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.

~ 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.

~ 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.

~ Used to analyse consumer buying habits and preferences.

~ 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.

Question 14

What Is Random Sampling Techniques?

Answer 14

Selecting a sample from a larger population in such a way that every individual in the population has an equal chance of being chosen.

Question 15

What Is Quota Sampling Techniques?

Answer 15

Involves dividing a population into specific subgroups and then selecting a predetermined number of subjects from each subgroup.

Question 16

What Is Stratified Sampling Techniques?

Answer 16

Population is first segmented into subgroups before respondents are randomly selected from within that subgroup.