Students should identify the benefits and drawbacks for various market…

The idea

Market research techniques include primary methods, such as surveys, interviews, observation and trials, and secondary methods, such as government statistics, competitor websites and internal sales records. Each technique has benefits and drawbacks. Primary research is gathered first-hand, so it can be tailored to the business, but it is often slow and costly. Secondary research is usually quicker and cheaper, but it may be outdated or not quite fit the business's needs. Quantitative data from large samples is easy to compare, while qualitative data gives richer reasons but is harder to summarise. To select the best method, a business weighs cost, time, reliability, sample size and fit with its aims.

For example: A small cafe testing a new menu might use short customer interviews, while a national chain might analyse loyalty-card data.

What earns the marks

• Identifies benefits and drawbacks of named techniques, such as the tailored nature of primary research or the low cost of secondary research.
• Distinguishes primary from secondary research and quantitative from qualitative data using correct terms.
• Explains how factors such as cost, time, reliability, sample size and relevance affect the choice of technique.
• Applies at least two techniques to the given business and compares them directly.
• Selects one method as best for the business and justifies the choice with a developed reason.
• Recognises that the best method depends on the business context rather than being fixed for all businesses.

Common mistakes and how to put them right

• Listing techniques without benefits or drawbacks.

  Put it right: The error is naming surveys or interviews and stopping, and the correction is to state an advantage and a disadvantage for each technique discussed.

• Treating primary research as always better.

  Put it right: The error is ignoring cost and time, and the correction is to weigh benefits against drawbacks for the specific business.

• Choosing a method without context.

  Put it right: The error is picking a technique that does not suit the business's customers or budget, and the correction is to match the method to the target market and resources.

Exam tips

• Use connectives such as because, therefore and however to turn a listed point into a developed benefit or drawback.
• For selection questions, name the chosen method clearly and give a reason linked to the business in the case material.
• Compare at least two techniques before judging, so the recommendation is supported rather than asserted.