3 - The Value Of Primary And Secondary Marketing Research

Question 1

What Is Marketing Research?

Answer 1

Is the collection, analysis of data and information to inform a business about its market.

Question 2

What Is Primary Market Research?
(2 Points)

Answer 2

~ Field research.
~ Involves the collection of first hand data that did not exist before and therefore is original data.

Question 3

What Is Secondary Market Research?
(2 Points)

Answer 3

~ Desk research.
~ Is research that has already been undertaken by another organisation and therefore already exists.

Question 4

What Are Examples Of Primary Market Research?
(4 Points)

Answer 4

~ Surveys and questionnaires.
~ In depth interviews.
~ Focus groups.
~ Observations.

Question 5

What Are Examples Of Secondary Market Research?
(8 Points)

Answer 5

~ National and local government.
~ Market research organisations.
~ Professional bodies.
~ Trade unions and confederation of British industry.
~ International bodies.
~ Academic organisations.
~ Newspapers and magazines.
~ The internet.

Question 6

What Is Qualitative Research?

Answer 6

The gathering of non-statistical information that gives a company in depth insight into the reasons of human behaviour.

Question 7

What Is Quantitative Research?

Answer 7

Is the gathering of statistical data to inform the company about peoples behaviour but does not identify the reasons.

Question 8

What Is A Market Map?

Answer 8

Is a diagrammatic technique that enables businesses to display the perceptions of customers.

Question 9

Why Is Market Mapping Beneficial To Firms?
(4 Points)

Answer 9

~ It compares different variables regarding products and consumers.
~ Can be used to analyse consumer buying habits and preferences.
~ Can be used to look at market gaps and then look at producing a product to fill that gap.
~ Gives a firm real insight into competition within the same market as its own product.

Question 10

What Is A Sample?

Answer 10

A group of subjects that has been chosen from a larger group for investigation.

Question 11

What Does The Value Of Sampling Depend On?
(3 Points)

Answer 11

~ The sample technique used.
~ How the sample was carried out.
~ The size of the sample.

Question 12

What Does The Size Of The Sample Depend On?
(3 Points)

Answer 12

~ Budget available.
~ Importance of accuracy.
~ Degree of confidence in results.

Question 13

What Are Examples Of Sampling Techniques?
(3 Points)

Answer 13

~ Random.
~ Quota.
~ Stratified.