Market analysis Flashcards
1
Q
What does market analysis help uncover?
A
- Types/kinds of buyers
- Desired product attributes
- Buying locations
- Potential new products
2
Q
What are examples of internal continuous data?
A
-Profitability by product/customer/division
3
Q
What are examples of internal ad hoc data?
A
Imoact of advertising campaign on sales
4
Q
How big was the marketing research industrys size in 2016?
A
£4.8bn
5
Q
What are the stages of the marketing research process?
A
- Research planning
- Exploratory research
- Main quantitative data collection
- Data analysis
- Report writing
6
Q
What does exploratory research involve, and for what purpose?
A
- Preliminary research of a research area
- Allows the researcher to understand the market being researched
7
Q
What are types of quantitative data collection?
A
- Descriptive data collection
- Research design
8
Q
What are the three stages of research design?
A
- The sampling process
- The survey method
- Questionnaire
9
Q
What are the stages of developing a questionnaire?
A
- Planning
- Design stage
- Pilot stage
