1.1.2 Market Research Flashcards
1
Q
What is known as product orientated approach?
A
- Where the business produces what it is good at rather than what customers demand
2
Q
What is market orientated approach
A
- Where the business produces goods and services based on what the customer wants
3
Q
Why is data collected and analysed
A
- Identify and anticipate consumer needs
- Quantify likely demand
- Gain insight into consumer behaviour
4
Q
What is primary research?
A
- Data collected first hand
5
Q
What is secondary research
A
- Data which is collected from previous sources
6
Q
What are three examples of primary research
A
- Telephone
- Postal
- Face to face
7
Q
What are three examples of secondary research
A
- ONS
- Market research orgnisations
- Prof. bodies
8
Q
A
