Active learning ideas
Market research is the bridge between a good idea and a successful business. In this topic, students learn how businesses use data to minimize risk and understand consumer needs. They explore the distinction between desk research (secondary data) and field research (primary data), evaluating the pros and cons of methods like surveys, interviews, and focus groups. This is a practical, hands-on part of the NCCA curriculum that prepares students for their Classroom-Based Assessments (CBAs).
Activity 01
Students bring in empty cereal boxes and work in groups to identify the target market based on the design, price point, and promotional claims. They then suggest one piece of field research the company might have done before launching.
How do businesses come up with innovative new ideas?
Activity 02
Set up stations for 'The Survey,' 'The Interview,' and 'The Website Search.' Students spend 10 minutes at each station performing a quick task (e.g., drafting three survey questions for a new energy drink) and comparing the quality of data collected.
Why is market research essential before launching a product?
Activity 03
Students choose a well-known local business and individually identify its 4 Ps. They then pair up to discuss how a change in one P (e.g., doubling the price) would require a change in another (e.g., more premium packaging).
What is the difference between field and desk research?
A few notes on teaching this unit
Watch Out for These Misconceptions
Desk research is 'cheating' or less important than field research.
Desk research is actually the essential first step because it is faster and cheaper. Using a 'Research First' challenge where students must find three facts about a market online before they are allowed to write a survey helps reinforce this sequence.
Market research guarantees a product will be a success.
Research reduces risk but doesn't eliminate it. Discussing famous product flops (like 'New Coke') helps students understand that data can be misinterpreted or that markets can change rapidly.
Methods used in this brief
The Role of the Entrepreneur
Students identify the characteristics and skills of successful entrepreneurs. They evaluate the risks and rewards associated with starting a new venture in Ireland.
8 methodologies
The Business Plan
Students learn the components of a business plan and its importance for securing finance. They draft a basic plan for a hypothetical enterprise.
8 methodologies
Business Ownership and Liability
An exploration of different types of business ownership in Ireland, such as sole traders, partnerships, and private limited companies. Students assess the concept of limited liability.
8 methodologies