Chapter 4.4 - Market research

Question 1

Academic journals

Answer 1

Periodical publications from educational and research institutions that publish data and information relating to a particular academic discipline

Question 2

Ad-hoc market research

Answer 2

Is market research conducted when required to deal with a specific problem or issue

Question 3

Continuous market research

Answer 3

Market research conducted on an ongoing basis, rather than a one-off (ad-hoc) basis

Question 4

Convenience sampling

Answer 4

Uses research participants who are easy (convenient) to reach. Relies on the ease of reach because of the convenient availability of volunteers

Question 5

Focus groups

Answer 5

Involves forming small discussion groups to gain insight into the attitudes and behavior of respondents. The groups are typically made up of participants who share a similar customer profile.

Question 6

Government publications

Answer 6

A type of secondary market research, referring to official documents and publications released by government entities and agencies.

Question 7

Interviews

Answer 7

A type of primary research that involves discussions between an interviewer and interviewees to investigate their personal circumstances, preferences, and opinions

Question 8

Market analysis

Answer 8

A form of secondary market research that reveals the characteristics, trends, and outlook for a particular product or industry
(market size, market share, market growth rate)

Question 9

Market research

Answer 9

Refers to marketing activities designed to discover the opinions, beliefs, and preferences of potential and existing customers

Question 10

Media articles

Answer 10

A type of secondary market research referring to the documents (articles) in print or online media. They are written by skilled journalists and authors

Question 11

Observations

Answer 11

A method of primary research that involves watching how people behave or respond in different situations

Question 12

Online secondary market research

Answer 12

Refers to sources available on the Internet for research purposes. Includes media articles, government publications, academic journals, and market analyses available on the Internet

Question 13

Population

Answer 13

Refers to all potential customers of a particular market

Question 14

Primary market research

Answer 14

Involves gathering new data for a specific purpose, using methods such as surveys, interviews, focus groups, and observations

Question 15

Qualitative market research

Answer 15

Involves getting non-numerical responses from research participants in order to understand their behavior, attitudes, and opinions

Question 16

Quantitative market research

Answer 16

Is about collecting and using factual and measurable information rather than people’s perceptions and opinions

Question 17

Quota sampling

Answer 17

Involves using a certain number of people from different market segments for primary market research purposes

Question 18

Random sampling

Answer 18

Gives everyone in the population an equal chance of being selected for the sample

Question 19

Sample

Answer 19

A selected group or proportion of the population used for primary market research purposes

Question 20

Sampling

Answer 20

A primary research technique that selects a sample of the population from a particular market for research purposes

Question 21

Sampling errors

Answer 21

Caused by mistakes made in the sample design
(Unrepresentative sample being used or sample size too small)

Question 22

Secondary market research

Answer 22

Involves the collection of secondhand data and information that already exists, previously gathered by others
(media articles + government publications)

Question 23

Survey

Answer 23

A document that contains a series of questions used to collect data for a specific purpose.
The most common method of primary research.