Defining Clear Market Research Objectives
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Defining Clear Market Research Objectives
Year 12 Business Studies Building the Foundation for Effective Market Research
Think About This...
A popular Christchurch café wants to expand their menu What questions should they ask their customers first? Why is it important to know exactly what you're looking for?
What Are Market Research Objectives?
Clear statements about what you want to learn Guide your entire research process Help you ask the right questions Ensure you collect useful, relevant data Save time and money by staying focused
Research Aims vs Research Objectives
{"left":"BROAD RESEARCH AIM: To understand customer preferences for new menu items\nSPECIFIC OBJECTIVE 1: To identify the top 3 preferred breakfast options among 18-35 year olds","right":"SPECIFIC OBJECTIVE 2: To determine willingness to pay premium prices for organic ingredients\nSPECIFIC OBJECTIVE 3: To measure customer satisfaction with current service speed"}
SMART Objectives Workshop
Work in groups of 3-4 Choose a local Canterbury business Write 1 broad research aim Create 2 SMART objectives SMART = Specific, Measurable, Achievable, Relevant, Time-bound
Research Questions Framework
Why Clear Objectives Matter
Prevent wasted time and resources Ensure you ask the right people the right questions Help you choose appropriate research methods Make data analysis more focused and meaningful Increase credibility of your findings Enable better business decision-making
Reflection & Exit Ticket
Why are clear research objectives crucial for effective market research? How do objectives guide the entire research process? Write one well-crafted research question for a business of your choice