Market Research Flashcards
Psychological influence
Effects the decisions of the customers buying behaviour
Socio-cultural influence
Forces exerted by other people and groups that effect customer behaviour
Economic influence
Capacity to compete with other businesses and customer willingness and ability to spend
Government influence
A number of economic policy measures to influence the level of economic activity
Market research process
- Determining research needs
- Collecting data from primary and secondary sources
- Analysing and interpreting the data
Define primary research
Directly from the consumer
Methods of conducting primary research
Surveys
Observation
Experiments
Define secondary research
Existing research that has already been collected by other organisations
Divided into internal and external
Qualitative research
Attitudes and feelings of the consumers
Quantitative research
Numbers of respondents and statistical analysis
Define market research
The systematic gathering, recording and analysing of data about problems relating to the marketing of goods and services
