Market Research Methodologies Flashcards
Important market information can be only obtained by conducting a ___
good market research
Entrepreneurs and investors ____ want to put resources in unknown markets
DO NOT
Good market research allows ______ to make wiser decisions.
entrepreneurs and investors
Surveys
Focus groups
Qualitative interviews
Social media
Observation
Field trials
Public data
market research methodologies using scientific approaches that can be employed.
The more the entrepreneur knows about his or her relevant market, the more customers can be ____ , products can be -____ , brands can be ____ , prices can be ____ and location can be ____.
- properly segmented and reached
- positioned
- promoted
- set
- pinpointed
Basic Questions in Market Research and Market Research Methodologies
Why
Purpose and objective for conducting market research.
What
Determines the scope and the limitations to be conducted.
Which
Determines which segment of the market must be studied; this must be the market segment that the entrepreneur is eyeing.
Who
Identifies who among the members of the selected market segment will participate in market research
When
Determines the time and timing of the research. This is critical for entrepreneurs whose product or service will be offered to a time-constrained market such as office workers.
Purpose and objective for conducting market research.
Why
Determines the scope and the limitations to be conducted.
What
Determines which segment of the market must be studied; this must be the market segment that the entrepreneur is eyeing.
Which
Identifies who among the members of the selected market segment will participate in market research
Who
Determines the time and timing of the research. This is critical for entrepreneurs whose product or service will be offered to a time-constrained market such as office workers.
When
