Chapter 5 - Collecting relevant market information

Question 1

Secondary data

Answer 1

information that has been previously gathered for some purpose other than the current research

Question 2

Positives of secondary data

Answer 2

Not expensive research
enables insightful info on primary data as well as comparative data
quick to acquire
can be search internally/externally

Question 3

External secondary data sources

Answer 3

Competitor websites
academic journals
social media
company reports

Question 4

Internal secondary data sources

Answer 4

sales figures 
customer enquiries/complaints 
product returns 
sale team reports 
production records 
call details 
-aids understanding of customers and performance of organisation

Question 5

Limitations of secondary data

Answer 5

will not have everything 
can be out of date 
accuracy of findings unknown 
motivations of research unknown 
may not be in usable format 
not completely relevant

Question 6

Primary data

Answer 6

Data collected for a specific project and not available from any other source
Broken down between qualitative and quantitive data

Question 7

Qualitative data

Answer 7

answers 'why?' 
Group discussions 
depth interviews 
consumer panels 
social media research 
chat roms

Question 8

Quantitate data

Answer 8

Answers 'how many?'- deals with aspects that can be expressed with numbers
online surveys 
face to face surveys 
fields trials 
Hall tests

Question 9

Observing behaviour - Qualitative research

Answer 9

No question asked to participants
measures behaviours through observation e.g.. brands in shopping bags
overcome high refusal rates of surveys
consumers unaware

Question 10

Limitations of qualitative data

Answer 10

time consumer
small sample size
subjective opinions are difficult to quantify

Question 11

Random Sample

Answer 11

Each individual in the population has a equal chance of being included in the sample
Adv- Clear-cross section of the population
Disadv- almost impossible to achieve, can be seriously BIASED

Question 12

Quota Sample

Answer 12

analysis of the population is taken, then a quota for each category eg. ages, gender
interviewers fill the quota
Adv- clear cross section of the population
Disadv- a lot or respondents rejected as they don’t fit quota

Question 13

Stratified Sample

Answer 13

Similar to quota sample but the final choice of respondents is almost taken by chance
Adv- less waste of respondents than quota, flexible, cheap
Disadv- not as accurate

Question 14

Sources of bias

Answer 14

Sampling bias - taking a sample that is not representative of the population
Interviewer bias- interviewers can fake answers, body language can lead to specific answers