1.1.2 Market Research

Question 1

What’s is Product Orientation?

Answer 1

emphasises the quality of the product rather than the needs and wants of the target market

Question 2

What is Market orientation?

Answer 2

The consumer is the most important factor when providing products for the market, the business has a sensitivity to customers requirements. For example ASDA-chosen by you range

Question 3

What is Primary market research?

Answer 3

Primary research is collecting data first hand for example a survey or interview

Question 4

What is secondary research?

Answer 4

Secondary research is gathering data which already exists for example reports or newspapers

Question 5

What is Qualitative research?

Answer 5

Seeks to gather and explore feelings and thoughts about a product from consumers

Question 6

What are market segments?

Answer 6

A market segment is an identifiable group of individuals or part of a market where consumers share one or more characteristics or needs