Market research

Question 1

Market research

Answer 1

this is the process of collecting, recording and analysing data about customers, competitors and the market

Question 2

Primary research

Answer 2

the collection of first hand data that is directly related to a firm’s needs

Question 3

Secondary research

Answer 3

collection of data from second-hand sources

Question 4

Qualitative research

Answer 4

research into the in-depth motivations behind consumer buying habits

Question 5

Quantitative research

Answer 5

research that leads to numerical results that can be presented and analysed

Question 6

Focus groups

Answer 6

a group of people who are asked about their attitude toward a product, service, advertisement or style of packaging

Question 7

Sample

Answer 7

the group of people taking part in a market research survey selected to be representative of the overall target market

Question 8

Random sampling

Answer 8

every member of the target population has an equal chance of being selected

Question 9

Systematic sampling

Answer 9

every nth item in the target population is selected

Question 10

Stratified sampling

Answer 10

this draws a sample from a specified sub group or segment of the population and uses random sampling to select an appropriate number from each stratum

Question 11

Quota sampling

Answer 11

when the population has been stratified and the interviewer selects an appropriate number of respondents from each stratum

Question 12

Open questions

Answer 12

those questions that invite wide ranging or imaginative responses- usually hard to collate and present numerically

Question 13

Closed questions

Answer 13

questions to which a limited number or pre set answers is offered