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Edexcel IGCSE Business Studies 4.1.1 purpose of market research

Practise market-research purpose by linking findings to customer needs, launch risk and decisions about product design or market gaps.

Syllabus
First assessment 2019
Course
Business Studies 4BS1

Exam points

  • Explain how research findings help identify customer needs or market gaps.
  • Evaluate whether research before a new product reduces risk enough to justify cost.
  • Apply research reasons to a case such as product design, demand or competition.

4.1.1 Purpose of market research question 1

[Maximum number: 3]

TADS is looking to expand by offering lessons in other musical instruments.

Explain one purpose of market research for a business.

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