Unit 3: Market Need Analysis
Lesson 1
Market Research
Entrepreneurship
Senior High School Applied - Academic
What is market research?
Why is there a need to
conduct market
research?
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Learning ● Analyze the market need.
Objectives ● Determine the possible product
or service that will meet the
At the end of the
lesson, you should
need.
be able to do the
following:
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Imagine you have a
product in mind that you
want to sell. How would
you know if people would
buy your product?
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What kind of
customers
would you
have?
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We can answer those questions
through market research.
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Market Research
design, collection, and
analysis of relevant data,
arranged in a systematic
way, aimed at
providing a solution to
a specific marketing
problem
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Why would we
need market
research?
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The Need for Market Research
● perspective on the changes in consumer
tastes on product and services
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The Need for Market Research
● overview of the prevailing economic
conditions
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The Need for Market Research
● insights if there is a need to reschedule
at a later time when the demand arises
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How does market research help
entrepreneurs in initiating a
business enterprise?
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How does market research help
entrepreneurs in initiating a
business enterprise?
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Purpose of Market Research
● understanding of
consumers’ needs
● minimizes the risk of
business failure
● gives a forecast of the
trends
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How do we start market
research?
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Market Research Basic Questions
1. Why conduct a market research?
2. What will be the market research?
3. Which part of the market will be
researched?
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Example
Question Answer
Which part of the students from Junior to
market will be Senior High School
researched?
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Market Research Basic Questions
4. Who among the members of the identified
market will be researched?
5. When will be the right time to
conduct the planned market research?
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Example
Question Answer
When will be the during lunch break and
right time to dismissal
conduct the
planned market
research?
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7 Market Research Basic Questions
6. Where will the market research be
conducted?
6. How will the market research be carried
out?
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Example
Question Answer
How will the market by observation and
research be carried interview
out?
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Tip
Among the 7 market research
basic questions, the first 2- WHAT
and WHY should always be
answered first. The rest may be
answered in any order.
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How do we conduct market
research?
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● Advertising Research
Types of ● Commercial Eye Tracking
● Customer Satisfaction Research
Market ● Distribution Channel Audit
Research ● Internet Strategic Intelligence
● Test Marketing
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Advertising Research
predict or trace the
effectiveness of an
existing or related
product or service
advertisement
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Advertising Research
Coca-Cola's "Share a Coke" Campaign
[Link]
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Advertising Research
1. Objective: Coca-Cola aimed to engage younger audiences and
increase brand personalization.
2. Research Process:
• Market Research: Coca-Cola identified that Millennials and Gen Z
preferred personalized and interactive experiences.
• Concept Testing: The idea of replacing the Coca-Cola logo with
popular first names and nicknames was pre-tested through focus
groups and surveys.
• Media Strategy: Research identified social media, outdoor
advertising, and in-store displays as key channels to maximize reach
and engagement.
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Advertising Research
Execution: The campaign launched with bottles and cans featuring common
names and nicknames, encouraging people to "Share a Coke" with friends and
family.
• Post-Testing Results: Sales increased by 2% in the U.S.
• Social media buzz surged as people shared photos of personalized bottles.
• Coca-Cola gained significant brand engagement and loyalty among younger
audiences.
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Advertising Research
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Advertising Research
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Advertising Research
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Commercial Eye Tracking
analyzing visual
behavior and trends
among its target
consumers
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Commercial Eye Tracking
● Case: McDonald's
Digital Menu Boards
1. Objective: McDonald’s
aimed to optimize its
digital menu boards to
increase order efficiency
and promote high-
margin items.
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Commercial Eye Tracking
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Customer Satisfaction Research
feedback of customers
who already purchased
the product, or a related
one, to gauge his
satisfaction
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Customer Satisfaction Research
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Customer Satisfaction Research
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Customer Satisfaction Research
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Customer Satisfaction Research
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Customer Satisfaction Research
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Distribution Channel Audit
assessing the distributor
or retailers’ purchase
ordering pattern and
levels of a product
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Distribution Channel Audit
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Distribution Channel Audit
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Distribution Channel Audit
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Internet Strategic Intelligence
Using the Internet in the
form of chats, forums,
blogs, etc, the product
under review is given an
honest experience
review.
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Internet Strategic Intelligence
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Internet Strategic Intelligence
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Internet Strategic Intelligence
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Internet Strategic Intelligence
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Internet Strategic Intelligence
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Test Marketing
a small, controlled
quantity of the product
is being released to
gauge the level of
acceptance of the
buying public or target
market
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Internet Strategic Intelligence
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Group Work
In relation to the proposed product
in your business plan, how will you answer the
7 basic questions of market research?
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Questions
Part A.
What you will do in the following scenarios?
1. Your target participants in your market research are students.
While inviting and explaining to them your intention to include
them in your research, some expressed that they refuse to join.
2. You intend to conduct a group session/ interview with a number of
teachers in your school for your market research, but there is no
common free/vacant time in the schedule of the teacher-
participants.
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Questions
3. You are having a difficult time identifying the ideal market segment as
participants in your market research.
4. The location where you plan to conduct your market research is quite far
from your locality. Many of the group members weren’t given permission
by their parents to join the market research activity of your group.
5. Your target participants in your market research are adult professionals.
They signified that they are not interested in participating in your market
research because your team is just wasting their time.
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Questions
Part B.
Discuss among your research group mates
what data/ information you can extract from
the different types of market research if
your group decides to employ such, which
can be helpful for planning/improving your
proposed product or service.
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Wrap Up
Market research refers to the design, collection,
and analysis of relevant data, arranged in a
systematic way, aimed at providing a solution to a
specific marketing problem.
Market research is one of the most effective
tools to utilize if the entrepreneur wants to
undertake the marketing aspect of the business
effectively.
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Wrap Up
Market research provides understanding of
consumers’ needs, minimizes business risk
and failure, and forecast of emerging market
trends.
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Wrap Up
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Photo Credits Bibliography
D’ Andrea, Aude and Ines Gabarret. Building 21st Century
Slide 21: This file, Divisoria_Shopping, by Timothy Albano is Entrepreneurship Volume 1. John Wiley and Sons
licensed under CC BY 3.0 via Wikimedia Commons Publishing, 2017.
Dollingner, Marc. Entrepreneurship: Strategies and Resources
3rd Edition. New Jersey: Prentice Hall, 2003.
Kotler, Philip & Gordon McDougall. Marketing Essentials.
Prentice-Hall Canada Inc, 1985.
Miranda, Gregorio. Basic Marketing Revised Edition. L & G
Business House, 1997.
Peters, Michael & Robert Hisrich. Entrepreneurship 4th
Edition. McGraw-Hill Book Co, 1999.
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