market research

Question 1

market research process

Answer 1

1. Determine information needs
2. Collecting data from primary and secondary sources
3. Analysing and interpreting data

Question 2

marketing data

Answer 2

consists of the information, usually facts and figures relevant to the defined marketing problem

Question 3

primary data

Answer 3

information collected from original sources for the purpose of the specific research problem

Question 4

main methods to collect primary data

Answer 4

Survey
Observation
Experimentation

Question 5

secondary data

Answer 5

information that someone else has already collected

Question 6

types of secondary data

Answer 6

Internal data - information that internal sources have already collected (sales report, customer feedback)

External data - s published data from sources outside the business (reports from australian bureau of statistics)

Question 7

statistical interpretation analysis

Answer 7

the process of focusing on the data that represent average, typical or deviations from typical patterns