HBM Market Research

Question 1

Describe desk research

Answer 1

Involves researching and analysing information that has already been gathered for another purpose, either from inside or outside of the business.

Question 2

Describe field research

Answer 2

Involves gathering brand new information directly from the consumer, which is suitable for the business’s exact needs.

Question 3

Advantages of Desk research

Answer 3

Timely – desk information is quick to gather.

Available – desk information already exists so is easy to look up.

Cost effective – desk information does not require trained and paid interviewers or research companies.

Question 4

Disadvantages of desk research

Answer 4

Not objective – desk information is collected and presented by someone else, so could be biased.

Not appropriate – desk information is not fit for the exact purpose and may have to be ‘shoehorned’ to fit the business’s needs.

Not concise – the researcher may have to read through a lot of information to get what is needed.

Question 5

Advantages of field research

Answer 5

Complete – field information should have no parts missing.

Appropriate – field information is fit for the purpose it is needed for.

Timely – in the respect that the information is up to date.

Accurate – information should be correct as it can be validated.

Question 6

Disadvantages of field research

Answer 6

Not cost effective – requires trained and paid interviewers or expensive research companies.

Question 7

Describe Random sampling

Answer 7

Sample is picked randomly, e.g. using a telephone directory/list of customers.

Question 8

Describe Quota sampling

Answer 8

Researcher chooses from a group of people with certain characteristics.