2(d)
Indicative content
Responses may include:
AO1 Knowledge and understanding
Knowledge of the features of marketing research methods to inform future marketing decisions (max 2 marks), including:
- Market research is the process of collecting, recording and analysing data about customers, competitors and the market
- Market research can be primary and/or secondary
- Market research data can be quantitative and/or qualitative
- Purposes of market research - understand the market, reduce risk, understand customers, predict trends
- Primary market research methods or examples
- Secondary market research methods or examples
AO2 Application
Context applied to features of market research methods to inform future marketing decisions (max 2 marks), including:
- International brand of carbonated drinks
- Research focused on customer preferences
- Slogan was 'A premium drink for premium customers'.
- 7 national and 12 international brands
- FD lost the title of market leader to TR
- Reduced its marketing budget.
- Evidence of high customer loyalty
- Change in ingredients led to FD's products tasting similar to their competitors
- Feedback highlighting a 'flavourless drink' and demand fell rapidly
- Brand name and customer loyalty was lost
2(d)
AO3 Analysis
Limited analysis - candidate shows one link in the chain of analysis.
Developed analysis - candidate shows two or more links in the chain of analysis.
- Primary research data;
understand customer needs - so can increase sales
- Can help decide whether new business ideas are suitable/relevant;
reduces long term costs of a failed product/brand
- Identify products customers find appealing;
reduces marketing budgets
- Make packaging and branding decisions;
attract customer interest
- May not provide much unknown data;
data may already exist so not increase sales
- Is there marketing budget suitable;
may not have enough finance
AO4 Evaluation
Limited evaluation - unsupported judgement and/or a weak attempt at evaluative comment
Developed evaluation E - supported judgement and/or reasonable evaluative comment Developed evaluation in context [EE ] - supported judgement in context and/or reasonable evaluative comment in context.
- A judgement about the likely usefulness to FD of market research methods to inform future marketing decisions.
- Elements that the judgement could depend upon, available finance, brand reputation, competitor branding, taste, trust.
- Weighing up of the impacts on external factors to the proposed of market research methods to inform future marketing decisions.
2(d)
Accept all valid responses.
Exemplars for awarding evaluation
□
L1 (limited supporting evidence)
L2 □ (developed supporting
evidence)
L3 [EE] (developed supporting evidence
with context)
Market research methods
are useful to FD.
Market research methods are useful to
FD because it can help the business
make decisions to better meet customer
needs.
Market research methods are useful to FD
because it can help the business make
decisions to better meet customer needs
and therefore regain its position as market
leader.
FD should not use market
research methods to
support future marketing
decisions.
FD should not use market research
methods to support future marketing
decisions in case the data is misleading.
FD should not use market research
methods to support future marketing
decisions, such as reducing the quality of
ingredients in its drinks, in case the data is
misleading.
In the short-term market
research methods are a
good way to inform future
marketing decisions.
In the short-term market research
methods are a good way to inform future
marketing decisions, but in the long-term
changes in the external environment may
reduce the value of the market research
data.
In the short-term market research methods
are a good way to inform future marketing
decisions, but in the long-term changes in
the external environment may reduce the
value of the market research data,
especially as the market is competitive
with 7 national and 12 international
brands.