Edexcel Business Studies Research Methods

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  • Research Methods
    • Primary Research
      • Questionnaires
        • A lsit of written questions.
          • Very common as contain the views and opinions of respondents.
      • Telephone Interviews
        • Cheap
          • Wide geographical area can be covered.
            • Some people do not like being interrupted on telephone calls/
      • Personal Interviews
        • Often carried out in the street/ on the high street.
          • Questions can be explained.
            • Some people do not have time/ do not want to participate.
      • Focus Groups
        • a number of customers are invited to attend a discussion led by market research.
          • The group must be representative of the whole population.
            • Cost effective.
      • Observation
        • The business watches the behavior of the customers.
          • E.G Could show the most popular products and where they are located.
            • However, you do not get customer feedback on these products.
      • Test Market
        • Involves selling a product in a restricted geographical area to test it before a national launch.
          • After time feedback is given to the researchers.
        • Reduces risk of failure.
    • Secondary Research
      • Internal Data
        • May be collected from existing business documents or other publications.
          • Documents could be: Sales figures, stock movements etc
      • Trade Journals
        • Magazines to do with trade within a particular industry.
      • Annual Reports
        • Report on companies activity throughout a year.
          • E.g Profit and loss account /balance sheet etc.
      • Government sources
        • Office for National Statistics (ONS), Census
      • News
        • Offers different sources on business plans/ competitors and new products.
      • EU and International sources
        • E.g -EuroStat,  -World Trade Organisation

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