05:Do you think Amelia’s business would benefit from primary market research? Justify your answer[6]

[Dania]

YOGO is a new business which Amelia has just set up using Government support. YOGO makes a range of sweets (candy) targeted at adults. It is a niche market. Amelia has been looking at the marketing part of her business plan. She has to decide which pricing method to use. Amelia is spending a lot of money on packaging.She did not do any primary market research as she thinks she can use secondary data to make decisions. She believes that all adults like sweets.

05:Do you think Amelia’s business would benefit from primary market research? Justify your answer[6]

Possible KN Points:
>It is expensive.
>It is time consuming.
>Collect precise information.
>Collect precise information.
>Secondary data may be outdated.
>Help better target promotion / in pricing decisions.