Marketing Flashcards
Define the term ‘Desk Research’
This involves finding secondary data, which is information which is already available, either from inside the business or from outside the business.
Outline 2 Advantages of Desk research
- It is cheaper to access existing information rather than having to collect information from scratch.
- It is less time consuming to gather compared to field research.
Outline 2 Disadvantages of desk research
- Information may be out of date.
- Information is available to our competitors.
Define the term ‘field research’
This involves finding out information first hand (primary information) directly from the public/consumer.
Outline 2 Advantages of Desk research
- Information is gathered specific to your purpose.
- Information is up-to-date.
Outline 2 Disadvantages of Desk research
It is more expensive to gather compared to desk research.
It is more time consuming to gather compared to desk research.
People may not always give truthful answers in response to questions.
Describe what is meant by a consumer panel/Focus Group
This is when a group of people are gathered together and are given a product to look at. This allows initial reactions to be recorded. Their opinions are obtained on the design of the product, colour, shape etc and what they like and dislike about the product.
Describe what is meant by Test Marketing
The product is tried out on a small section of the market, in a limited area eg Aberdeen only.
Allows teething problems to be sorted out before the launch of the product nationally or worldwide
Describe what is meant by a questionnaire
These are forms which contain a series of questions. They are designed to obtain answers to questions which will help gain peoples’ opinions.
What are the life cycle stages of a product
- The product is launched on to the market.
2.
