4.1 Flashcards
1
Q
What is market research?
A
Data collected from primary and secondary research
2
Q
What is competitive analysis?
A
Compares one business with another and to see whether there is a gap in the market for a product
3
Q
What data can be used for market research?
A
Text
Data
Tables
Graphs and charts
Line graphs
Pie charts
Scatter graphs
Time series analysis
4
Q
What are time series analysis?
A
Used to analyse and interpret trends that exist within the historic data
Used to extrapolate and predict future data based on trends observed
