Achievement standard 90846 - Business studies 2.4
Conduct market research for a new or existing product.
This achievement standard relates to
learning objective 7-1.
Students will gain knowledge, skills, and experience to:
- explore how and why large businesses in New Zealand make operational decisions in response to internal and external factors.
and/or
learning objective 7-2.
Students will gain knowledge, skills, and experience to:
- plan, take to market, review and then refine a business activity incorporating a community well-being focus, basing recommendations for the future on market feedback.
Explanatory note 2
Contexts for learning
The context for learning is a new or existing product from a suitable business connected to the student’s life and community and based on their talents, needs and aspirations (see the notes on making connections with students’ lives on page 7, which explain why using such a context is good practice). It is possible to combine this with AS2.6. However, teachers should be aware of potential high stakes involved in combining the two standards.
Conducting market research would typically involve:
- identifying the aim, planning the research
- designing resources, collecting and recording the primary data
- presenting the data
- drawing a conclusion from the findings
- using business concepts to explain the research findings/conclusions
- evaluating the market research in terms of strengths and weaknesses, how this impacts on the validity of the findings and the ways the market research could be improved.
Business knowledge, concepts, and content
This achievement standard requires that students demonstrate understanding of the following business knowledge, concepts, and content:
- reasons for research
- secondary (internal and external) and primary research
- sampling methods (random, stratified, quota, cluster)
- methods of research (observations, questionnaires, focus groups, testing, interviews, surveys, desk top, statistics, journals, sales reports, government information)
- advantages and disadvantages of types and methods
- data types (quantitative and qualitative)
- interpreting data
- presenting data using a range of appropriate methods
- evaluating the market research process
- ways to improve research.
Related Māori concepts
Māori concepts that relate to this achievement standard include:
- tikanga
- pūtake
- tūranga
- kaitiakitanga
- rangatiratanga
See also:
Explanatory notes 3, 4, and 5
See:
Achievement grades at level 2
Last updated October 4, 2022
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