marketing business book definitions

Question 1

define market research

Answer 1

collection, presentation and analysis of information relating to the marketing and consumption of goods and services

Question 2

define untapped

Answer 2

market that is available but has not yet been exploited

Question 3

define primary research

Answer 3

gathering of new information that does not already exist

Question 4

define consumer panel

Answer 4

groups of customers are asked for feedback about product over a set period of time

Question 5

define secondary research

Answer 5

collection of data that already exists

Question 6

define qualitative data

Answer 6

information about attitudes, beliefs and intentions ususally written in words

Question 7

define quantitative data

Answer 7

information that can be expressed in numbers

Question 8

define sample

Answer 8

small group of people which must represent a proportion of a total market

Question 9

define test marketing

Answer 9

selling new product in a restricted geographical area to test it before national launch