Market Research Flashcards

1
Q

What is market research?

A

Process of gathering information about a market

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2
Q

What is primary research

A

First hand research

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3
Q

Advantages and disadvantages of a survey/ questionnaire?

A
Advantages
- quick
- cheap
Disadvantages
- not opinion of entire market
- random customers
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4
Q

What is secondary research?

A

Already documented research

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5
Q

Advantages and disadvantages of the Internet?

A
Advantages
- quick
- cheap
Disadvantages
- may be unreliable data
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6
Q

What are the different types of questions on a survey?

A

Closed questions - yes/no
Open questions - comments
Rating scales - 1 to 5

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7
Q

What types of market research are used for a limited budget?

A
  • surveys

- Internet

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