Market Research

Question 1

market research

Answer 1

the process of collecting, recording and analysing data about customers, competitors and the market

Question 2

primary research

Answer 2

the collection of first - hand data that is directly related to the needs of the business

Question 3

secondary research

Answer 3

the use of existing data that was originally collected for another purpose

Question 4

qualitative data

Answer 4

non - numerical data, which provides insight into the detailed motivations of consumers and helps to explain their buying behaviour or opinions

Question 5

quantitative data

Answer 5

numerical results from research that can be statistically analysed

Question 6

sampling

Answer 6

the process of selecting a group of respondents from a larger population

Question 7

sample

Answer 7

a group of people taking part in a market research survey selected to be representative of the overall target market

Question 8

sampling bias

Answer 8

when a sample is not a good representation of the whole population, because it is chosen in ways which give some people a greater chance of being selected

Question 9

coding

Answer 9

the process of labelling and organising qualitative data to identify the main themes and the links between them