Market Research

Overview

Framework:
RQF
Level:
Entry Level 3
Unit No:
D/504/9421
Credits:
3
Guided learning hours:
30 hours

Assessment Guidance

Porfolio of evidence

Unit Learning Outcomes

1

Be able to plan market research.

Assessment Criteria

  • 1.1
    Outline the information to be collected through market research for a specific enterprise activity.
  • 1.2
    Identify target group or groups to be consulted
  • 1.3
    Devise a straightforward method or tool to gather relevant market research information (e.g. a simple questionnaire).
2

Be able to carry out market research.

Assessment Criteria

  • 2.1
    Conduct basic market research, using a method appropriate to the target audience, to gather information relevant to a specific enterprise activity.
  • 2.2
    Record the findings gained through market research (eg keep a tally of how many people selected each flavour for an ice cream-selling enterprise).
3

Be able to interpret market research.

Assessment Criteria

  • 3.1
    Outline main, relevant findings from market research (e.g. Most people said they’d buy chocolate flavour; some people said they’d buy vanilla; no-one said they’d buy rum and raisin.).
  • 3.2
    Give an example of how findings from market research will influence the approach to a specific enterprise activity.