marketing Flashcards
outline 2 disadvantages of field research
its more expensive to gather compared to desk research
its more time consuming to gather compared to desk research
outline 2 advantages of field research
information is gathered specific to your purpose
information is up to date
define the term field research
involves finding out information first hand directly from the public/consumer
define the term desk research
uses secondary data, which is information that is already available, either from inside the business or from outside the business.
outline 2 disadvantages of desk research
information may be out of date
information is available to our competitors
outline 2 advantages of desk research
its cheaper to access existing information rather than having to collect information from scratch
its less time consuming to gather compared to field research
identify the 4 stages of the product life style
introduction, growth, maturity, decline
describe the introduction stage of the product life style
the product is launched on the market, its heavily advertised to make customers aware of the product, the product makes a loss for the firm.
describe the growth stage of the product life style
sales are starting to increase, the product is becoming known, advertising continues but at a lower level, The product begins to make a profit for the firm
describe the maturity stage of the product life style
Sales reach their peak and profit levels are at their highest,
The product is well established in the market, theirs more competitors, Firms will try to introduce new models or variations of the product.
describe the decline stage of the product life style
Sales and profits are falling,
The product becomes out-of-date,
There are more rival products on the market.
identify the methods of field research
questioners/surveys, consumer panels, test marketing
describe the questionnaire/survey method of field research
forms which contain a series of questions. They are designed to obtain answers to questions which will help gain peoples’ opinions.
describe the consumer panels method of field research
when a group of people are gathered together and are given a product to look at. This allows initial reactions to be recorded.
describe the test marketing method of field research
he product is tried out on a small section of the market, in a limited area , Allows teething problems to be sorted out before the launch of the product nationally or worldwide
