Key terms-market research(1.1.2) Flashcards
Biased questions definition
where the questions do not produce findings that give a true reflection of the views of the target audience on the product or service
Consumer behaviour definition
how consumers make decisions about how they choose and use products or services
Databases definition
an organised collection of data stored electronically with instant access searching and sorting facilities
Face-to-face survey definition
a research method used when the interviewer communicates directly with the respondent using a questionaire
Focus group definition
a group of people who participate in a discussion as part of market research to give feedback about a product or service
Government data definition
government publications that a business can use such as the census of the population
Interview bias definition
where the opinion of the interviewer interferes with the judgement of the interviewee
Market orientation definition
when a business’s products/services are based around the needs and wants of the customer
Market reports definition
a document that contains information stats research and facts on a chosen field
Market research definition
gathering presenting and analysing information about products/customers
Market segmentation definition
dividing a whole market into particular customer groups that have similar characteristics
Market segments definition
an identifiable group of individuals/ a part of the market where consumers share one or more characteristic or need
Observations definition
where market researchers watch the behaviour of customers
Primary market research definition
obtaining data first hand by the business to match the specific needs of the business
can also be known as field research
Product orientation definition
when a business prioritises a products design quality or performance rather than meeting customer preferences to guide production and marketing decisions
Qualitative research definition
market research collected relating to the opinions and beliefs of consumers
data not presented numerically
Quantitative research data definition
numerical information gathered and can be presented and analysed using graphs charts tables etc
Respondent bias definition
when respondents respond inaccurately to a question for some reason
Sample definition
a small group of people who must represent a proportion of a total market when carrying out market research
Secondary market research definition
data collected by another business or organisation but used by the business in question
also known as desk research
Segmentation definition
dividing the market into groups of people with similar attributes or common characteristics
Social networking definition
a platform such as Facebook, X and YouTube which can be used to market a businesses products/services
Survey definition
a method of (primary) research used to collect information
Test marketing definition
trialling the product in a small area or to a limited number of users to assess the suitability of a product
Trade publications definition
specialist magazines that look at current trends in the business world
