Activity 4.4.2 – CARLOS PLANS A NEW RESTAURANT
1. List two sources of secondary research Carlos could refer to as part of his market
research.
Government publications and market intelligence analysis reports.
2. Outline how Carlos could conduct primary research as part of his market research.
Carlos could conduct a survey for potential customers of his new business. By
conducting a survey or distributing questionnaires in the small coastal resort to get
to know the potential buyers’ preferences and opinions. This could then easily help
him make decisions over the considerations he had been considering. For instance, if
he was confused over the decoration of his new business and which age group to
appeal to, Carlos could conduct a survey into knowing the preferences of consumers
near the area. With the results in hand, Carlos can identify their preferences and
make decisions that can please potential buyers.
3. Explain two benefits to Carlos of undertaking primary research before he opens his
new business.
One advantage of undertaking primary research is that desired information can be
obtained for a specific purpose. This is because when doing primary research, Carlos
gets to question all of his questions and is ensured to be answered whereas in
secondary research, the information can be very general and not specific enough.
For instance, by doing primary research, Carlos can obtain specific information such
as whether or not potential buyers prefer loud pop music or traditional Spanish
music. Such specific information regarding the potential consumers’ can easily be
obtained through primary research.
Another advantage of doing primary research is that the obtained information are
only available and unique to the business. This means other businesses do not have
access to the information regarding the potential buyers. This can be seen as an
advantage as what Carlos may get for conducting primary research can turn out to
be the unique factor that serves as a competitive edge to other competitors of
Carlos’ business.
1. List two sources of secondary research Carlos could refer to as part of his market
research.
Government publications and market intelligence analysis reports.
2. Outline how Carlos could conduct primary research as part of his market research.
Carlos could conduct a survey for potential customers of his new business. By
conducting a survey or distributing questionnaires in the small coastal resort to get
to know the potential buyers’ preferences and opinions. This could then easily help
him make decisions over the considerations he had been considering. For instance, if
he was confused over the decoration of his new business and which age group to
appeal to, Carlos could conduct a survey into knowing the preferences of consumers
near the area. With the results in hand, Carlos can identify their preferences and
make decisions that can please potential buyers.
3. Explain two benefits to Carlos of undertaking primary research before he opens his
new business.
One advantage of undertaking primary research is that desired information can be
obtained for a specific purpose. This is because when doing primary research, Carlos
gets to question all of his questions and is ensured to be answered whereas in
secondary research, the information can be very general and not specific enough.
For instance, by doing primary research, Carlos can obtain specific information such
as whether or not potential buyers prefer loud pop music or traditional Spanish
music. Such specific information regarding the potential consumers’ can easily be
obtained through primary research.
Another advantage of doing primary research is that the obtained information are
only available and unique to the business. This means other businesses do not have
access to the information regarding the potential buyers. This can be seen as an
advantage as what Carlos may get for conducting primary research can turn out to
be the unique factor that serves as a competitive edge to other competitors of
Carlos’ business.
