Topic: The Role of Market Reserch
Part 1: Read the text, then match the correct vocabulary to the spaces.
resonate with (someone): (v.) to closely align with what someone thinks or believes
untapped (adj.): (of a resource) not yet exploited or used
pivotal role (n.): a position that is very important and greatly affects the success of something
pave the way (v.): create the circumstances to enable (something) to happen or be done
interpret data (v.): the process of reviewing information and arriving at relevant conclusions using various analytical research methods
informed decision (n.): a decision based on facts or information
competitive landscape: (n.) the environment in which businesses compete and interact within a specific market or industry.
Part 2: Devise your own market research
Conduct some (fictional) market research and present it to the class. You can use an existing company, or something of your own creation. While considering the following factors for your target customer demographic, answer the questions:
- age group
- education level
- industry trends
- gender distribution
- average income
- customer needs