Before you finish Rick asks you to extend the report by undertaking some market research in your locality as to what, if any, further services users of mobile phone banking might require. In order to complete this task you decide to produce a questionnaire to gather information. Rick is particularly interested in the following services and the background of the people who want them: mortgage loans insurance stock exchange short term credit foreign exchange Rick believes that the information generated from this research may also help identify new market segments Your report must show that you have: conducted market research to gather information demonstrated the correct use of different techniques in order to group customers and identify market segments.

AC3.2 The learner is required to draw up a questionnaire. The approach adopted should demonstrate a logical approach to questionnaire design and the ordering of questions. The questions should be clear concise, direct and without bias. The questionnaire will be implemented in a location identified by the learner. The information may be obtained by any reasonable means (face to face, telephone, online). The size of the sample should be large enough to justify the conclusions drawn (but with a minimum size of 25). A table of results should be drawn up by the learner. Conclusions drawn from the table must be clearly supported by the evidence and the implications for Penny Farthing Bank explained.

AC3.3 Explanations should focus on how the additional information on customers can be used to identify different groups who are sufficiently similar to form a viable market segment. Learners should illustrate the points made with examples.