Lecture 0-1 Flashcards
What’s the role of marketing research
To provide businesses with reliable, data-driven insights that inform marketing decisions
What are the two types of data collection?
Primary research & secondary research
What’s the first stage of marketing research?
Identifying a problem or opportunity
What is the purpose of marketing research?
Focuses on gathering and analysing specific data that can inform marketing decisions.
What are the two types of statistics?
Descriptive and inferential
What is descriptive statistics?
It summarises data through measures.
What is inferential statistics?
It uses sample data to make generalisations about a large population.
What are some examples of descriptive statistics?
Mean, median, mode, standard deviation.
What are some examples of inferential statistics?
Hypothesis testing or regression analysis
