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kendall roying > market research > Flashcards

market research Flashcards

1
Q

market research

A

various marketing activities used to determine the opinions, beliefs and feelings of existing and potential customers

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2
Q

primary research

A

gathering new, raw data and info that didnt previously exist and analysing it

field work field research

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3
Q

secondary research

A

collecting previously gathered data, by another source and using it

no fieldwork

desk research

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4
Q

examples od primary research

A
  • surveys
  • interviews
  • focus groups
  • observations
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5
Q

examples of secondary research

A
  • market analysis
  • academic journals
  • government publications
  • media articles
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6
Q

surveys

A

data collection tool, used to gather primary market research abt individuals opinions, using a series if standarised questions

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7
Q

advantages of surveys:

A
  • relatively quick and cheap if online
  • serves for a broad range of research purposes
  • reliable and generalisable
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8
Q

disadvantages of surveys

A
  • bias may occur
  • time consuming to do it face to face
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9
Q

interviews

A

data collection tool used to gather primary research, in the form of an interview between the inverviewr (market researcher) nd the intervee ( respondent) for feedback and opinions

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10
Q

advantages of interviews

A
  • large amounts of qualitative data
  • clarifications of questions
  • moulded specifically for the needs of the organisation
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11
Q

disadvantages of interviews

A
  • not representative
  • interviewer bias
  • time consuming and costly
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12
Q

focus groups

A

small groups of targeted customers with shared characteristics and or simmilar interests that are put tgether so that the researchers can give them topics for discussion regarding specific products new perspectives

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13
Q

advantages of focus groups

A
  • identifying desires
  • gatherring opinions
  • lower costs

-diverse perdpectives

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14
Q

disadvntages of focus groups

A
  • respondent bias (peer pressure)
  • time consuming analysis
  • lack of privacy
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15
Q

observations

A

researchers watching, monitoring and analysing the customers in various situations

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16
Q

advantages of observations

A
  • not reliant on ppls willingness to participate
  • accurate realistic results
17
Q

disadvantages of observations

A
  • time consuming to analyse an interpret
  • hawthornes effect
18
Q

market anaysis report

A

the collection of data and information that was previously collected by another source

this contains info abt certain products, markets, industry,

19
Q

advantages of market analysis report

A
  • cheap
  • detailed info abt various aspects of a …..
20
Q

disadvantages of market analysis report

A
  • expensive if they gotta be paid for
  • become outdated quickly
  • competitors an acesst those as well as theyre not exclusive to anyone
21
Q

academic journals

A

publications containing latest educational research and academic theory

written by leading academics from various universities

22
Q

advantages of academic journals

A
  • most up to date research in any academic discipline
  • reliable
23
Q

disadvatages of academic journals

A
  • not always relevant to business
  • you have to pay
24
Q

government publications

A

official documents published by the government, no standarised format in the presentation

-economis forecasts
- tourism data
- demographic trends
-budget documents for central governmets

25
Q

government publications advantages

A
  • comprehensive and reliable
  • up to date
  • lots of them, covering various topics
  • a lot are free
26
Q

disadvantages of government publications

A
  • due to the large quantities of them, its hard to find and idetify them
  • pay for some
27
Q

media articles

A

professional documents and articled in print or online media written by authors and journalists on various informstion

28
Q

advantaes

A

available 24/7

maintained regularily updated frequntly

  • no dubscriptions
29
Q

media articled disadvantahes

A
  • bias
  • still they get outdated quickly
  • many do requore subsriptions
30
Q

online content

A

gathering data from the internet (company websites, web)

many ofthe previously mentioned sources can be found there at least

31
Q

online content advantages

A
  • broad range data
  • quick and cheap
  • up to date
32
Q

online content disadvantages

A

subsciptions

must be maintained regularily

hard to fine the best

kendall roying (11 decks)

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