Presentation and Use of Market Research Results

IGCSE

CREATIVE & PROFESSIONAL

Business Studies

Notes

Presentation and Use of Market Research Results

Presentation and Use of Market Research Results

Analyze Market Research Data Shown In The Form Of Graphs, Charts, And Diagrams


It is not an easy task for a person to understand the data of research especially quantitative research conducted for a local company in a small city or town or conducted in various cities or even in various countries for any multinational corporation following international standards. Most of the time, this data is gathered through a survey using a self-administered questionnaire as a research instrument. 

The data collected for research purposes is normally presented in the form of graphs. There are mainly three types of graphs in which data is normally presented. These three types of graphs are Bar Graph, Pie Graph, and Line Graph. 

In the Bar graph, the data is represented in the form of various bars that represent the values of different variables. 

In the Pie graph, there are different slices of a pie that represent the values of different variables.  

In the Line graph, a line or more than one line represents the values of different variables of data. 

The raw data that is gathered through surveys with the help of a questionnaire, is not easy for a common person to understand. It is because different forms of graphs are used.

Chart

We can have an example of a chart given below with the data of different modes of transportation used by the people at different times. The first column shows the time in which modes of transportation are used.
 

Source: Business Studies by K. Borrington and P. Stimpson

All of the next columns in this chart are describing the collected data of different modes of transportation. In this survey, there are cars, lorry, van, and bicycles are used as a mode of transportation while the last column represents the people who were walking. 

Bar Graph

In the Bar graph, there are different bars that are representing the data of different modes of transportations used at different time intervals. The frequency of the mode of transportation is shown through these bars. People walking by are also represented through bars.  
 

Source: Business Studies by K. Borrington and P. Stimpson

Pie Graph

We can assume that the data related to the sale of a single product is given in the pie graph. There are different countries where this product is used and how many people are using that product are represented through a pie graph. 
 

Source: Business Studies by K. Borrington and P. Stimpson

The information shown in this graph may help the business organization to reshape the sales or marketing strategy for that product. This sort of information may help another business organization to launch a new product in these countries or any one of these countries.

Line Graph 

The line graph is representing the price data of a product time by time. Basically, it is a price and time relationship that shows the increase in price in different time periods.  
 

Source: Business Studies by K. Borrington and P. Stimpson

This type of graphs is used to get information from historical data like what was the price of a product in a specific year and when and how much it is increased etc.

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