Chapter 5 - Collecting relevant market information Flashcards

1
Q

Secondary data

A

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

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2
Q

Positives of secondary data

A

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

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3
Q

External secondary data sources

A

Competitor websites
academic journals
social media
company reports

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4
Q

Internal secondary data sources

A
sales figures 
customer enquiries/complaints 
product returns 
sale team reports 
production records 
call details 
-aids understanding of customers and performance of organisation
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5
Q

Limitations of secondary data

A
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can be out of date 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
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6
Q

Primary data

A

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

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7
Q

Qualitative data

A
answers 'why?' 
Group discussions 
depth interviews 
consumer panels 
social media research 
chat roms
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8
Q

Quantitate data

A
Answers 'how many?'- deals with aspects that can be expressed with numbers
online surveys 
face to face surveys 
fields trials 
Hall tests
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9
Q

Observing behaviour - Qualitative research

A

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

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10
Q

Limitations of qualitative data

A

time consumer
small sample size
subjective opinions are difficult to quantify

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11
Q

Random Sample

A

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

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12
Q

Quota Sample

A

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

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13
Q

Stratified Sample

A

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

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14
Q

Sources of bias

A

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

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