primary and secondary research Flashcards
what’s primary market research
market research that is done by a firm for its own use.
what can a business can tailor primary market research to
its own exact needs.
examples or primary market research
questionnaires, surveys or interviews to carry out primary research.
give a key benefit of primary research
that it is tailored exactly to the needs of the business
what’s the likert scale? give an example
a form of market research that firms use to try to understand what customers think of their product or service. At airports, firms like Ferrovial ask what your service was like at security clearance queues.
when does secondary market research happen?
when firms collect information on research that has been performed by other organisations or people.
whats secondary market research particularly useful for?
information about an entire market rather than a specific target market. It is often cheap. eg market research done by governments contained in reports like the Family Expenditure Survey, newspaper articles and research reports written by independent organisations.
The Family Expenditure Survey is a government run survey and is an example of what type of market research?
secondary market research.
benefits of secondary research:
it’s cheap and it covers an entire market rather than a small target market.
