Marketing research and data

Question 1

What is qualitative research?

Answer 1

Research based on opinions, attitudes and beliefs
e.g. focus group
Can be expensive to collect but essential for product development
NOT numerical

Question 2

What is quantitative research?

Answer 2

Research that is statistically valid
e.g. questionnaire
Easy to analyse but may be biased

Question 3

What is market mapping?

Answer 3

A method of plotting competitors based on key characteristics of their product
Can show gaps and concentration

Question 4

What is primary research?

Answer 4

Data collected first hand
Focus groups and Questionnaires
Detailed and fit for purpose
Expensive to collect

Question 5

What is secondary research?

Answer 5

Using data that already exists
Census and internal data
Cheap and quick to collect
Data can be out of date or incomplete
Mintel - expensive but good