Customer Needs - Identifying customer needs Flashcards
1
Q
define market research
A
identifying customer needs and wants through the collection and analysis of data about a target market
2
Q
define primary research?
A
research done by the business for the first time
3
Q
define secondary research?
A
accessing research already completed
4
Q
advantages of primary research?
A
- directly focussed to research objectives = fit for purpose
- up to date
detailed insights into customer views
5
Q
disadvantages of primary research?
A
- time consuming
- costly
- risk of survey bias
6
Q
advantages of secondary research?
A
- free and easy to obtain
- good source of market insights
- quick to access and use
7
Q
disadvantages of secondary research?
A
- out of date
- not tailored to research needs
- specialist reports are expensive
