Market Research | The Purpose of Market Research Explained | Lego, Gymshark & Apple Examples

Watch this video if you want to understand the purpose of Market Research in Business.

The video explains the concept of Market Research and evaluates the 4 core purposes of its use in business with supporting examples at Lego, Gymshark, Apple, Blockbuster, and Colgate throughout.

Follow us on the following socials to see even more Business Studies content:

#BusinessStudies​​ #ALevelBusinessStudies​​ #GCSEBusiness​

[adrieee]

*Timestamps 📍*

0:25 - The Purpose of Market Research
1:30 - Identifying Customer Needs
3:22 - Identifying Gaps In The Market
5:09 - Reducing Risk
6:26 - Making Better Business Decisions

[hellenobrien]

Thank you what a great video, this is very much interesting and engaging for my level 3 btec students! Fantastic resource.

[rachelhaigh]

Brilliant - thank you for the videos and activity sheets - just brings a different level of interest to the lesson.

[alisongoddard]

Great video, students are always engaged and curious to find out more after watching these - where do I find your video on primary and secondary research methods? I was hoping to use this as revision with our Yr.11's keep up the good work (teaching Cambridge National Enterprise and Marketing as an NQT after a 20 year career in Fashion Retail)

[teodordimitrov]

this is so much help through gcse thank you

[zvv]

thank you for this! watched this video for gcse business (:

[cecilyngoka]

ok but what is the primary and secondary market?

👌👌👌👌👎👍👍👍👍☝☝☝

[maryamwahabbutt]

market research helps us to identify our competitors as well.