
2. Identify two methods for information collection and collation tools. Highlight a positive and negative aspect of each.
3. What reporting formats could you use for market research documentation? Give an example of a use for each.
4. What organisational and legal requirements are applicable to the gathering of relevant data and productions of reports?
5. Suggest a hypothesis related to your industry sector or position.
6. What options could you choose for quantifying data?
7. Suggest a type of market research methodology and explain how it works.
8. Select a method of data extraction, collation and analysis that you could use in your current position.
9. Give an example of how market research plans could identify potential respondents and their requirements.
10. Identify respondents in line with research and organisational requirements.
11. What is your organisation's agreed search methodology for recruiting respondents?
12. What resources could you need to prepare and arrange for data gathering?
13. Suggest a survey tool you could utilise and the information you could gather by using it.
14. What checks could you use to verify the quality of data and information? Why is this recommended?
15. Suggest three ways of summarising data and information.
16. Pick a software file that is used for entering and storing data and information. Highlight the positive and negative aspects of the format and note any useful features.
17. What method could you use to process data that is appropriate to research design? Explain your answer.
18. How could you interpret and aggregate data and information to provide observations relevant to search objectives?
19. What aspects could you judge collected data on, to determine whether it is relevant and suitable for the objectives of the research?
20. How could you prepare to create a research report?
21. To whom should you submit reports to? What is the organisational policy regarding this?
Part B - Written Assessment
Demonstrate your ability to conduct market research by following the steps detailed in the unit and researching an element of the market. You may choose a subject relevant to your current job role or something that you are personally interested in. Research all the information you feel is relevant and also what is required to complete the task, then produce a report detailing the data in verbal and visual forms.
You should detail the contact you would have with colleagues, stakeholders and the public, in gaining your information.
- Conduct desk research to gather background information
- Develop research methodology and objectives
- Recruit respondents
- Gather data and information from respondents
- Analyse research information
- Prepare research reports.