Chapter 11 Flashcards
Market research
Gathering, analysing and interpreting information about a market.
Market orientated
Carrying out market research to find out consumer wants before developing and
producing a product.
Product orientated business
Business that focuses on the product itself, not the market for it.
Primary research
Collection of original data - also known as field research.
Secondary research
Information that has already been collected but is available for use by others
(desk research).
Sample
Group of people selected to respond to a research survey.
Random sample
Everyone has an equal chance of being selected for the sample.
Quota sample
Sample is selected on a particular basis, e.g. people aged between 18 and 25 years.
Focus group
A group, representative of the target market, which provides market research
information - often during a discussion.