Market Research Flashcards
1
Q
What is market research?
A
When a company performs research on a product or market to help them determine what is best for the business.
2
Q
What is primary market research?
A
When a company performs specific research itself such as questionares.
3
Q
What is secondary research?
A
When a business collects pre existing data that has already been performed such as financial reports or news articles.
4
Q
What is Qualitative data?
A
Non numerical data that provides Detailed information about people opinions on their product or business.
5
Q
What is quantitative data?
A
Statistical data that provides numerical analysis.
