Example 1: Information obtained by market research being used to inform decision making e.g. supermarkets check on the speed of accuracy of till assistants and can then decide whether to reward or reprimand

Example 2: A shop analyses the performance of its POS terminal operators and warns operators who are too slow or make too many mistakes.

Example 1:

Advertising and marketing a product should be aimed at people likely to buy it otherwise it is a waste of time and money. Information can tell an organisation how well it is doing compared to its competitors.

Company decides to spend money on advertising in Area B to promote a particular product. (‘… because they have noticed sluggish sales’ may qualify for spotting trends mark)

Example 2:

A manufacturer spends money developing a new product because they have seen a gap in the market. A company developed special sized shampoo bottles when airline companies limited the amount that could be taken into the cabin. Information about customers’ buying habits is valuable here and can lead to an organisation or company becoming more profitable. Information can tell an organisation how well it is doing compared to its competitors.

Information from research is used to identify gaps in a particular market which can then be filled by developing a new product.

Example: Businesses will not prosper if decisions are made based on information that is not up-to-date. Inappropriate decisions may be made if important information is missing. If information is not understandable by the people who make decisions, then it is useless.

Example: Analyse sales data and realise when something is out of fashion e.g. sales of tape recorders or if one region buys more of something than another.