1.2.2 Flashcards
Market Research
What is Viable
able to work properly or successfully
What is Market Research
the process of gathering information about the market and customers’ needs and wants in order to help inform business decisions, including product design and marketing
What is Focus group
a group of people who discuss their views on a product, service, advertisement or idea, either face-to-face or online
What is Target Market
a particular group of consumers at which a business aims its products and services
What is a Sample
a portion of the population asked for their opinions in order to draw conclusions about the behaviour of the whole population
What is Generation Y
also know as Millennials) the Pepe born shortly before 21st century, usually defined as born between 1980 and 2000
What is Data
information, particularly statistics, that can be collected and analysed
What is meaning of Biased
unbalanced or inclined to agree with a particular judgement or idea rather than presenting the evidence fairly
What is Ethics
moral principals or standards that guide the behaviour of a person or business
What is Source
a place, person or thing, such as a boo or report, hat can provide information to be used in research
What is Chamber of Commerce
a local association that promotes the interests of businesses in a country or region
What is Trade Association
organisations founded and funded by businesses that operate in a specific industry
What is Analysis
the process of looking at data to identify patterns or trends
What is Incentive
something such as a payment or gift that encourages someone to do something
What is Valid
having a solid or accurate basis of facts
