Management of Marketing Flashcards
N5 Business Management
Outline 3 reasons why an organisation would target specific customers?
It is less time consuming to carry out market research.
A product can be designed to meet the specific needs of the target market.
Advertising and promotions can be designed for the target market.
Define field research.
This involves finding out information first hand directly from the public/consumer.
Outline the advantages of field research.
Information is gathered specific to your purpose.
Information is up to date.
Outline the disadvantages of field research.
It is more expensive to gather compared to desk research.
It is more time consuming to gather compared to gathering desk research.
People may not always give truthful answers in response to questions.
Define desk research.
This uses secondary information which has already been gathered for another purpose either from inside or outside the business.
Outline the advantages of desk research.
It is cheaper to access existing information rather than having
to collect it from scratch.
Decisions can be made quickly as the information already exists.
It is easier to obtain by looking in a newspaper or on a website as the research has already been carried out.
Outline the disadvantages of desk research.
Information may be out-of-date as it may have been collected a long time ago so may not be relevant.
The information may not be as useful as the research has been
carried out for a different purpose.
Information is available to competitors making it harder to find a competitive edge.
Describe a personal interview.
A face to face discussion between a trained interviewer and a respondent. Can take place in the street or at home.
Outline the advantages of a personal interview.
Allows two-way communication so any points can be clarified.
The researcher can encourage the respondent to answer certain questions.
Body language and facial expression can be observed.
Outline the disadvantages of a personal interview.
it is a costly method of research as interviewers need to be trained.
It’s very time consuming as only one respondent can be interviewed at any one time.
Describe a telephone survey.
People are contacted by telephone and asked to answer a range of questions.
Outline the advantages of a telephone survey.
Information is obtained immediately.
Any points can be clarified by the researcher.
outline the disadvantage of a telephone survey.
Many people will not want to speak to a researcher over the phone and so many calls will need to be made to get a large number of responses
Describe a postal survey.
A list of questions is sent through the post, the survey is completed and sent back.
outline the advantages of a postal survey.
Cost effective way of sending a survey to a large number of people over a wide geographic area.
People can complete their survey at their own pace when it suits them.
outline the disadvantages of a postal survey.
The response rate may be very low.
There is no opportunity for the respondent to clarify anything they don’t understand.
