Market Information
Andrew Ouellette, Tomas Miller, Jon Janney
Market Research
Market Research is the activity of gathering
information about customer’s wants and
needs.
Market Research allows companies to know
what products to produce and target a
specific market for the product.
Reasons for Market Research
1. Find the size of the market
2. Predict new trends
3. Locating a problem
4. Analyzing competition
5. A second opinion
6. Keeping up with technology
7. Developing new products
8. Testing Promotional material
9. Tracking your brand
10.Reassuring your gut feeling.
Primary vs. Secondary
Primary Research is research done by your
company.
Secondary Research is information gathered
through other sources such as a
government source.
Validity vs. Reliability
Validity encompasses the entire
experimental concept and establishes
whether the results meet the requirements
of the research method.
Reliability is any significant results must be
repeatable.
Questions to ask
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Gender
Grade Level/Age
Sweatshirt Preference
Club or activity involvement
What products they typically buy
What new products they want to see
What benefits they want in a product
5 Tips for Writing a Survey
1. Define your objectives- what decisions are you trying
to make
2. Work Backwards- What data do you need
3. Check for Bias- Don’t ask leading questions
4. Do a test drive- Proofread and send questions to
friends.
5. Collect Results and Analyze Data- Make a decision
based on results and data.
Survey Results
We received a good number of responses for our survey. A
majority of them have visited the school store and
purchased a product. Responders would like to see more
newer clothing products as well as food and drinks in the
school store. Most responders said they walk by the school
store multiple times a day so the outdoor display is a
excellent attraction for customers. The school store has
attracted a lot more customers then it has the past
couple of years.