Market Information and Research
This unit focuses on the importance of marketing information in gaining a more in-depth understanding of both the market in which the organisation operates and the customers it seeks to serve.
It aims to provide an understanding of how marketing information supports marketing decisions within the organisation and how information contributes to the overall marketing process. The unit explores different research methodologies linked to the collection of primary and secondary data.
By the end of the unit, students should be able to demonstrate a thorough knowledge and understanding in the ways of collecting and manipulating information to support and justify key marketing decisions.
- Identify appropriate information and marketing research requirements for marketing decision making
- Evaluate the importance of customer databases and their contribution to providing detailed market information to support marketing decisions
- Review the processes involved in established an effective database
- Explain the nature and scope of the research industry and discuss the importance of working in line with the industry's code of conduct
- Explain the processes for selecting a marketing research supplier, in domestic and international markets, developing the criteria to support that selection
- Explain the process for collecting marketing and customer information, utilising appropriate primary and secondary sources
- Appraise the appropriateness of different qualitative and quantitative research methodologies to meet different research situations
