Definitions 4

Question 0

Systematic sampling

Answer 0

A non random method of sampling where a researcher chooses respondent by picking every nth name on a list

Question 1

Stratified random sampling

Answer 1

A method of quota sampling where respondents are chosen without method

Question 2

Market

Answer 2

Where buyers and sellers communicate to exchange goods and services

Question 3

Primary industry

Answer 3

Activities which involve the extraction of raw materials or the growing of food

Question 4

Secondary industry

Answer 4

Activities such as manufacturing which transform raw materials into finished goods

Question 5

Tertiary industry

Answer 5

Activities which provide services

Question 6

Demography

Answer 6

The study of a population, it’s composition and how it changes over time

Question 7

Market segment

Answer 7

Part of a whole segment which contains a group of buyers with similar characteristics, such as, age, income or social class

Question 8

Market segmentation

Answer 8

Breaking down a market into sub-groups which share similar characteristics

Question 9

Market share/ penetration

Answer 9

The proportion of total sales in a particular market for which one or more businesses or brands are responsible. It is expressed as a percentage and can be calculated by value or volume.