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GCSE Business GCSE Business StudiesStudiesRevision Presentations 2004Revision Presentations 2004
Understanding customer Understanding customer needsneeds
Spotting a business opportunity
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Needs & Wants Lesson objectives:
To know that Customer needs are central to starting a business
To know methods of collection and to and interpret primary and secondary research in the context of starting a new business
the difference between qualitative and quantitative data
The value of market knowledge through direct customer contact
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Needs & Wants
Needs satisfy our basic requirements for living:
* Food * Water * Warmth * Security * Shelter
Wants are things we desire beyond our needs
A better mobile phone
A faster car
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Products
Product = anything that satisfies customer needs and wants
A “good”Something tangible
E.g. a mobile phone
A “service”Usually intangible
Something other people do for you
E.g. service you receive when you stay in a hotel
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Task
You are about to see 5 goods or services
Imagine you are a business and your job is to work out:
The needs of the customer
The wants of the customer
For example; a fruit and veg store
Needs: Food
Wants: fresh, cheap prices, friendly service
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A Mobile Phone Company
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A Restaurant
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A Chocolate Bar
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A Computer
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A School
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Task
Using a magazine picture of your choice:
Stick the picture in your book with the Title : Understanding Customer Wants and Needs
Along side the picture comment upon how this product meets the needs of the customer and the wants of the customer
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Learning obejctive
To know methods of collection and to and interpret primary and secondary research in the context of starting a new business
The value of market knowledge through direct customer contact
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A Difference
How would the following type of businesses work out what their customers needs and wants are:-
A Microbusiness – this is a very small business where the owner does everything
A big business – this is a very large business, with thousands of employees and hundreds of shops
Give reasons for your thoughts.
Which do you think is the most effective for giving the customer what they want.
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TASK: Market Research
How do companies – of any size – find out the wants and needs of their customers?
Brainstorm ideas with the person next to you and create a list in your book.
Now split your ideas into the following two groups
Primary Research – this is where you go and talk to possible customers and find out what their needs and wants are
Secondary Research – this is where you use information already gathered by someone else, from newspapers, the Internet, etc
Which do you think is the most reliable type of research?
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Extension
For both microbusinesses and big businesses:
Say what the positives of using primary research are
Say what the negatives of using secondary business are
For both, say what you think is best.
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Plenary
Tell me, in one sentence, what you have learnt this lesson.
The sentence can be no more than 2 lines!!
Try to fit everything in.
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Learning objective
the difference between qualitative and quantitative data
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Interpret why and when a business might use the
following types of market research, describing their positives and negativesa. Quantitative
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a. Qualitative
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Quantitative / Qualitative
Highlight the questions on the survey which are Quantitative
Highlight in a different colour the questions which are Qualitative
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Easy Jet V Ryan Air
In your book write the title: Qualitative and Quantitative research
Which information are you given that is Qualitative
Which information are you given that is Quantitative
Which customer information seems the most reliable? Why?
Which customer information are you given which is the most useful? Why?
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Theo
Highlight the primary research Theo did in one colour
Highlight the secondary research Theo did in another colour
Highlight information that is qualitative
Highlight information that is quantitative
Highlight any wants of his customers
Highlight any needs of his customers
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HOMEWORK
Revision Sheet A-Z
Theo