Market Research Flashcards
What is primary research
Is when data is collected first hand for a specific research purpose
What is secondary research
is data that already exists and which has been collected for a different purpose
What is quantitative research
is all about the numbers and specific statistics that are easy to analyse
What is qualitative research
is based on opinion, attitudes, beliefs and intentions
What is sample size
involves gathering data from a sample of respondents, which should be representative of the population as a whole
What is segmentation
is the process in which a single market is divided into sub markets
What is product orientation
is an approach to marketing that focuses on the characteristics of the product rather than the needs of the consumer
What are the main methods of primary market research
- surveys = face to face and online
- observations
- focus groups
- test marketing
