Chapter 4.4 - Market Research

Question 1

Academic Journals

Answer 1

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

Question 2

Cluster Sampling

Answer 2

Is used when getting feedback from respondents involves too much time, travelling or money. For example, it would be too time consuming and costly for a company to randomly interview people across all the countries that it operates in

Question 3

Convenience Sampling

Answer 3

Uses subjects that are easy (convenient) to reach, e.g. Students often use their classmates and friends in a research study. It relies on ease of reach and volunteers because of their availability

Question 4

Focus Groups

Answer 4

Involve forming small discuss cushion groups to gain insight into the attitudes and behaviour of respondents. The group is typically made up of participants who share a similar customer profile, such as teenage boys who like to play online computer games

Question 5

Interviews

Answer 5

Are a type of primary research that involve discussions between an interviewer and interviewees to investigate their personal circumstances and opinions. Beliefs, attitudes and feelings can be examined in detail

Question 6

Market Analysis

Answer 6

Reveals the characteristics and the outlook (trends) for a particular product or industry, e.g. Market size, market share and market growth rate

Question 7

Market Research

Answer 7

Refers to marketing activities designed to dicier the opinions, beliefs and preferences of potential and existing customers in order to identify and anticipate their wants and needs

Question 8

Non-sampling errors

Answer 8

Are caused by human error or human behaviour. They arise from the researcher’s mistakes in recording, processing or analyzing data, or because respondents do not always give truthful and honest answers.

Question 9

Observations

Answer 9

Are a method of primary research that involves watching how people behave or response in different situation is. It can be done under controlled conditions (like a laboratory test) or as real-life situations (where people do not know that they are being watched).

Question 10

Population

Answer 10

In marketing terms, refers to all potential customers of a particular market

Question 11

Primary Research (a.k.a field research or bespoke research)

Answer 11

is market research that involves gathering new data first-hand for a specific purpose. Methods of primary research include: surveys (questionnaires), interviews, focus groups and observations

Question 12

Qualitative market research

Answer 12

Involves getting non-numerical answers and opinions from respondents. The main purpose is to understand the behaviour, attitudes and perceptions of customers, employees or other respondents

Question 13

Quantitative market research

Answer 13

Is about collecting and using factual and measure able information rather than opinions

Question 14

Quota Sampling

Answer 14

Is the most common sampling method, involving a certain number of people (known as the quota) from different marketing segments being used for research.

Question 15

Random Sampling

Answer 15

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

Question 16

Sample

Answer 16

Is a selected proposition of the population used for primary market research purporses

Question 17

Sampling Errors

Answer 17

Are caused by mistakes made in the sample design, such as an unrepresentative sample being used or the sample size being too small

Question 18

Secondary Research (or desk research)

Answer 18

Involves the collection of second-hand data and information that already exists, previously gathered by others. Examples include government publications and news articles

Question 19

Snowballing

Answer 19

Refers to market research carried out with individuals who then suggest other friends, family members or colleagues, thereby increasing the sample size. It is used when firm’s are unable to get hold of appropriate respondents as the population is not clear

Question 20

Stratified Sampling

Answer 20

Involves subdividing the market into segments (known as strate) that share homogeneous or very similar characteristics. A number of respondents from each stratum that is proportional to the population is then randomly selected for the sample

Question 21

Survey (or questionnaire)

Answer 21

I is a document that contains a series of questions used to collect data for a specific purpose. It is the most common method of primary research