Market research Definitions Flashcards
Market analysis
a research report usually published by a market research company
Primary market research
the process of gathering information directly from consumers in the target market
Secondary market research
the process of using existing data(that has already been compiled by others) to learn more about a market
Quantitative data
information that can be counted and has a numerical value
Qualitative data
non-numerical data that describes qualities and characteristics
Focus group
an interview conducted with a small group of individuals(i.e. a group interview)
Sample
a subset of individuals from a given population that is used to make some estimation or prediction as a whole
Population
a group of individuals from which a sample is drawn
Sampling
a technique of selecting a subset of individuals(sample) from a given population to make some estimation or prediction of the population as a whole
Random sampling
a sampling method whereby everyone in the population has the same chance of being selected to take part in the research
Quota sampling
a sampling method that involves dividing the population into strata/subgroups based on a given characteristic; a proportional sample is then taken from each stratum/sample(based on convenience)
Convenience sampling
a sampling method where the sampling is made of whoever is willing to take part in the research
Probability sampling
a type of sampling technique whereby each subject has the same chance of being selected
Non-probability sampling
a type of sampling technique whereby not all subjects have an equal chance of being selected
