Page 49 - THE CARIBBEAN ADVANCED PROFICIENCY EXAMINATIONS

UNIT 2

The Market Research and the Business Model – Paper 03/1

Candidates are required to conduct a market research and develop a business model. Each activity is
to be documented according to the guidelines given below.

A. MARKET RESEARCH

As a group of entrepreneurs, you are required to conduct a market research on a proposed
product/service. Your research should consist of both primary and secondary data relevant to the
product or service. You should analyse the findings and then make appropriate recommendations.

The market research will enable students to:

1. understand the importance of research in determining the feasibility of a product or service;

2. distinguish between primary and secondary data relevant to research;

3. select appropriate research instruments and procedures required to conduct research; and,

4. apply research findings in decision-making.

METHODOLOGY

The assignment should be carried out using the following methods:

1. review of available published materials; and,

2. conduct a survey in a selected market segment.

FORMAT OF THE ASSIGNMENT

The group should select a business name, slogan, logo, relevant to their role as an entrepreneur.

GUIDELINES FOR THE MARKET RESEARCH

Introduction

An outline of the proposal: business idea, the business name, type of business, location among others.

Objectives

A list of the objectives within the specified categories that the business would like to meet by means
of the questionnaire.

CXC A31/U2/13 44 www.cxc.org