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Evaluate Question. The final question on Paper 1 and Paper 2 will be an Evaluate question worth 12 marks. Use the example on the next three slides to help you create your own responses to some Evaluate questions. What is this question asking? What will I consider?
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Evaluate Question The final question on Paper 1 and Paper 2 will be an Evaluate question worth 12 marks. Use the example on the next three slides to help you create your own responses to some Evaluate questions.
What is this question asking? What will I consider? It is asking me to focus on the reliability of market research – this might include issues such as sample size, how up to date the research is. I need to think why market research will be important to this business but also think about what else might be more important. 2. How will I answer the question? Paragraph 1: Explain one reason why reliability of market research is important to POD Point. Paragraph 2: Explain something else that might be more important to POD Point. Paragraph 3: Conclusion using AJIM.
What key information is given in the case study? • The owner is called Erik • POD Point is a new(ish) business and will not have a lot of experience of previous sales / patterns. • It supplies chargers for electric cars that can be used at home (USP) • They have over 25 000 customers • 20% of revenue comes from Norway – exchange rates are important to them. • Market research suggests demand will continue to rise.
My answer: The reliability of market research is very important to Erik’s business as it is in a new industry therefore it cannot simply look back at patterns from previous years. Therefore it needs reliable market research about the electric car market to inform decisions about future plans, for example, the design of a new charger. Without reliable market research, they may create chargers that do not meet their customers’ needs. However, whilst market research is important, the quality of the charger is more important as customers need these to be safe. As the business already has 25 000 customers, it must have a good reputation and may not need to rely on market research data. In conclusion, market research is not overly important to POD Point because they already have a successful charger. However, the continued success of their charger will depend on what happens to the exchange rate as they export a lot of their chargers to Norway; if the product becomes too expensive, then sales will decrease. Therefore a more important consideration will be keeping their costs low in order to keep their prices competitive.
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