Market Research Flashcards
What is desk research?
Involves researching and analysing information that has already been gathered.
What is field research?
Involves getting brand new information suitable for the business’s exact needs.
What are the advantages of desk research?
Timely- desk information is quick to gather.
Cost effective- desk information does not require trained and paid interviewers or research companies.
Available- desk information already exists so is easy to look up.
What are the disadvantages of desk research?
Not objective- desk information is collected and presented by someone else, so could be biased.
Not appropriate- desk information is not fit for the exact purpose and may have to be ‘shoehorned’ to fit the business’s needs.
Not concise- the researcher may have to read through a lot of information to get what is needed.
What are the advantages of field research?
Complete- field information should have no parts missing.
Timely- in the respect that the information is up to date.
Appropriate- field information is fit for the purpose it is needed for.
Accurate- information should be correct as it can be validated.
What are the disadvantages of field research?
Not cost effective- field information requires trained and paid interviewers or expensive research companies.
What is random sampling?
The sample is picked randomly e.g. using a telephone directory or list of customers.
What is quota sampling?
The researcher chooses from a group of people with certain characteristics.
What are the advantages of random sampling?
No bias is shown by the researcher.
Saves time in selecting the sample.
What are the disadvantages of random sampling?
Sample may not reflect the target market.
Can over-represent a certain segment e.g. all males could be chosen at random.
Can be expensive as many calls may have to be made if customer lists are not up to date.
What are the advantages of quota sampling?
Quick and easy method as group lists are pre-made.
Can select customers that reflect the target market.
What are the disadvantages of quota sampling?
The exact sample from each group is not randomised, so researcher bias could be involved.
