Objective:
- Propose alternatives and improved ways of conducting a business based on research into other businesses.
- Analyse the role of market research and business planning in running a successful enterprise
Overview:
Why Do We Need Market Research?
- Steps To Take In Research
- Designing The Research
- Primary vs. Secondary Research
- Using Market Research To Look At The Competition
- Discussion Questions Case Study: 5 Star Windows & Conservatories
Activity:
1. The session starts with slides which instruct the learner on the learning outcomes of the session and the core knowledge required
- Slides 3 – Why Do We Need Market Research?
- Slides 4 - Steps To Take In Research
2. Class/group Discussion on types of market research which examines the competition
- Slide 8 - Discussion Questions
3. Introduction to case study
- Slide 9-11 - Case Study:5 Star Windows & Conservatories
4. Play the case study video
- Slide 12 inc:Â https://www.youtube.com/watch?v=D0QOSqQQMrw&
5. Class/group Discussion on market research used in Video
Session Material:
This session is designed to fit into a 45-60 minute session.
Skill Development: Key Takeaways
- It is important to think about the different business models and their components but not be wedded to one particular one.
- A business model is about value creation, delivery, and capture.
- A business may use a number of business models.
As a facilitator, it is important that you allow them to explore various business models and find the learning within that. This can involve team work with members sharing different view point which require support in developing.