Market research

Question 1

define market research

Answer 1

It is the process of collecting,recording and analysing data about consumers,competitors and markets.

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 behaviour or opinions

Question 5

quantitative research

Answer 5

research that leads to numerical results

that can be statistically analysed

Question 6

focus groups

Answer 6

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

Question 7

(Quantitative research)

1. Observation & recording

Answer 7

using this approach,market researchers observe

and record how consumers behave

Question 8

(Quantitative research )

2. Test marketing

Answer 8

This can take place after a decision has been
made to produce a limited quantity of a new product
but before a full-scale,national launch is made.
It involves promoting and selling the product
In a limited geographical area
And then recording consumer reactions and sales figures

Question 9

sample

Answer 9

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