Market Research Flashcards
What is Primary market research
Information that is collected by the researcher
What is market research
Collecting data for consumer needs
What are examples of primary market research
Focus groups
surveys
testing samples
What are pros of primary research
you an design your own qualitative questions (why)
you can design quantitative questions (statistics)
What are cons of primary research
likely time consuming
likely expensive
What is Secondary Market research
Using research that has already been collected
What are examples of Secondary market research
Using internet
textbooks
news articles
What are pros or secondary research
quick to gather information
cheap to access the research
What are cons of secondary research
competitors will have access to same information
the research may be out of date
What is quantitative data
research methods for the quantitative collection and involves numerical values and statistics
What is qualitative data
research methods which is open ended that seeks to explore a given topic in depth and expressed in words
