IB Business Management: Unit 4 Marketing
Unit 4.4 Market research
Unit 4.4 Consultancy Brief: Market Feasibility Report
Issued by: Global Futures Education Group (GFEG)
Project Title: Feasibility Study: A New International School in Shanghai Pudong
Background
Global Futures Education Group is considering launching a new flagship international school in Pudong, Shanghai. This institution will provide a high-quality, premium education featuring:
- A brand-new modern campus
- Highly qualified native English-speaking faculty
- A curriculum offering IGCSE with pathways into both the IB Diploma Programme and A-Levels
- Strong academic outcomes and university placement track records
- A unique focus on sports and music, with state-of-the-art resources for both
- A highly selective, high-fee model aimed at academic and extracurricular excellence
Before pursuing this investment, the executive board seeks a data-driven feasibility report to assess the extent of opportunity in the local market.
Task Objective
As a student research consultancy team, you are tasked with producing a professional report that answers the guiding question:
“To what extent is there space in the market for a high price, high quality international school with a unique focus in Shanghai Pudong?”
Project Deliverables
You will conduct both secondary and primary research to answer the above question and submit a professional business report that includes:
1. Secondary Research
Provide a well-referenced overview of the current education market in Shanghai, specifically Pudong:
- A market overview of education in Shanghai (growth, trends, competitors)
- One academic journal relevant to international education or market trends
- One government publication or report (e.g., policy, demographics)
- At least two competitor school websites (e.g., Yew Chung, Dulwich, Wellington College)
2. Primary Research
Conduct original research to gather real-world insights. Your methods should include:
Survey
- Choose one of the three main sampling methods (quota, random, convenience)
- Justify your chosen method
- Describe your sample size
- Summarize the key findings
- Present data using charts, graphs, or tables
Interview
- Conduct at least one interview with a parent, educator, or local expert
- Prepare a transcript or summary of findings with key insights
- Organize a session with at least three participants (preferably beyond your class)
- Use open-ended questions prepared in advance Summarize the main themes or contrasting viewpoints
Observation
- Visit or research existing international schools in the area
- Report on indicators such as campus busyness, enrollment levels, or signs of saturation
3. Report Writing Guidelines
Your final report should follow a professional business format and include the following sections:
- Title page
- Table of contents
- Executive summary (max 80 words)
- Introduction
- Methodology
- Secondary research (with citations)
- Primary research findings (include visuals where possible)
- Analysis and evaluation
- Conclusion (answer the feasibility question directly)
- References (APA or MLA format recommended)
Success Criteria
To be successful in this task, ensure your report demonstrates:
- Clear structure using business terminology
- Use of relevant and credible secondary research sources
- Quality primary research, supported by real data
- Visual presentation of data (e.g., charts, graphs, summary tables)
- Balanced analysis and critical thinking
- A well-supported conclusion based on evidence
KEY TERMS FROM THE BRIEF
Unit 4.4: Market Research — The Lifeline of Smart Business Decisions
IB Business Management
In the world of IB Business Management, few topics are as dynamic and impactful as Unit 4.4: Market Research. Whether launching a new product, tweaking a service, or expanding into a new region, market research is the compass that guides businesses through the fog of uncertainty. When done right, it fuels success. When ignored or executed poorly, the consequences can be catastrophic.
What is Market Research?
At its core, market research is the process of collecting, analyzing, and interpreting data related to customers, competitors, and market conditions. This data-driven approach helps firms make informed decisions about pricing, product development, promotion, and place—key elements of the marketing mix.
There are two main types: primary research (original data collected first-hand through surveys, interviews, focus groups, and observation) and secondary research (existing data such as government reports, academic journals, or competitor websites). Both play a vital role in giving businesses a clear view of consumer behavior and market trends.
Why Market Research Matters
Think of market research as the voice of the customer before a company makes a move. It helps reduce risk, spot opportunities, and improve customer satisfaction. One famous success story is Apple, which uses a blend of quantitative research (e.g., sales data) and qualitative insights (e.g., focus groups and feedback forums) to refine product features and improve user experience. Their market research helped identify consumers’ need for intuitive interfaces, fuelling innovations like the iPhone and iPad.
On the flip side, New Coke remains one of the biggest market research disasters in history. In the 1980s, Coca-Cola made the bold move to change its century-old recipe. While field research (taste tests) indicated that people preferred the sweeter formula, Coca-Cola failed to consider customer loyalty and emotional attachment. The backlash was swift and brutal, forcing the company to bring back “Coca-Cola Classic” within months. The lesson? Market research must go beyond surface-level data and dig into consumer psychology and brand identity.
Techniques and Tools in IB Business Management
In IB Business Management, students explore how different sampling techniques—such as random sampling, quota sampling, and convenience sampling—are used to ensure results are both reliable and valid. For example, a school launching a new IB or A-Level stream might use quota sampling to interview equal numbers of parents across different grade levels, ensuring a representative sample.
Students also learn about ad hoc market research, which refers to one-off studies used to solve specific problems, and continuous market research, which involves tracking changes over time. Both are essential depending on the nature of the business challenge.
Focus groups, for instance, are fantastic tools for gaining deep insights. Tech companies often use them to test prototypes or ad campaigns before launch. On the other hand, desk research (a type of secondary research) is cost-effective and fast—ideal for gathering competitor data or studying general trends.
Quality Control and Data Reliability
Good market research doesn’t end with data collection. It must be evaluated for accuracy, bias, and timeliness. Companies must apply quality control measures—double-checking survey design, verifying sources, and using appropriate sample sizes—to ensure the findings are trustworthy.
The Future of Market Research
In today’s digital age, market research is being revolutionized by AI and big data. Firms can now analyze consumer behavior in real-time using predictive analytics and sentiment analysis. Even small businesses can access detailed customer profiles through CRM systems and Google Trends.
But no matter how advanced the tools, the core objective remains the same: understanding people. And in IB Business Management, Unit 4.4 reminds us that market research is more than just charts and numbers—it’s about empathy, curiosity, and informed decision-making.