1.1.2

Question 1

Gathering, presenting and analysing information about products/customers

Answer 1

Market research

Question 2

Process companies use to break customers into different sections

Answer 2

Market segmentation

Question 3

Obtaining data first hand by the business to match the specific needs of the business. It can also be known as field research

Answer 3

Primary market research

Question 4

Business develops products based on what it is good at doing

Answer 4

Product orientation

Question 5

Market research collected relating to the opinions and beliefs of consumers . Data not presented numerically.

Answer 5

Qualitative data

Question 6

Data collected by another business or organisation but used by the business in question. Also known as desk research

Answer 6

Secondary market research

Question 7

When a businesses products/services are based around the needs and wants of the customer.

Answer 7

Market orientation

Question 8

Numerical information gathered and can be presented and analysed using graphs, charts, table etc

Answer 8

Quantitive data