Market Research
Identify the two types of Market Research. Provide an example of each.
Field Research - Surveys, Observation, Focus Group.
Desk Research - Google, CSO, Newspapers, Business/Trade Reports
Explain the term USP. Provide an example of one.
Unique Selling Point - The differentiating feature that distinguishes a product or service from its competitors. E.G. Volvo markets itself as the safest car on the market.
Discuss One Impact of Technology on Customer Expectations?
Increased need of speed and convenience.
Want of personalisation.
Name the S & Explain with an example.
Social Factors - Consumer Lifestyles, Demographics, Values/Attitudes. E.G. Supermac's plant-based/healthier options.
Name the 4 Cross-Cutting Themes in the LC Business Course?
Digital Technology, Ethics & Sustainability, Entrepreneurial Thinking, Business & Financial Thinking.
Explain the term Niche Market and provide and example of one
A small segment of a larger market for a specialised product or service. E.G. Bridal shoes, Communion Dresses, Gluten Free Bread, Wheelchair Accessible Transport.
Name the 7 P's of the Marketing Mix.
Product, Price, Place, Promotion, Process, Packaging, People.
Discuss One Impact of Technology on Market Reseach?
Real-Time Feedback, Quicker/Easier Analysis of Data, More Affordable Tools.
Name the T and Explain with an example.
Technological - Innovations, Automation, AI. Retailer without a mobile-friendly website or online ordering system could lose sales to competitors like ASOS or Amazon.
What country recently introduced a social media ban on under-16s?
Australia
Provide two Advantages and two Disadvantages of Field Research?
Adv - Up to Date information, Specific.
Disadv - Time Consuming and Expensive.
Identify the 5 Stages of the Product Life Cycle & Name two Benefits of Branding.
Introduction, Growth, Maturity, Saturation, Decline.
Benefits - Can charge a premium price, Brand Recognition, Brand Loyalty, Easier to launch new products.
Discuss One Impact of Technology on Marketing?
More targeted campaigns, Measurable Results, Low-Cost and More Creative.
Name the P and Explain with an example.
Political - Government Policy, Taxation, International Trade, Political Stability. E.G. Trump and Tariffs reduced competitiveness of Irish exports.
What big change took place on 01/01/2026 that will impact nearly all workers?
Pension Auto-Enrolment
Explain three reasons why a business conducts Market Research?
To identify demand, to establish market size and trends, To set prices, To identify competitors, To reduce the risk of failure.
Name and Explain 3 Pricing Strategies?
&
Name 3 Types of Promotion?
Premium, Penetration, Cost-Plus, Competitive, Price Skimming, Price Discrimination, Psychological, Tiered, Dynamic, Loss Leader, Bundle.
Advertising, Public Relations, Sales Promotions, Digital Promotion.
Explain the Negative Influence that Ethics & Sustainability can have on Marketing (2 Points).
Increased Costs, Risk of Being Accused of Greenwashing.
Name the L and Explain with an Example?
Legal - Laws, Regulations, Consumer Protection, Advertising Rules.
E.G. Collecting consumer information, have to follow GDPR rules. A failure could result in fines and damage to reputation.
What Irish Brand achieved 50% CO2 target ahead of schedule?
An Post
Explain three ways in which a Market can be Segmented?
Demographic, Geographic, Behavioural, Psychological.
State 3 Functions of Packaging?
&
State 3 Factors to Consider when Deciding on the Channel of Distribution to use?
Protection, Provide Information, Attract Attention, Convenience, Image.
Cost/Profit Margin, Market Reach, Nature of the Product, Online Presence, Target Market/Product Image.
Explain the Positive Influence that Ethics & Sustainability can have on Marketing (2 Points, at least one example).
Builds Trust & Loyalty (Tony's Chocolonely)
Creates Powerful Marketing Stories (SuperValu TidyTowns)
Can be a Competitive Advantage (Ballygowan's Recycled Bottle)
Name the 3 E's - Explain with examples.
Economic - Inflation, Interest Rates - Cadbury's may increase prices or reduce size (Shrinkflation).
Environmental - Climate Change, Packaging Waste, Energy Efficiency - Bottled water brand would face criticism if it does not switch to recyclable or reusable bottles.
Ethical - Moral standards, how a business treats workers, suppliers, animals - A fashion brand might face backlash if clothes are made in unfair or unsafe working conditions.
Who was named EY Emerging Entrepreneur of the Year in 2025? (Entrepreneur & Company)
Aine Kennedy - Smooth Company.