Edexcel IGCSE Business Studies 4.1 market research
Practise market research by selecting methods, using qualitative or quantitative data and evaluating evidence before product decisions.
- Syllabus
- First assessment 2019
- Course
- Business Studies 4BS1
Exam points
- Choose primary or secondary research methods that fit the case and information need.
- Explain how qualitative or quantitative data helps improve a product or marketing mix.
- Evaluate research before a new product decision, considering customer needs and limits.
Covered syllabus points
4.1 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.
AO1 = 3 marks
Award 1 mark for identification of a purpose of market research, plus 2 further marks for explaining this purpose for a business, for a maximum of 3 marks.
- A purpose of market research can be to identify your customers' needs (1) this will help you to design your products to meet those needs (1) and allow the business to be more successful (1).
NB Answers that list three purposes with no explanation will get a maximum of 1 mark.
Accept any other appropriate response.
(3)
4.1 Market research question 2
[Maximum number: 3]
Irsi Chocolatier is a chocolate shop in Brussels, the capital city of Belgium. There are many other chocolate shops nearby. Opened in 1989 by the Corne family the business now has four directors and three employees. Florent Corne is the Managing Director with three other family members as Directors. Irsi Chocolatier opens from Tuesday till Saturday. The shop sells a variety of handmade chocolates and jelly fruit sweets. It delivers locally and has a website for information purposes only.
Explain one benefit for a business that uses test marketing.
A01-3 marks
Award 1 mark for identification of a benefit for a business that uses test marketing, plus 2 further marks for explaining the benefit, for a maximum of 3 marks.
- The risk of failure is reduced (1) as the new product is only tested in one area gaining feedback from customers (1) leading to modifications being made before the final launch (1)
NB Answers that list three benefits with no explanation will get 1 mark only.
Accept any other appropriate response.
(3)
4.1 Market research question 3
[Maximum number: 1]
Loaf, a bakery and cookery school, was set up by Tom Baker in Birmingham, UK. The aim is to promote real food and healthy living. It wants to use its skilled chefs to bring real food to the kitchens of the local community. It uses its cookery courses and bakery to help restore the local high street. Loaf also hosts pop-up events (one-off events) in different parts of the city where it shows off its products. Any profit made through these events is directed towards furthering Loaf's charitable work.
Loaf operates a scheme called 'Waste Not'. At the end of the day Loaf donates any leftover food to charities who distribute it to local people. In addition, Loaf provides a recycling hub for the local community.
Loaf is a social enterprise with nine members of staff; six of whom are directors.
Define the term quantitative data.
AO1 = 1 mark
Award 1 mark for a correct definition of quantitative data.
- Data that is expressed as number (1).
(1)
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