Pages 1-10 Flashcards
what is secondary research ?
collecting data that already exists
What is primary research?
collecting data that didn’t exist before
What is qualitative data?
opinions Judgements and attitudes information
What is a market segment?
a group of customers with similar buying habits and characteristics
what is market mapping
a diagram that can be used to position and compare products in a market
what is a brand
a named product that customers see as being different from others
what is added value
increased worth that a business creates for it’s products
what is a usp
unique selling point
what is a franchise
the right given by one business to other businesses to sell goods or services under it’s name
define franchisor
business that gives the right to use name
define franchisee
the ones getting the right to use name
what is quantitive data?
data that is in stat or number form
