Business Studies - annotated exemplars level 2 AS90846

Conduct market research for a new or existing product (2.4)

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This annotated exemplar is intended for teacher use only. The student work shown does not always represent a complete sample of what is required. Selected extracts are used, focused on the grade boundaries, in order to assist assessors to make judgements at the national standard.

Low Excellence

Commentary
Student work extract

Student 1 (PDF, 116KB)

For Excellence, the student needs to conduct comprehensive market research.

This typically involves:

  • integrating business knowledge relevant to the research to support the conclusion
  • integrating a Māori business concept(s) where relevant to support the conclusion
  • discussing ways to improve the market research process.

The student has conducted comprehensive market research about selling cupcakes at a community market day. An aim has been identified (1) and the research plan integrates business knowledge relevant to the research (2).

The student has analysed strengths and weaknesses of their research (3), and has discussed how the market research process could have been improved (4).

For a more secure Excellence, the student could have further integrated business knowledge by discussing how the market research process could be improved (4). For example, Survey Monkey would have the advantage of making the data less biased, as there would be no face-to-face contact in seeking and receiving the data from respondents.

High Merit

Commentary
Student work extract

Student 2 (PDF, 111KB)

For Merit, the student needs to conduct in-depth market research.

This typically involves:

  • including business knowledge relevant to the research to support the conclusion
  • including a Māori business concept(s) where relevant to support the conclusion
  • providing reasoned explanations of the strengths and/or weaknesses of the research and how this impacts on the validity of the findings/conclusions.

The student has conducted in-depth market research into the different types and cuts of meat that people would be interested in, for a business activity called Mouthwatering Meats assessed under Achievement Standard 90848.

The student has included business knowledge by explaining how the secondary research enabled them to choose appropriate research tools so that the data would be valid (1).

The student has provided a reasoned explanation of how the validity of their conclusion has been affected by excluding a question about location (2).

To reach Excellence, the student could suggest improvements to their research. For example, the sampling method could be improved by assigning 100% of the questionnaires to the locality intended for Mouthwatering Meats (2). This would improve the validity of findings and enable better informed marketing decisions.

Low Merit

Commentary
Student work extract

Student 3 (PDF, 112KB)

For Merit, the student needs to conduct in-depth market research.

This typically involves:

  • including business knowledge relevant to the research to support the conclusion
  • including a Māori business concept(s) where relevant to support the conclusion
  • providing reasoned explanations of the strengths and/or weaknesses of the research and how this impacts on the validity of the findings/conclusions.

The student has conducted in-depth market research into whether Subway NZ should add a gluten-free bread option to their bread range.

The student has used secondary research to plan and design the research. Some business knowledge relevant to data collection has been included (1).

A conclusion has been drawn from the research. Business knowledge has been included to support the conclusion (2).

The student has clearly explained a strength and two weaknesses and has linked these to the validity of the conclusion (3).

For a more secure Merit, the student could include more business knowledge. The student could also strengthen the link between strength/weaknesses and the validity of the conclusion (3). For example, surveying over the phone and reaching more locations would make the data a fair representation of Subway customers, and would produce less biased data.

High Achieved

Commentary
Student work extract

Student 4 (PDF, 114KB)

For Achieved, the student needs to conduct market research.

This typically involves:

  • identifying the aim of the research
  • planning and designing the research
  • collecting and recording sufficient primary data relevant to the aim of the research
  • presenting the data using a range of appropriate methods
  • drawing a conclusion from the research
  • stating business knowledge relevant to the conclusion
  • stating a Māori business concept(s) where relevant to the conclusion
  • stating strengths and/or weaknesses of the research.

The student has conducted market research about an existing product, Prenzel Oils, in order to gather data about what to offer potential consumers for their a business activity assessed under Achievement Standard 90848.

The student has identified an aim and planned and designed the research after collecting secondary data (1). Data has been presented using a range of appropriate methods (2).

Sufficient primary data relevant to the aim has been collected and recorded, enabling a conclusion to be drawn (3).

The student has stated business knowledge relevant to the conclusion by suggesting a price for the oil to be sold in their business activity (4).

Strengths and weaknesses of the research process have been stated (5).

To reach Merit, the student could provide reasoned explanations for the strengths and weaknesses, and comment on how they impact on the validity of the conclusion (5).

Low Achieved

Commentary
Student work extract

Student 5 (PDF, 120KB)

For Achieved, the student needs to conduct market research.

This typically involves:

  • identifying the aim of the research
  • planning and designing the research
  • collecting and recording sufficient primary data relevant to the aim of the research
  • presenting the data using a range of appropriate methods
  • drawing a conclusion from the research
  • stating business knowledge relevant to the conclusion
  • stating a Māori business concept(s) where relevant to the conclusion
  • stating strengths and/or weaknesses of the research                     

The student has conducted market research into whether the public would prefer tea or coffee on the Rail Trail, for the purpose of selling this product from a small van.

A research aim has been identified (1).

A research tool has been planned and designed (2).

The student presented a sufficient range of data using two methods (3).

A conclusion has been drawn from the research (4).

Strengths and weaknesses of the research have been stated (5).

For a more secure Achieved, the student could state business knowledge relevant to the conclusion, by making a statement such as ‘I could have used a stratified sample and only interviewed those riders on the trail. This would have allowed me to question my intended target market and provided me with more accurate data from which to draw a valid conclusion’ (4).

High Not Achieved

Commentary
Student work extract

Student 6 (PDF, 118KB)

For Achieved, the student needs to conduct market research.

This typically involves:

  • identifying the aim of the research
  • planning and designing the research
  • collecting and recording sufficient primary data relevant to the aim of the research
  • presenting the data using a range of appropriate methods
  • drawing a conclusion from the research
  • stating business knowledge relevant to the conclusion
  • stating a Maori business concept(s) where relevant to the conclusion
  • stating strengths and/or weaknesses of the research.

The student has conducted aspects of market research about whether Whittaker’s L&P chocolate should become a permanent product in the market place.

An aim has been identified (1).

There is evidence of some planning for primary research (2).

Some business knowledge has been stated throughout.

To reach Achieved, the student could use a variety of methods of presenting the research results. The student could also state strengths and weaknesses in relation to the research aim rather than in relation to planning and designing the research. In the conclusion, the student could focus on data relevant to the aim and exclude erroneous data such as pricing and favourite brands.

 
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