2. Market research Flashcards
Advantages of primary or field research
- Data can be collected that directly applies to the issue being researched. Secondary data will be data collected for another purpose
- The business that initially collects the data will be the only organisation with access to it. It can be used to gain marketing advantages over rival firms.
- Secondary data may be unavailable in a certain area
Disadvantages of primary or field research
- It can be expensive to collect and may take longer than desk research
- The sample taken may not represent the views of all the population
- If the research method is flawed, the findings will also be flawed. For example a badly worded questionnaire may not provide the data a business requires
Consumer panels
Group of customers are asked for feedback about products over a period of time
database
An organised collection of data stored electronically with instant access, searching and sorting facilities
Focus groups
A number of customers are invited to attend a discussion about a product run by markets researches
Market research
The collection, presentation, analysis of information relating to the market and consumption of goods and services
Primary research
The gathering of ‘new’ information that does not already exist
Qualitative research
The collection of data about attitudes, beliefs and intentions
Quantitative research
The collection of data that that can be quantified
quota sampling
respondents are selected in a non-random manner in the same proportion as they exist in the whole population
random sampling
respondents are selected for interview at random
respondents
people or organisations that answer questions in a survey
Sample
A small group of people that must represent a proportion of a total market when carrying out market research
Secondary research
The collection of data that is already in existance
Stratified sampling
A method of quota sampling in which respondents are chosen at random
