market research Flashcards
1
Q
primary market research (field research)
A
collecting information that did not exist before. this first-hand contact with customers is valuable to a business in understanding its market.
2
Q
examples of primary research:
A
- observations
- focus groups
- experiments
- questionnaires
- social media
- surveys
3
Q
advantages of primary research:
A
- more accurate
- up to date
- specific to needs
- effective at collecting qualitative data
- direct customer contact
4
Q
secondary research (desk research)
A
the process of gathering secondary data, which already exists.
5
Q
examples of secondary research:
A
- telephone directories
- market reports
- census (& other governmental reports)
- internet sites
- local newspapers
- sales data
6
Q
key points (secondary research):
A
- more general
- less time-consuming
- effective at collecting qualitative data
