Market research methods and use

Question 1

list the two types of market research?

Answer 1

• primary research
• secondary research

Question 2

what is primary research?

Answer 2

data gathered by the person

Question 3

what is secondary research?

Answer 3

data gathered before, by this business or other businesses

Question 4

what are the two types of primary research?

Answer 4

• internal
• external

Question 5

what are the two types of secondary research?

Answer 5

• internal
• external

Question 6

what are two internal examples of primary research?

Answer 6

• data sales of products for the business
• customer data held on database

Question 7

what are two external examples of primary research?

Answer 7

• questionnaires and surveys
• interviews

Question 8

what are two internal examples of secondary research?

Answer 8

• reports from sales
• previous market research

Question 9

what are two external examples of secondary research?

Answer 9

• websites
• books and newspapers

Question 10

what is qualitative data?

Answer 10

subjective data, open ended. such as preferences and opinions

Question 11

what is quantitative data?

Answer 11

data expressed with numbers, normally used in graphs. such as ratings

Question 12

list 2 advantages of quantitative research

Answer 12

• easy to analyse
• reduces bias

Question 13

list 2 disadvantages of quantitative research

Answer 13

• limited flexibility, doesn’t allow participants to fully express themselves
• concentrated on numbers, overlook emotions

Question 14

list 2 advantages of qualitative research

Answer 14

• capture emotions
• provides detailed reasoning

Question 15

list 2 disadvantages of qualitative research

Answer 15

• time consuming
• influenced by personal biases

Question 16

what is validity?

Answer 16

ensuring data is accurate by using original sources

Question 17

what is reliability?

Answer 17

refers to consistency of results gained