• Created by: Immy1000
  • Created on: 27-02-17 16:50

Understanding customer needs: 1

Most customer needs are based on good quality, good product range, convenient location, good customer service and a fair price

Market research: Market research can tell a business:

  • What features customers want
  • How much they are willing to pay
  • Where they shop
  • What age and gender they are
  • Who the main competitors are
  • If the market is growing or shrinking

These questions can be answered through:

  • Primary Research - collecting data that did not exist before (e.g. by asking questions)
  • Secondary Research - Collecting data that already exists (e.g. internet research)
1 of 1


No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Marketing mix resources »