Lesson Plan for a Market Research Activity

Instructor: Tammy Galloway

Tammy teaches business courses at the post-secondary and secondary level and has a master's of business administration in finance.

This lesson will assist teachers in introducing the importance and function of market research. A video and discussion questions are included to increase students' understanding; while the quiz and activity will demonstrate their learning.

Learning Objectives

After this lesson, students will be able to:

  • Define external market research
  • Discuss statistical data relevant to organizations
  • Describe sources of data
  • Explain the usefulness of market research firms
  • Share the purpose and relevance of consumer supplied data


60 minutes

Curriculum Standards


Introduce a topic; organize complex ideas, concepts, and information so that each new element builds on that which precedes it to create a unified whole; include formatting (e.g., headings), graphics (e.g., figures, tables), and multimedia when useful to aiding comprehension.


Develop the topic thoroughly by selecting the most significant and relevant facts, extended definitions, concrete details, quotations, or other information and examples appropriate to the audience's knowledge of the topic.


Use appropriate and varied transitions and syntax to link the major sections of the text, create cohesion, and clarify the relationships among complex ideas and concepts.



  • Begin by asking students to discuss techniques and methods a business might utilize to make informed decisions.
  • Share with students that this lesson explores external market research techniques and sources that help businesses remain competitive and relevant.
  • Distribute External Market Research: Definition & Sources lesson, start the video, pause at 2:03 and present the following discussion prompts to the class:
    • Define external market research in your own words.
    • Provide examples of market research not listed in the video.
    • List and describe specific statistics organizations utilize in market research.
    • Explain competitor intelligence and discuss its benefits.
  • Restart the video, play in its entirety, then pose these discussion questions:
    • Explain the usefulness of market research firms.
    • How is customer supplied information captured?
    • Describe other customer touch points to gather consumer buying habits.
  • Afterwards distribute the External Market Research: Definition & Sources lesson quiz, shoulder pair students and allow them to complete together.
  • Review for accuracy.

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