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Business Studies IGCSEPDF 134

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PDF 134

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0450/11 Cambridge |GCSE — Mark Scheme May/June 2025 PUBLISHED Question Answer Marks Guidance 2(e) Explain two methods of market research a business 6 | This is a general question so there are no marks for could use to help make business decisions. Which is likely to be the best method for a manufacturing business to use? Justify your answer. Award up to 2 marks for identification of relevant points. Award up to 2 marks for relevant development of points. Award up to 2 marks for a justified decision as to which the best method of market research for a manufacturing business to use to make business decisions. Points might include: « Government sources/statistics [k] provide information from a wide number of people [an] « Usinginternet/online sources [k] which is free / low cost/ immediately available [an] « — Information from trade associations/journals [k] as specifically about the industry [an] « Market research agency reports [k] can often be expensive/provide detailed information [an] ¢ Questionnaire [k] as provides up-to-date information / specific to the business [an] e Interviews [k] to obtain in depth details/opinions [an] e Survey [k] can reach out to more/large number of people [an] « Focus group [k] as it provides detailed information / allows for follow-up questions [an] «Test marketing [k] so the cost of any problem is limited to a smaller number of products [an] «¢ Observation [k] low cost [an] « Newspapers/magazines [k] Other appropriate responses should be credited. application. Candidates must identify the method of market research to access the knowledge marks not just state primary/secondary. Analysis can refer to an advantage/disadvantage of method. Some development can be used for more point, but only award once. 0450/11 Cambridge |GCSE — Mark Scheme May/June 2025 PUBLISHED Question Answer Marks Guidance 2(e) Justification might include: Government statistics [k] provide information from a wide number of people [an]. A focus group [k] can provide detailed information about consumer tastes [an]. Government statistics are better because they are based on wide samples whereas a focus group is based on a few existing customers so it may not identify what is happening in the market overall so the business may not produce the right product. [eval] [eval]